FDIC-Insured Institutions Reported Net Income of $70.4 Billion in Second Quarter 2021 — 2021-09-08

FDIC-Insured Institutions Reported Net Income of $70.4 Billion in Second Quarter  Quarterly Net Income Continued to Increase Year Over Year, Driven by a Second Consecutive Quarter of Negative Provision Expense  Net Interest Margin Contracted Further to a New Record Low  Quarterly Loan Balances Grew For First Time Since Second Quarter 2020  Asset Quality Continued to Improve  Community Banks Reported an Increase in Quarterly Net Income from a Year Ago “With strong capital and liquidity levels to support lending and protect against potential losses, the banking industry continued to support the country’s needs for financial services while navigating the challenges presented by the pandemic.” — FDIC Chairman Jelena McWilliams WASHINGTON — Reports from the 4,951 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reflect aggregate net income of $70.4 billion in second quarter 2021, an increase of $51.9 billion (281 percent) from a year ago.