The FDIC issued a press release today on the results of the FDIC Insured Institutions for 4th Quarter 2014. Some highlights of the press release related specifically to Community Banks include:
Community banks earned $4.8 billion during the quarter and net income of $4.8 billion was up $1.0 billion (27.7 percent) from a year earlier. There were 6,037 community banks (92.7 percent of all FDIC-insured institutions) in the fourth quarter of 2014 with assets of $2.1 trillion (13.3 percent of industry assets). Community banks’ net income, net interest income, noninterest income, and loan balances all grew at a faster pace than the industry as a whole. Asset quality indicators showed further improvement, and community banks continued to hold 45 percent of small loans to businesses. FDIC Chairman Gruenberg added: “Community banks performed especially well during the quarter. Their earnings were up 28 percent from the previous year, their net interest margin and rate of loan growth were appreciably higher than the industry, and they increased their small loans to businesses.”
Finally, the number of banks on the FDIC’s “Problem List” declined from 329 to 291 during the quarter, the lowest since the end of 2008. The number of “problem banks” now is 67 percent below the post-crisis high of 888 at the end of the first quarter of 2011.
For more details, please visit https://www.fdic.gov/news/news/press/2015/pr15020.html