- You Probably Pay Too Much for These 10 Things
- 10 Ways to Get Free Lodging on Your Summer Vacation
- 16 Cheap Ways to Get Moving, Feel Younger and Live Longer
- Quiz: What’s the Main Ingredient in Almond Milk?
- How Americans Rate Their Fiscal and Physical Fitness
- Verizon Deal With HBO: Another Reason to Cut Cable
The FDIC quarterly report showed the industry earned $37.6 billion in the third quarter – up $2.3 billion, or 6.6 percent, from a year earlier.
That was the industry’s highest quarterly total since the third quarter of 2006, the FDIC said.
And while banks again reduced the amount of funds they set aside in case of losses, revenue growth contributed more to the earnings boost in the third quarter, bucking a recent trend, FDIC Chairman Martin Gruenberg said.
“Loan growth is becoming more established,” Gruenberg said. “Banks continue to clean up and strengthen their balance sheets.”
In good news for consumers, that also mean lending is picking up.