Bank, thrift earnings for 4th quarter, year-end ’17 to be revealed

Bank and thrift earnings in the fourth quarter 2017 – and all of last year – will be announced at a press briefing Tuesday by the Federal Deposit Insurance Corp. (FDIC).

FDIC Board Chairman Martin Gruenberg will lead the session, beginning with a discussion of industry earnings and followed by questions and answers.

For the third quarter of 2017 (results announced in November), FDIC reported commercial banks and savings associations had net income of $47.9 billion, up $2.4 billion (5.2%) from the same period a year earlier. The increase in earnings, FDIC said, was mainly attributable to an $8.8 billion (7.4%) increase in net interest income.

Also for the third quarter, FDIC reported that of the more than 5,700 insured institutions reporting third-quarter financial results, two-thirds (67.3%) reported year-over-year growth in quarterly earnings.

The percentage of unprofitable banks in that quarter fell to 3.9% from 4.6% a year earlier.

The briefing Tuesday will be held at 10:30 a.m. at the FDIC’s headquarters building at 550 17th Street, N.W., Washington, D.C.

Calendar Item: FDIC press briefing, 2017, 4th quarter earnings