Financial Institutions Strengthen despite Stagnant Economy

Journal of Accountancy, December 1992 | Go to article overview

Financial Institutions Strengthen despite Stagnant Economy


An analysis of Federal Reserve Board call data for the second quarter of 1992 by Veribanc, Inc., the bank rating company, showed the nation's financial institutions continued to improve, despite the current recession.

Commercial banks. The nation's 12,145 commercial banks recorded record earnings of $8.18 billion in the second quarter. After a slight increase of $.59 billion in loan loss reserves and a $2.98 billion in problem loans, effective net income rose to $10.57 billion for the quarter. This income, plus another $.23 billion in new capital was used to charge off $3.06 billion in new problem loans and to augment the banking system's capital reserves by a hefty $7.74 billion, or $2.22 billion more than in the previous quarter.

Savings and loans. Second-quarter call data for the nation's 2,089 privately owned savings and loan institutions and those controlled by the Resolution Trust Corporation showed a continued improvement in their financial condition. The annualized rate of the latest six-month return on assets rose to .49% compared with -.40% in the first six months of 1991. …

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