Thursday, November 15, 2018

Oklahoma, nation’s banks report earnings increases in second quarter

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $60.2 billion in the second quarter of 2018, up $12.1 billion (25.1 percent) from a year ago.

Oklahoma banks showed an increased of more than $100 million in the second quarter of 2018 compared to the same time period in 2017: from $593 million to $702 million.

The improvement in earnings was attributable to higher net interest income and a lower effective tax rate. Financial results for the second quarter of 2018 are included in the FDIC’s latest Quarterly Banking Profile.

Of the 5,542 insured institutions reporting second quarter financial results, more than 70 percent reported year-over-year growth in quarterly earnings. The percent of unprofitable banks in the second quarter declined to 3.8 percent from 4.3 percent a year ago.

You can read the entire release about the second quarter numbers from the FDIC by clicking here.