Sunday, October 24, 2021

Oklahoma banking industry remains strong in fourth quarter reports

Oklahoma banks, saw an increase in their numbers from the recently released FDIC Quarterly Banking Profile.

Oklahoma banks saw their net income increase from $1.342 billion in the fourth quarter of 2019 to $1.501 billion in the fourth quarter of 2020. Total assets also showed a marked increase from 2019 to 2020, going from $114 billion to roughly $129.5 billion. Highlights from all insured Oklahoma institutions in the fourth quarter 2020 Quarterly Banking Profile by the FDIC include:

  • Quarterly net income rises $179 million over fourth quarter 2020: In the fourth quarter of 2020, 188 Oklahoma banks reported quarterly net income of $450 million, up $179 million (49.65 percent) from a year ago.
  • Full-year 2020 net income increases to $1.501 billion: The Oklahoma banking industry reported full-year 2020 net income of $1.501 billion, up $159 million (11.2 percent) from 2019.
  • Total loan and lease balances rise 9.9 percent over 12 months: Total loan and lease balances decreased 1.8 percent from third quarter 2020, but rose 9.9 percent from the previous year.
  • Total deposits in 2020 increase $17.76 billion: Total deposits in fourth quarter 2020 increase $17.76 billion (18.2 percent) from the previous year, and $2.19 billion (2.1 percent) from third quarter 2020.

Read the full report here.