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News of the Competition (08/29/2014)
  • WASHINGTON (8/29/14)--Second-quarter results reflect a stronger banking industry and stronger community banks in particular, according to Federal Deposit Insurance Corp. (FDIC) Chair Martin J. Gruenberg. The FDIC reported Thursday that the commercial banks and savings institutions it insures posted aggregate net income of $40.2 billion in the second quarter, up 5.3% from a year earlier . In its last quarterly banking profile, the FDIC added a section on community banks, which make up 93% of all FDIC-insured institutions. The $4.9 billion second-quarter net income at community banks was up $166 million, or 3.5%, over last year. The report also found that community bank loan balances increased faster than the industry as a whole and that they account for 45% of small loans to businesses ...


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