National News

Earnings across the industry continue to improve

Commercial banks and savings institutions reported an aggregate profit of $29 billion in the first quarter of 2011, an $11.6 billion improvement from first quarter of 2010, the FDIC reported on May 24. This is the seventh consecutive quarter that earnings registered a year-over-year increase. For the sixth consecutive quarter, reduced provisions for loan losses drove the improvement in earnings. More than half of all institutions (56 percent) reported better quarterly net income from a year ago, and only 15 percent had a net loss . . .

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