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State banks bettered banks nationwide in 3rd quarter

Post by C.R. Roberts / The News Tribune on Nov. 29, 2007 at 7:02 am with No Comments »
November 29, 2007 7:02 am

The FDIC is out with third quarter banking results, and banks in Washington did better than those nationally.

Across the country, FDIC-insured commercial banks and savings institutions reported a net income of $28.7 billion, a decline of $9.4 billion, or 24.7 percent. An increase in loan-loss provision and a decline in noninterest income were primarily responsible.

The 83 institutions in Washington saw a net income, year-to-date, of $615 million, up from $459 million in the third quarter of 2006. Net interest margin was down to 4.48 percent from 4.58 percent in the third quarter of 2006.

The percentage of unprofitable institutions rose to 15.66 percent from 12.35 percent.

Nonperforming assets to assets was 0.43 percent this year, against 0.30 percent in 2006. Return on assets in the state rose to 1.52 percent from 1.31 percent, year-to-date, a year ago.

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