Industry earnings improving
Banks and thrifts combined to report first quarter net income of $18.0 billion, compared with $5.6 billion earned in the first quarter of 2009. Fifty-two percent of banks reported improvement in 2010 first quarter earnings compared to a year earlier, although 18.7 percent of banks still reported losses for the quarter. Average return on assets for the industry was 0.54 percent for the first quarter. The FDIC noted signs of improvement in asset quality trends as the growth in troubled loans slowed for the fourth consecutive quarter . . .
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