Year-end 2019 financial results for banks set for release Tuesday

Year-end 2019 financial results for the banking industry will be released Tuesday (Feb. 25) by the federal insurer of bank deposits, the agency said Friday.

The release of Quarterly Banking Profile (QBP) by the Federal Deposit Insurance Corp. (FDIC) will reflect financial results and performance at the end of the fourth quarter of last year (Dec. 31). The FDIC typically publishes quarterly financial results 55 days following the end of each quarter, the agency said.

The fourth-quarter results will be released publicly at 11 a.m.; typically, FDIC Board Chairman Jelena McWilliams and senior staff present the quarterly results at a press conference.

At the end of the third quarter 2019 (announced by the agency in November), bank return on assets was 1.33%, with banks posting a leverage ratio of 9.68%. Net charge-offs were 0.50% and noncurrent assets (plus other real estate owned) to total assets was 0.56%.

The number of unprofitable institutions was 3.46% of all FDIC-insured banks and thrifts (for a total of 5,256); the number of problem institutions at the end of the third quarter was 55.

FDIC Quarterly Banking Profile