Buoyant Banks

Net income at all 5,980 FDIC insured banks rose $5.2 billion Y-o-Y to $45.6 billion in 16Q3. Looking at the subset of 5,521 community banks, quarterly net income rose $593 million Y-o-Y to $5.6 billion. Better yet, fewer than 5% of banks said they were unprofitable, the lowest percentage since 97Q3 and the number of banks appearing on the FDIC “problem list” shrank to 132, the lowest level since 08Q3.