|
|
|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
Directories of lenders, branch operators and mortgage service providers.
|
|
|
|
|
Bank news
|
| Bank Performance Strengthens
Banks earn $35.3 billion in Q3
Nov. 22, 2011
By MortgageDaily.com staff
|
U.S. financial institutions continued a trend of improving income as the number of troubled institutions fell, delinquency improved and employment expanded.
Banks owned $4.114 trillion in loans secured by real estate as of Sept. 30, shrinking from $4.123 trillion as of June 30. Real estate assets were higher at $4.303 trillion a year earlier.
The performance statistics were reported Tuesday by the Federal Deposit Insurance Corp.
Included in the third-quarter total were $1.852 trillion in residential loans and $0.608 trillion in home-equity lines of credit.
Residential delinquency of at least 30 days was 11.62 percent as of Sept. 30. In the prior quarter, the rate was 11.82 percent, while delinquency stood at 12.53 percent in the same period a year earlier.
HELOC delinquency was 2.92 percent, climbing from the second quarter's 2.85 percent. But late payments on HELOCs were lower than 3.05 percent in the third-quarter 2010.
Banks also owned $1.601 trillion in mortgage-backed securities, growing from $1.547 trillion three months earlier.
Earnings were $35.3 billion, up 49 percent from a year earlier, the ninth consecutive year-over-year improvement and the highest quarterly net since the second-quarter 2007.
"We continue to see income growth that reflects improving asset quality and lower loss provisions," FDIC Acting Chairman Martin J. Gruenberg said in a statement. "U.S. banks have come a long way from the depths of the financial crisis."
The findings reflect data reported by 7,436 institutions, fewer than 7,513 banks and thrifts reporting in the second quarter. The latest count included 6,352 commercial banks and 1,084 savings institutions.
The FDIC said that there are 844 problem institutions with $339 billion in assets. Last year, there were 860 banks in this category with $379 billion in assets.
Bank failures total 74 so far during 2011. In 2010, 127 banks failed.
Industry-wide headcount closed out September at 2,109,911 employees, more than the 2,104,899 people on staff at the end of June. |
next story
back to current headlines
|
Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
|
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.
|
|
|
|
|
|
|
