Tuesday, February 23, 2010

Banks Profit but "Problem" Banks Increase

Overall, during the fourth quarter of 2009, American banks managed a small profit of $914 million but the number of troubled banks increased to 702.

The $914 million profit is a great increase from the 4th quarter of 2008 when banks reported a $37.8 billion loss and overall banks earned $12.5 billion in 2009 as compared to $4.5 billion in 2008.

Unfortunately, despite the increase in profit the number on the FDIC's potential problem bank increased to 702 from 552 from the third quarter of 2009.

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