U.S. banks made $34.5-billion profit in second quarter
WASHINGTON — U.S. banks made $34.5 billion in profit from April through June, a nearly 21% improvement from a year earlier, though down slightly from the industry's first-quarter results, the Federal Deposit Insurance Corp. said Tuesday.
It marked the 12th straight quarter of year-over-year improvement in profits among FDIC-insured banks, the agency said. Those banks posted a combined $35.3 billion in profit in the first quarter.
"The banking industry continued to make gradual but steady progress toward recovery in the second quarter," said FDIC Acting Chairman Martin J. Gruenberg.
Just 15 FDIC-insured banks failed in the second quarter, the smallest number since the fourth quarter of 2008, when the effects of the financial crisis were just starting to be felt.
http://www.latimes.com/business/money/la-fi-mo-bank-profits-fdic-20120828,0,510555.story
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