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.