FDIC-Insured Institutions Report $56 Billion in Net Income in First Quarter 2018 — 2018-05-22

Community Bank Net Income Increases to $6.1 Billion • Industry Net Income Increases 27.5 Percent from a Year Earlier Due to Higher Net Operating Revenue and a Lower Effective Tax Rate • Community Bank Net Income Increases 17.7 Percent from First Quarter 2017 • Net Interest Income Rises 8.5 Percent from a Year Ago • Noninterest Income Increases 7.9 Percent from a Year Earlier • Loan Balances Rise 4.9 Percent over 12 Months _______________________________ “The banking industry reported another positive quarter. However, the interest-rate environment and competitive lending conditions continue to pose challenges for many institutions. The industry must manage risks carefully to continue to grow on a long-run, sustainable path.” — FDIC Chairman Martin J. Gruenberg _______________________________ Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $56 billion in the first quarter of 2018, up $12.1 billion (27.5 percent) from a year ago.