Washington banks have done well over the past year, according to Tuesday’s quarterly report from the Federal Deposit Insurance Corp. Employment is up, as are profits, and the remnants of the recession are fading away.
By the numbers:
• Where 59 commercial banks in the state employed 9,998 people at the end of September 2011, the end of the third quarter this year saw 57 banks employing 10,011.
• Net income rose to $617 million for state banks, compared to $152 million the year before. However, banks with assets less than $100 million lost $4 million in the the third quarter (year-to-date), compared to a loss of $2 million the year before.
• “Other real estate owned,” or OREO – a mark of the properties banks own due to foreclosure or other means – fell from $459 million to $303 million.
• Total deposits were mostly unchanged, from $32.93 billion to $32.94 billion
• Return on assets rose from 0.51 percent to 2.06 percent.
• Net charge-offs – bad loans and leases removed from the books – fell from 1.39 percent of total loans and leases to 0.65 percent.
• Non-performing or bad assets still on the books fell from 3.84 percent a year ago to 2.57 percent at the end of September.