Iowa banks’ performance outpaces national average
Iowa’s commercial banks’ third-quarter net income rose to $11 million, a 175 percent increase from third-quarter 2006 income of $4 million. By comparison, net income for all U.S. commercial banks declined by $5.5 billion compared with third-quarter 2006, to a net loss of $4.6 billion. Nearly half of all U.S. institutions insured by the Federal Deposit Insurance Corp. reported year-over-year decreases in earnings in the third quarter, primarily due to a steep increase in provisions for loan losses and a decline in noninterest income.
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Commercial bank performance in Iowa * |
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2007 |
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2006 |
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2005 |
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State Charter |
Federal Charter |
State Charter |
Federal Chartger |
State Charter |
Federal Charter |
|
Number of institutions |
335 |
40 |
340 |
42 |
348 |
44 |
|
Total assets (millions) |
$ 41,358 |
$ 9,990 |
$ 39,831 |
$ 9,363 |
$ 37,413 |
$ 9,849 |
|
Return on assets |
1.12 |
0.98 |
1.18 |
0.96 |
1.26 |
1.08 |
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Percent with earnings gains |
58.2 |
62.5 |
47.4 |
33.3 |
49.4 |
52.3 |
|
Percent unprofitable |
2.4 |
5 |
1.8 |
2.4 |
1.5 |
n/a |
* Quarter ending Sept. 30 Source: Federal Deposit Insurance Corp.
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