Data on the performance of banks in the first quarter will be released June 16 with a public briefing by the federal insurer of bank deposits, the agency said Tuesday.
The results will be released at 11 a.m. ET, the agency said.
The first quarter results from the Federal Deposit Insurance Corp. (FDIC) will provide data on a banking system that was on the verge of facing the impact of the coronavirus crisis, which stepped up in March. However, numbers from the previous quarter indicated a slight downturn in the banking sector.
At year-end 2019, FDIC call report numbers showed a slight decline in net income for the nation’s federally insured banks. The FDIC said, at the time, that the drop was primarily due to slower growth in net interest income and higher loan-loss provisions. The agency added that then-lower noninterest income also contributed to the trend.
Nevertheless, the profit report for the nation’s banks was only about $2 billion less than at year-end 2018, which at $236.7 billion was the most ever.
The lower earnings for year-end 2019 were also reflected in the average return on assets (ROAA, which the agency has noted is the “basic yardstick of bank profitability”). That declined from 1.35% in 2018 to 1.29% in 2019. The ROAA for 2019 was also the second-highest recorded since 2003, according to agency statistics.