National News

Industry earnings up substantially from a year ago

Banks and thrifts earned $14.5 billion in the third quarter, the FDIC reported, compared to $2 billion in the third quarter last year. This is the fifth consecutive quarter that earnings have registered a year-over-year increase. Almost two-thirds of all institutions reported improvements in their quarterly net income from a year ago, but nearly one in five institutions had a net loss for the quarter. The average return on assets rose to 0.44 percent, from 0.06 percent a year ago. The . . .

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