Wednesday, July 6, 2022

Oklahoma banks show upward trajectory in third quarter

Oklahoma banks showed increasing numbers in their net income for the third quarter of 2020 according to the just-released FDIC Quarterly Banking Review.

Oklahoma banks have a net income of $1.05 billion in 2020 as of the Sept. 30 numbers, compared to a net income of $1.03 billion at the same time frame in 2019. This year’s $1.05 billion is an increase from $614 million, which was reported at the end of the second quarter in June.

Total deposits were up dramatically in comparison to third quarter numbers last year. Oklahoma banks showed $104 billion in deposits in the 2020 third quarter numbers, as opposed to just $86 billion in 2019.

While the percent of unprofitable institutions did grow from 2.09% to 3.19% from the second to third quarter of this year, it’s still a decrease from the 4.52% in the third quarter of last year.

You can see all the Oklahoma numbers, compared to the numbers of the previous quarters, by going to the Quarterly Banking Review located on the FDIC website at FDIC.gov.