The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

FDIC stats show 2009 was a good year not to be a bank; some numbers improving

Post by C.R. Roberts / The News Tribune on Feb. 28, 2011 at 11:45 am with No Comments »
February 28, 2011 11:45 am

The Federal Deposit Insurance Corp. is out with its December numbers for Washington – and they provide a good look at how bad things were for the banking industry in the state.

• The total number of state-chartered banks in operation fell to 64 at the end of December from 80 at the end of 2009.
• The number of people employed at state-chartered banks fell from 12,632 to 11,134.
• Net income for the year at state-chartered banks actually improved, from a loss of $2.06 billion in 2009 to a loss of $425 million in 2010.
• Total assets at state-chartered banks fell from $57.3 billion in 2009 to $46.4 billion in 2010.
• Total deposits fell from $46.2 billion to $37.9 billion.
• The pre-tax return on assets fell from minus-4 percent to minus-0.79 percent.
• The percent of unprofitable institutions – and here’s perhaps the most promising number, but understandable with all of the closings and takeovers – fell from 70 percent at the end of 2009 to 48.44 percent in 2010.
• Non-current loans and leases – again a silver lining to the clouds – fell from 9.81 percent to 6.46 percent.

Leave a comment Comments
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part and abiding by these simple rules.

JavaScript is required to post comments.

Follow the comments on this post with RSS 2.0