FDIC-Insured Banks Saw Decline in Combined Net Income in Q3
The nation’s FDIC-insured banks saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
Massachusetts Banks Saw Earnings Decline in First Quarter
About one-third of Massachusetts-based banks reported earnings gains in the first quarter after last year saw bank earnings reach record levels, according to FDIC data.
Deposit Surge Continued in Fourth Quarter
Massachusetts banks saw the pandemic-induced deposit surge continue in the fourth quarter, as the year ended with a 25 percent increase in deposits compared to 2019.
