Home equity lines fueled loan growth at FDIC-insured institutions.
The preliminary third quarter Quarterly Banking Profile from the FDIC looked at data from over 9,000 insured banks and savings associations.
Home equity lines of credit grew 10.6% to $459.8 billion during the quarter, the report said, while residential mortgages edged up 2.2% to $1.8 trillion.
Insured institutions reported record net income of $32.5 billion, FDIC said.
Residential mortgage delinquency was 4.6%, up $730 million from the second quarter, according to the report, while home equity loan delinquency was 21.5%, up $298 million.