Bank earnings continue to improve
The banking industry earned $35.3 billion in the first quarter, that’s a $6.6 billion improvement over first quarter 2011. Lower provisions for loan losses and higher noninterest income were responsible for most of the improvement, the FDIC reported on May 24. This is the 11th consecutive quarter that earnings have registered a year-over-year increase. More than two-thirds of the banks (67.5 percent) reported improvement in net income from a year ago. The average return on assets rose to 1.02 percent, up . . .
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