Academic journal article ABA Banking Journal

FDIC Forecasts Record 1994

Academic journal article ABA Banking Journal

FDIC Forecasts Record 1994

Article excerpt

Once yearend earnings are tallied, they should represent the latest record year for the industry--above last year's $43.4 billion in earnings.

So predicted FDIC Chairman Ricki R. Tigert in the course of announcing the industry's third-quarter results--themselves an all-time quarterly record at $11.8 billion. FDIC credited rising net interest income for the bulk of the growth, with total loans growing by $60.2 billion in the quarter. (About 70% of the nation's banks reported wider margins.) And this came at the same time that loan losses had fallen to their lowest level in almost a decade.

Some additional highlights:

* Credit granted by banks was up. Banks saw real-estate loans grow the most in the quarter--by $27.1 billion, with all categories increasing but residential mortgages leading the way.

* For the second quarter in a row, time deposits rose--with two thirds of the growth in accounts below $100,000 while demand and savings deposits fell.

* Improving credit quality was seen, with banks in all regions experiencing reductions in noncurrent loans--the biggest improvement coming in the West and Northeast. …

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