FDIC-Insured Institutions Reported Reduced Profitability but Strong Loan Growth and Stable Asset Quality in First Quarter 2020 — 2020-06-16

 Loan and Lease Balances and Deposits Registered Strong Growth  Asset Quality Metrics Remained Relatively Stable  The Number of Banks on the "Problem Bank List" Remained Low  Deteriorating Economic Activity Negatively Affected Banking Industry's Profitability  Quarterly Net Income Fell by 69.6 Percent from First Quarter 2019  Community Banks Reported a 20.9 Percent Decline in Net Income from a Year Ago The banking industry has been a source of strength for the economy in the first quarter despite unexpected shocks. Although bank earnings were negatively affected by increases in loan loss provisions, banks effectively supported individuals and businesses during this downturn through lending and other critical financial services.