The FDIC released the Quarterly Banking Profile for second quarter,2009 yesterday. Some of the key points and charts from this report are presented below.
- More Than One in Four Institutions Are Unprofitable
- Charge-Offs and Noncurrent Loans Continue to Rise
- Net Charge-offs:
“Net charge-offs of credit card loans were $4.6 billion (84.5 percent) higher than a year earlier, and the annualized net charge-off rate on credit card loans reached a record 9.95 percent in the second quarter. Net charge-offs of real estate construction and development loans were up by $4.2 billion (117.0 percent), and charge-offs of loans secured by 1-4 family residential properties were $4.0 billion (41.1 percent) higher than a year ago.”
Charts:
Download: FDIC’s Quarterly Banking Profile Second Quarter, 2009
