DSNews The homepage of the servicing industry
U.S. banking institutions that are insured by the Federal Deposit Insurance Corporation earned an aggregate net income of $43 billion in the second quarter of 2015, up $2. 9 billion dollars from a year ago, according to the FDIC's Quarterly Banking Profile released Wednesday. The $43 billion aggregate net income for Q2 was the highest quarterly income on record for FDIC-insured banks and was largely driven by an increase in net operating revenue of $3.6 billion.
Community bank earnings increased by 12 percent from a year earlier to $5.3 billion and operating revenue rose by 8 percent from a year ago to $22.3 billion at community banks. More than half of the FDIC's 6,348 insured institutions reported year-over-year growth in quarterly earnings, while the portion of banks that experienced no profit fell from 6.8 percent last year to 5.6 percent, the lowest since the first quarter of 2005. The FDIC reported that loan growth within banks remained steady in the second quarter with total loan and lease balances rising $185 billion.
Fannie Mae announced Wednesday that non-profit New Jersey Community Capital is the winning bidder for the GSE's first-ever Community Impact Pool of deeply delinquent non-performing loans. The Community Impact Pool of NPLs was specifically structured to attract bidding by non-profits, small investors, and minority- and women-owned businesses. The pool consists of approximately 75 loans with an unpaid principal balance of about $11 million.
