FDIC’s second-quarter report: lower earnings, more problemsThe banking industry earned $5 billion in the second quarter, an 87 percent drop compared with the second quarter of 2007. The FDIC cited increased expense from credit losses as the main factor in the reversal. Other areas of weakness included declines in non-interest income, higher non-interest expense, decreasing gains on security sales and higher loss provisions. The number of troubled loans increased during the quarter, particularly residential mortgage loans and construction loans. The number of problem institutions rose to 117 from 90 at the . . .
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