National News
Six-year string of earnings records comes to a halt Banks reported net income of $105.5 billion in 2007, a decline of $39.8 billion (27.4 percent) from the record $145.2 billion that the industry earned in 2006, according to the FDIC. The bulk of the earnings decline was attributable to a few large institutions, but only 49.2 percent of banks reported increased net income in 2007. In addition, the FDIC reported that fourth-quarter earnings dropped to $5.8 billion, their lowest level since the fourth quarter of . . .
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