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Bank Performance Improves

FDIC quarter profile

Sept. 1, 2010

By staff

Over the past year, banks and thrifts have reduced their mortgage holdings and improved their earnings. More recently, the number of bank employees rose -- though so did the number of troubled institutions.

Banks owned $1.8743 trillion in residential mortgages in the second quarter, trimming their holdings from $1.8876 trillion in the previous quarter. At the same time last year, home-loan assets were $2.0125 trillion.

The statistics were included in the Federal Deposit Insurance Corp.'s Quarterly Banking Profile for the second-quarter 2010.

Home-equity lines-of-credit closed out the quarter at $0.6545 trillion, lower than $0.6599 trillion three months earlier and $0.6729 trillion a year earlier.

Nonfarm commercial mortgage holdings were $1.0810 trillion, edging down from $1.0906 trillion in March. Commercial real estate assets were $1.0865 trillion a year ago.

Construction-and-development loans on the collective balance sheet were $0.3833 trillion at the end of the second quarter, falling from the first quarter's $0.4180 trillion and $0.5357 trillion in the second quarter of last year.

Residential delinquency of at least 30 days was 12.54 percent. The rate reflected 2.79 percent in loans delinquent between 30 and 90 days and 9.75 percent in loans delinquent at least 90 days.

Home-equity loan delinquency was 2.87 percent, commercial mortgage lates were 5.42 percent and the 30-day rate on multifamily loans was 5.22 percent. C&D delinquency was 19.23 percent.

On overall bank loan assets, delinquency of at least 90 days fell 4.8 percent -- the first quarterly decline since the beginning of 2006.

Quarterly earnings for the sector were $21.6 billion. Banks lost $4.4 billion in the same period last year.

Net charge-offs were $49 billion, an 0.4 percent decline from a year earlier and the first year-over-year decline since the fourth quarter 2006.

The FDIC said no new bank charters were added during the latest period, and the number of reporting institutions was down to 7,830 from 7,934. It was the first time in nearly a decade that the number of institutions declined by more than a hundred. Bank count tumbled from 8,195 in the second-quarter 2009.

Of the latest count, 745 institutions had a concentration of mortgage loans, including 195 commercial banks and 550 savings institutions.

Problem institutions increased to 829 in the second quarter from 775 three months earlier.

Headcount at FDIC-insured banks finished June at 2,033,662, higher than 2,027,247 at the end of March. Financial institutions employed 2,093,066 people a year ago.

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