FDIC- Insured Institutions Earned $38.7 Billion in the Third Quarter of 2014 — 2014-11-25

Revenue Increase Is Largest Since 2009 Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $38.7 billion in the third quarter of 2014, up $2.6 billion (7.3 percent) from earnings of $36.1 billion the industry reported a year earlier. The increase in earnings was mainly attributable to a $7.8 billion (4.8 percent) increase in net operating revenue (the sum of net interest income and total noninterest income), the biggest since the fourth quarter of 2009. Almost two-thirds of the 6,589 insured institutions reporting (62.9 percent) had year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable during the third quarter fell to 6.4 percent from 8.7 percent a year earlier. "The banking industry had another positive quarter," FDIC Chairman Martin J. Gruenberg said. "Community banks, in particular, performed better than a year ago.