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Good news from the FDIC – construction permits are up while bad loans fall at state banks

Post by C.R. Roberts / The News Tribune on March 25, 2013 at 1:10 pm |
March 25, 2013 1:55 pm

Builders are building again and loan quality has improved at Washington banks, the Federal Deposit Insurance Corp. reported Monday.

The federal bank regulator said in its monthly report that statewide single-family home permits were up mightily in the fourth quarter, increasing 47.5 percent from the figure reported in the fourth quarter of 2011.

Multi-family building permits increased 53.6 percent, while the home-price index rose 0.6 percent.

Within 71 state banking institutions, total assets rose were $63.8 billion, up from $62.6 billion in the previous quarter and up from $63.5 billion the year before.

Asset quality improved at state banks, the FDIC said, with past-due and nonaccrual loans falling to 3 percent of total loans from 3.25 the quarter before, and down from 3.79 percent at the end of 2011.

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