FDIC-Insured Institutions Reported Net Income of $69.5 Billion in Third Quarter 2021 — 2021-11-30

 Net Income Continued to Increase Year Over Year  Net Interest Margin Rose Modestly from Last Quarter’s Record Low  Quarterly Loan Growth Continued  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 4,914 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reflect aggregate net income of $69.5 billion in third quarter 2021, an increase of $18.4 billion (35.9 percent) from a year ago.1 This increase was driven by further economic growth and improved credit conditions, which led to a third consecutive quarter of aggregate negative provision expense.