Oklahoma banks continue their collective journey to another record-earnings year, according to the FDIC’s release of the Quarterly Banking Profile on Monday.
“Needless to say, this is great news for the industry,” OBA President and CEO Roger Beverage said. “The previous record was set in 2015, at $1.024 billion. At the end of September, the year-to-date net income for the industry is $1.108 billion. That’s great news.”
OBA Chairman Guy Sims echoed Beverage’s thoughts.
“Overall earnings at FDIC-Insured Institutions were $47.9 billion in Third Quarter,” Sims said. “That’s up more than 5 percent over last year at this point. But I should also point out that loan growth was modest, slowing to 3.5 percent. I also note that community bank net income (as defined by the FDIC) went up to $6 billion. That’s more good news. And yes, I am trying to be optimistic.”