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FDIC-Insured Institutions Earned $37.2 Billion in the First Quarter of 2014
Posted to: Around The Web
Wednesday, May 28, 2014 6:33 AM

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Press Release FDIC-Insured Institutions Earned $37.2 Billion in the First Quarter of 2014 Reporting Expanded to Include New Coverage of Community Banks FOR IMMEDIATE RELEASE May 28, 2014 Media Contact Andrew Gray (202) 898-7192 angray@fdic.gov Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $37.2 billion in the first quarter of 2014, down $3.1 billion (7.6 percent) from earnings of $40.3 billion the industry reported a year earlier. The decline in earnings was mainly attributable to a $7.1 billion (10.7 percent) decline in noninterest income. Lower income from reduced mortgage activity and a drop in trading revenue contributed to a year-over-year decline in noninterest income. Additionally, noninterest income


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