This story appeared in Bank Digest.
The Federal Deposit Insurance Corporation has released its "Quarterly Banking Profile" for the second quarter of 2015. According to the report, commercial banks and savings institutions insured by the FDIC reported aggregate net income of $43 billion in the second quarter of 2015, which was an increase of $2.9 billion (7.3 percent) from a year earlier and the highest quarterly income on record. The FDIC said that the increase in earnings was mainly attributable to a $3.6 billion rise in net operating revenue.
The report indicated that of the 6,348 insured institutions in the second quarter of 2015, more than half (58.7 percent) reported year-over-year growth in quarterly earnings and the proportion of banks that were unprofitable during the second quarter fell from 6.8 percent a year earlier to 5.6 percent, the lowest since the first quarter of 2005.