The Federal Deposit Insurance Corp. has issued its first quarter performance summary for Washington’s state-chartered banks, and the results should be mildly encouraging to those who might still worry about how financial institutions are prospering post-recession.
Among the results:
• The number of banks has fallen to 54 from the 56 reported after the first quarter 2013. The number of bank employees, however, has increased to 12,688 from 11,650.
• Net income over the quarter fell to $106 million from $116 million, with decreases seen only at institutions with assets above $100 million.
• Total assets rose to $52.98 billion from $44.9 billion.
• Total loans and leases rose to $36.17 billion from $30.7 billion.
• Total deposits rose to $42.7 billion from $36.4 billion.
• “Other real estate owned” – a measure of properties that have been foreclosed or that have otherwise made it onto the books – fell to $211 million from $291 million.
• The percentage of unprofitable institutions fell to 5.56 percent from 8.93 percent the year before. However, the parentage of institutions with earnings gains fell to 40.74 percent from 60.61 percent.
• The percentage of nonperforming assets (or troubled loans) to all assets fell to 1.29 percent from 2.22 percent.