FDIC-Insured Institutions Reported Net Income of $59.9 Billion In Fourth Quarter 2020 — 2021-02-23

FDIC-Insured Institutions Reported Net Income of $59.9 Billion In Fourth Quarter  Full-Year 2020 Net Income Declined 36.5 Percent to $147.9 Billion  Quarterly Net Income Increased 9.1 Percent from a Year Ago  Net Interest Margin Remained Unchanged from Third Quarter at a Record Low Level  Loan Balances Declined from the Previous Quarter, Led by Lower Commercial and Industrial Lending Activity  Asset Quality Metrics Remained Stable from the Previous Quarter and a Year Ago  Community Banks Reported a 21.2 Percent Increase in Quarterly Net Income Year-Over-Year “While banking industry income for the full year 2020 declined from full year 2019 levels, banks remained resilient in fourth quarter 2020, consistent with the improving economic outlook.” — FDIC Chairman Jelena McWilliams WASHINGTON— For the commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC), aggregate net income totaled $59.9 billion in fourth quarter 2020, an increase of $5 billion