Net Income Rises to $45.6 Billion at FDIC-Insured Institutions In Third Quarter 2016 — 2016-11-29

Community Bank Net Income Rises to $5.6 Billion  Banking Industry Net Income is $5.2 Billion Higher Than a Year Earlier  Community Bank Revenue and Loan Growth Outpace Industry  Total Loan Balances Rise 6.8 Percent During the Past Year _______________________________ “The banking industry reported another positive quarter, but faces continued challenges.” — FDIC Chairman Martin J. Gruenberg _______________________________ Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $45.6 billion in the third quarter of 2016, up $5.2 billion (12.9 percent) from a year earlier. The increase in earnings was mainly attributable to a $10 billion (9.2 percent) increase in net interest income and a $1.2 billion (1.9 percent) rise in noninterest income. One-time accounting and expense items at three institutions had an impact on the growth in income.