FDIC releases fourth quarter and year-end statistics
The FDIC released its quarterly banking profile Feb. 23, saying the industry essentially broke even in the fourth quarter of 2009, earning just less than $1 billion. Even that weak aggregate earning figure “represents significant improvement” over the record loss of a year ago, FDIC Chairman Sheila Bair said. Key factors in the year-to-year improvement were interest income, non-interest expenses and lower loan-loss provisions. Nevertheless, about one in three insured institutions reported a net loss for the fourth quarter. Non-current . . .
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