FDIC-Insured Institutions Reported $62 Billion in Net Income in Third Quarter 2018 — 2018-11-20

Community Bank Net Income Increases to $6.8 Billion  Industry Net Income Registers a Strong Increase of 29.3 Percent from a Year Ago  Higher Net Operating Revenue and a Lower Effective Tax Rate Boost Net Income  Community Bank Net Income Rises 21.6 Percent from Third Quarter 2017  Net Interest Margin Widens to 3.45 Percent as Asset Yield Increases Outpace Funding Cost Growth  Annual Growth Rate for Loan and Lease Balances Is 4 Percent  Noncurrent Rate Continues to Decline and Net Charge-Off Rate Remains Stable “While the banking industry reported another positive quarter, we continue to monitor its overall performance in a rising interest-rate environment with competitive lending conditions.” — FDIC Chairman Jelena McWilliams _______________________________ Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $62 billion in the third quarter of 2018, up $14 billion (29.3 percent) from a year ago.