Good morning and welcome to our release of first quarter 2024 performance results for FDIC-insured institutions.
The banking industry continued to show resilience in the first quarter. Net income rebounded from the non-recurring expenses that affected earnings last quarter, asset quality metrics remained generally favorable, and the industry's liquidity was stable. However, the industry's net interest margin declined as competition continued to pressure rates paid on deposits and asset yields declined.
The banking industry's net income of $64.2 billion in the first quarter was an increase of 79.5 percent from the prior quarter, mainly due to lower expense...
Login or create a forever free account to read this news
Sign up/Log in