Yesterday, FDIC released their 1st quarter report & finds that there was stable asset quality. Although the banking industry reported quarterly net income of 18.5 billion dollars during the first quarter, a 69.6 percent decline from a year ago. However, net income is significantly higher than 2008 & 2009. “Since 1933, no depositor has lost a penny of FDIC-insured funds.”
The decline in earnings reflects the industry’s expectation of deterioration in the overall economy.
https://www.fdic.gov/news/news/speeches/spjun1620.html
Learn more about Delta Business Advisors at: https://deltabusinessadvisors.com or contact us @ 480-686-8062 / Lisa@DeltaBusinessAdvisors.com / Schedule a meeting with Lisa: https://calendly.com/lisariley
#DeltaBusinessAdvisors #MergersandAcquisitions #BusinessBrokers #MandAMarket #DailyBusinessAcument