FDIC Quarterly Banking Profile
The Federal Deposit Insurance Corporation published its latest "Quarterly Banking Profile," which reviews the second quarter of 2019 in the banking industry in the U.S. A press release entitled, "FDIC-Insured Institutions Report Net Income of $62.6 Billion in Second Quarter 2019," states, "For the 5,303 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC), aggregate net income totaled $62.6 billion in second quarter 2019, an increase of $2.5 billion (4.1 percent) from a year earlier. The improvement in net income is attributable to a $4.9 billion (3.7 percent) increase in net interest income. Financial results for second quarter 2019 are included in the FDIC's latest Quarterly Banking Profile released today." The release also tells us, "Net interest income rose by $4.9 billion (3.7 percent) from a year earlier to $139 billion in second quarter 2019. Slightly more than three out of four banks (75.1 percent) reported a year-over-year increase in net interest income. The average net interest margin remained stable from a year earlier at 3.39 percent." The full "Quarterly Banking Profile" report adds, "Total deposit balances increased by $114 billion (0.8 percent) from the previous quarter, as deposits in foreign offices increased by $51.3 billion (4.1 percent) and domestic office deposits rose by $62.7 billion (0.5 percent). Domestic deposits in noninterest-bearing accounts rose by $37.2 billion (1.2 percent), while interest-bearing deposits increased by $25.5 billion (0.3 percent). Nondeposit liabilities increased by $25.1 billion (1.2 percent) from the previous quarter, as other liabilities rose by $25.2 billion (6.2 percent)."
