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The MReport Webcast: Thursday 9/2/2015

U.S. banking institutions that are insured by the Federal Deposit Insurance Corp. earned an aggregate net income of $43 billion in the second quarter of 2015, up $2.9 billion dollars from a year ago, the FDIC announced in their Quarterly Banking Profile released Wednesday. The $43 billion second quarter profits, the highest quarterly income on record, was mostly driven by a $3.6 billion dollar rise in net operating revenue.

The FDIC reported that loan growth within banks remained steady in the second quarter with total loan and lease balances rising $185 billion. Over the last year ending June 30, loans and leases increased $437.8 billion. At community banks, loan balances rose 2.7 percent during the second quarter of 2015 and increased 8.8 percent during the past 12 months. However, net interest margins faced some heavy pressures, with the average net interest margin rising to 3.06 percent in the second quarter from 3 point 02 percent in the first quarter.

For the reporting period of July through mid-August, the Federal Reserve reported in its August 2015 Beige Book released Wednesday that economic activity continued to expand across most regions and sectors, while the majority of reports on residential real estate markets across the 12 Fed districts were positive. The reporting period for the latest Beige Book found widely improved existing home sales and residential leasing, while most areas saw an increase in home prices. The Fed found improved residential real estate activity across all districts; home sales and prices increased in every district.

About Author: Jordan Funderburk

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