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The banking industry reported quarterly net income of $63.9 billion in the fourth quarter, an increase of $4.4 billion (7.4 percent) from a year ago.
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For the 4,839 commercial banks and savings institutions, aggregate, annual net income totaled $279.1 billion, an increase of $132.0 billion (89.7%) from a year ago.
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The Deposit Insurance Fund balance was $123.1 billion on December 31, up $1.2 billion from the end of last quarter.
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Community banks reported quarterly net income of $7.8 billion, an increase of 7.1% from a year ago.
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The reserve ratio – the amount in the DIF relative to insured deposits – remained at 1.27% for the quarter. A Fund Resolution Plan adopted in September 2020.
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The number of banks on the FDIC’s “Problem Bank List” declined to 44 during the quarter.
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