According to the FDIC, net income for FDIC-insured institutions reached an all-time high of $40.3 billion in Q1, up by 15.8 percent from last year. The increase marks the 15th straight quarter earnings improved year-over-year. The average return on assets (ROA), a basic yardstick of profitability, rose to 1.12 percent from 1.00 percent a year ago. This is the highest quarterly ROA for the industry since the 1.22 percent posted in the second quarter of 2007. Half of the 7,019 insured institutions reporting financial results had year-over-year increases in their earnings. The proportion of banks that were unprofitable fell to 8.4 percent, from 10.6 percent a year earlier.
Read the Press Release: FDIC-Insured Institutions Earned $40.3 Billion in The First Quarter of 2013