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Good news in latest FDIC Quarterly Banking Profile

FDIC-insured institutions reported net income of $28.8 billion in second quarter 2011, an increase of $7.9 billion (37.9 percent) from a year earlier, according to the FDIC Quarterly Banking Profile released Aug. 23. This is the eighth consecutive quarter that industry earnings have improved.

The number of institutions on the FDIC's “Problem List” declined for the first time since third quarter 2006. At the end of the second quarter, there were 865 “problem” institutions, down from 888 at the end of the first quarter.

You can read the entire FDIC release by clicking here.

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