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FDIC Says Record Bank Income in Third Quarter Driven by Net Interest Income, Loan Growth

FDIC Chief Martin Gruenberg

U.S. commercial banks and savings institutions had a blockbuster third quarter, reporting a 13% rise in net income, as loan growth and higher interest income produced the largest-ever nominal quarterly profit recorded by the Federal Deposit Insurance Corp.

The 5,980 FDIC-insured institutions earned $45.6 billion in the third quarter, a $5.2 billion increase from the same period a year ago, the FDIC said in its quarterly report on the health of the banking system. It was also a slight increase from the...


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