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U.S. Banks' Fourth Quarter Profit Jumps 37%

Net income at U.S. banks climbed by more than a third in the last three months of 2012 as lenders set aside less money for potential bad loans and further shed the vestiges of the financial crisis.Bolstered by gains on loan sales and trading revenues, the banks reported fourth-quarter net income of $34.7 billion, a 37% increase from the final three months of 2011, according to the Federal Deposit Insurance Corp. Six in 10 banks reported a year-to-year improvement in their results, the agency said, as the number of troubled loans continued to fall and banks slightly increased their lending.Still, the banks reported lower core profit linked to lending and interest rates."On the positive side, income has been rising for more than three years; asset quality has been improving for more than two years; and for over a year, banks have been lending more in support of a recovering U.S. economy," FDIC Chairman Martin Gruenberg said in a statement.The FDIC's quarterly profile of the banking indus...

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  1. FDIC : Bank Profits Increase in 3Q

    Bank profits increased slightly in the third quarter while loan balances rose for the second consecutive quarter, a federal bank regulator said Tuesday. Banks earned...

  2. U.S. to allow smaller banks more time for stress tests

    U.S. regulators on Tuesday approved a plan that would give smaller banks an extra year before they must begin conducting annual stress tests to determine if they can...

  3. FDIC Chief: Volcker Rule Done By Year-end

    ARLINGTON Va., - A top bank regulator on Friday said agency officials are working to release by year-end a final version of the so-called Volcker rule that would pro...

  4. FDIC Chief: More Lending Key To Economy

    ARLINGTON, Va. - The chief of a key bank regulator on Friday argued that hikes in lending by financial institutions - not reducing loan-loss reserves -- is a necessa...

  5. Almost One-Third of U.S. Households Have No Savings Account - FDIC

    Almost a third of U.S. households don't have a savings account, according to a new federal study that also shows an increasing number of Americans managing their hou...

  6. U.S. Banks Post 2nd-Quarter Profit of $34.5 Billion

    U.S. banks posted their third-best quarter since the financial crisis as they set aside less money to cover losses and made more loans, in an encouraging sign for th...

  7. US Banks Post 1Q Profit Of $35.3 Billion

    U.S. banks reported their highest quarterly profit since mid-2007 for the first quarter, while overall lending activity decreased for the first time in four quarters...

  8. FDIC'S Gruenberg : We Could Dismantle Complex Firms Like JP Morgan If Needed

    A top. U.S. banking regulator Tuesday said his agency could handle the failures of large, complex banks including J.P. Morgan Chase & Co. (JPM), the nation's largest...

  9. FDIC Outlines Plan For Financial Rescues

    The head of the Federal Deposit Insurance Corp. on Thursday made the case that his agency is up to the task of handling the failure of a major financial firm, provid...

  10. Regulator: Volcker Rule May Not Be Approved By July

    U.S. regulators may miss a July deadline to adopt the Volcker Rule , a controversial proposal seeking to rein in speculative trading, a top bank regulator said Wedne...

  11. Regulator: Volcker Rule May Not Be OK'd By July

    U.S. regulators may miss a July deadline to adopt the Volcker Rule , a controversial proposal seeking to rein in speculative trading, a top bank regulator said Wedne...

  12. FDIC : Banks Can Boost U.S. Economy

    The U.S. bank industry has recovered to the point that it can boost the economic recovery by extending more loans, the top bank regulator said on Tuesday.Martin Grue...

  1. U.S. Bank Profits Soared Last Year

    The U.S. banking industry in 2012 recorded its highest earnings since before the 2007-2009 financial crisis, according to data released on Tuesday by the Federal Dep...

  2. U.S. Banks Post 4th Quarter Profit, Set Aside Less Money For Bad Loans

    U.S. banks reported their 12th-straight quarterly profit in the final three months of 2012 while continuing to set aside less money for potential bad loans, as the i...

  3. Fed's Tarullo: Hope Final Basel Capital Rulemaking to Be Complete This Spring

    A top Federal Reserve official said banking regulators hope to finalize U.S. rules implementing new international bank capital standards this spring.Fed Governor Dan...

  4. U.S. FDIC Moves To Avoid Insuring Overseas Deposits

    U.S. bank regulators took steps Tuesday toward preventing the U.S. government from being on the hook for bank deposits held overseas at the foreign branches of U.S. ...

  5. Top financial regulators to appear before Senate committee

    Officials responsible for overseeing Wall Street will update lawmakers next week on their progress implementing the 2010 Dodd-Frank financial oversight law, a U.S. S...

  6. Citi's Corbat builds bridges with regulators

    Citigroup Inc's Michael Corbat has been meeting with bank regulators in his first months as CEO, as he looks to bolster relationships and finalize the bank's plan to...

  7. U.S. bank industry posts highest earnings since 2006

    The U.S. banking industry's third-quarter earnings were the highest for any quarter since 2006 as revenue growth picked up and banks set aside less money to guard ag...

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