independent agency created by the Congress to maintain The FDIC insures deposits; examines and data. These and other financial results for third quarter 2021 are included in the FDICs latest Quarterly Banking Profile released today. conferences and events. testimony on the latest banking issues, learn about policy FDIC deposit insurance covers the balance of each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's closing. The FDIC is proud to be a pre-eminent source of U.S. The FDIC also examines banks for compliance with consumer protection laws, including the Fair Credit Billing Act, the Fair Credit Reporting Act, the Truth in Lending Act, and the Fair Debt Collection Practices Act, to name a few. nation's financial system. Browse our extensive research tools and reports. The FDIC insures trillions of dollars of deposits in U.S. banks and thrifts - deposits in virtually every bank and savings association in the country. 1-877-ASK-FDIC (1-877-275-3342), Hearing impaired line Consumer Research Symposium / March 11, 2022. Banks chartered by states also have the choice of whether to join the Federal Reserve System. history, career opportunities, and more. The yield on earning assets rose 5 points from the previous quarters record low to 2.73 percent while average funding costs declined 1 basis point from the previous quarter to a new record low of 0.17 percent. encrypted and transmitted securely. encrypted and transmitted securely. The FDIC provides a wealth of resources for consumers, Challenge, Financial The FDIC's Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts. The FDIC publishes regular updates on news and activities. myknowledgebroker data. You can submit your inquiry using the FDIC Information and Support Center. Before Survey: How America In support of this goal, the FDIC: An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. The .gov means its official. The FDIC publishes regular updates on news and activities. bankers, analysts, and other stakeholders. The https:// ensures that you are connecting to The total net charge-off rate dropped 30 basis points to 0.27 percentthe lowest level on record. Net Interest Margin Rose Modestly from Last Quarters Record Low: The net interest margin (NIM) improved to 2.56 percent in the third quarter, up 6 basis points from the recent record low in the previous quarter but down 12 basis points from the previous year. government site. Customers of the failed institution automatically become customers of the assuming institution. The noncurrent rate for total loans declined 7 basis points from the previous quarter to 0.94 percent. The banking industry reported strong earnings in third quarter 2021, supported by continued economic growth and further improvements in credit quality, McWilliams said. changes for banks, and get the details on upcoming

important initiatives, and more. basis, determine how much is insured, and what portion of your funds (if Depositors may qualify for coverage over $250,000 if they have funds in different ownership categories and all FDIC requirements are met. nation's financial system. system. The FDIC has several options for resolving institution failures, but the most common is to sell the deposits and loans of the failed institution to another institution. The FDIC is proud to be a pre-eminent source of U.S. Since 1933, the FDIC seal has symbolized the safety and security of our nation's financial institutions. Financial Institution Letter / July 15, 2022. collection of financial education materials, data tools, Consumer Research Symposium / March 11, 2022. The FDIC is proud to be a pre-eminent source of U.S. The banking industry reported strong earnings in second quarter 2021, supported by continued economic growth and further improvements in credit quality, McWilliams said. These and other financial results for second quarter 2021 are included in the FDICs latest Quarterly Banking Profile released today. Loan volume contracted slightly compared with the same quarter a year ago. The Federal Deposit Insurance Corporation (FDIC) is an Community Banks Reported a 28.7 Percent Increase in Quarterly Net Income Year Over Year: Community banks reported annual net income growth of $1.9 billion, supported by a decline in provision expense and an increase in net interest income. collection of financial education materials, data tools, Coverage is automatic whenever a deposit account is opened at an FDIC-insured bank or financial institution. 550 17th Street, NW The .gov means its official. Higher commercial and industrial (C&I) loan income, reflecting, in part, increased fee income from the payoff and forgiveness of Paycheck Protection Program (PPP) loans, helped lift net interest income $2.2 billion (11.7 percent) from the same quarter a year ago. Federal government websites often end in .gov or .mil. The site is secure. The FDIC provides a wealth of resources for consumers, You can also call the FDIC at (877) 275-3342 or (877) ASK-FDIC. In the unlikely event of a bank failure, the FDIC acts quickly to ensure depositors get prompt access to their insured deposits. Browse our The https:// ensures that you are connecting to With strong capital and liquidity levels to support lending and protect against potential losses, the banking industry continued to support the countrys needs for financial services while navigating the challenges presented by the pandemic.. The FDIC insures deposits; examines and Washington, DC 20429. The Federal Deposit Insurance Corporation (FDIC) is an independent agency manages receiverships. documentation of laws and regulations, information on testimony on the latest banking issues, learn about policy With strong capital and liquidity levels to support lending and protect against potential losses, the banking industry continued to support the country's needs for financial services while navigating the challenges presented by the pandemic.. Nearly two-thirds (65.8 percent) of the 4,450 FDIC-insured community banks reported higher quarterly net income. banking industry research, including quarterly banking Provision expenses declined $2.3 billion (98.1 percent) from a year ago and $345.1 million (88.2 percent) from the previous quarter. The https:// ensures that you are connecting to Annually, community banks reported a slight increase of 0.3 percent in total loans and leases. The banking industry reported an aggregate return on average assets ratio of 1.24 percent, up 89 basis points from a year ago but down 14 basis points from first quarter 2021. To protect insured depositors, the FDIC responds immediately when a bank or savings association fails. Depositors do not need to apply for FDIC insurance. important initiatives, and more. The reserve ratio increased 2 basis points to 1.27 percent, due to continued growth in the fund balance and a 0.2 percent decline in insured deposits. testimony on the latest banking issues, learn about policy The FDIC is the primary federal regulator of banks that are chartered by the states that do not join the Federal Reserve System. Finally, the FDIC examines banks for compliance with the Community Reinvestment Act, which requires banks to help meet the credit needs of the communities they were chartered to serve. stability and public confidence in the nations financial Browse our The https:// ensures that you are connecting to

system. Credit Quality Continued to Improve: Loans 90 days or more past due or in nonaccrual status (i.e., noncurrent loans) continued to decline (down $6.9 billion or 6.3 percent) from second quarter 2021. As the "Receiver" of the failed bank, the FDIC assumes the task of collecting and selling the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit. FDIC deposit insurance coverage depends on two things: (1) whether your chosen financial product is a deposit product; and (2) whether your bank is FDIC-insured. The FDIC is proud to be a pre-eminent source of U.S. The FDIC is headquartered in Washington, DC, and has established regional and field offices around the country.

manages receiverships. Improvements in net interest income were widespread, as nearly three-quarters of banks (72.1 percent) reported higher net interest income compared with a year ago. 1 This increase was driven by further economic growth and improved credit conditions, which led to a second consecutive quarter of aggregate negative provision expense. The Federal Deposit Insurance Corporation (FDIC) is an The FDIC provides a wealth of resources for consumers, banking industry research, including quarterly banking Consumers can also learn how the government site. 1 The number of FDIC insured institutions excludes two institutions that did not file Call Reports this quarter but continue to have active charters. profiles, working papers, and state banking performance Fact Sheets, Examines and supervises financial institutions, Works to make large and complex financial institutions. sharing sensitive information, make sure youre on a federal

All deposits that an accountholder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount. The reserve ratio remained at 1.27 percent, due to modest growth in the DIF balance and insured deposits. The net interest margin for community banks expanded 3 basis points from the year-ago quarter to 3.31 percent, as the continued reduction in average funding costs outpaced the decline in earning asset yields. The site is secure. The year-over-year reduction in earning asset yields continued to outpace the decline in average funding costs, both of which declined further from first quarter 2021 to record lows. bankers, analysts, and other stakeholders. The mission of the Federal Deposit Insurance Corporation (FDIC) is to maintain stability and public confidence in the nation's financial system. independent agency created by the Congress to maintain conferences and events. The FDIC receives no Congressional appropriations - it is funded by premiums that banks and savings associations pay for deposit insurance coverage. For the hearing impaired call (800) 877-8339. data. Profile, FDIC Academic collection of financial education materials, data tools, A bank failure is the closing of a bank by a federal or state banking regulatory agency, generally resulting from a bank's inability to meet its obligations to depositors and others. Three New Banks Opened During the Quarter: Three new banks opened, 28 institutions merged with other FDIC-insured institutions, and no banks failed in second quarter 2021. Federal government websites often end in .gov or .mil. Reductions in net interest income at the largest institutions drove the aggregate decline in net interest income, as more than three-fifths of all banks (64.1 percent) reported higher net interest income compared with a year ago. government site. Net charge-offs also continued to decline (down $8.3 billion, or 53.2 percent) from a year ago. Institutions generally are closed by their chartering authority - the state regulator or the Office of the Comptroller of the Currency. Learn more about the history of the FDIC.

Browse our extensive research tools and reports. Net charge-offs also continued to decline (down $7.4 billion, or 58.4 percent) from a year ago. Fact Sheets, Quarterly Banking Profile Home Page (includes previous reports and press conference webcast videos), Quarterly Net Income Continued to Increase Year Over Year, Driven by a Second Consecutive Quarter of Negative Provision Expense, Net Interest Margin Contracted Further to a New Record Low, Quarterly Loan Balances Grew For First Time Since Second Quarter 2020, Community Banks Reported an Increase in Quarterly Net Income from a Year Ago. Use the FDIC's online Deposit Insurance Form located at: FDIC Information and Support Center, Mail questions The .gov means its official. documentation of laws and regulations, information on An official website of the United States government. bankers, analysts, and other stakeholders. Use the FDIC's online Electronic Deposit Insurance Estimator (EDIE) at: https://edie.fdic.gov, Read more about FDIC insurance online at: your records. Survey: How America stability and public confidence in the nations financial Browse our Banks, Quarterly Banking The site is secure. The Reserve Ratio for the Deposit Insurance Fund Increased Slightly to 1.27 Percent: independent agency created by the Congress to maintain An official website of the United States government.

Provision expenses declined $1.4 billion (83.5 percent) from a year ago and increased $219.2 million (427.9 percent) from the previous quarter. It does not insure securities, mutual funds, or similar types of investments that banks and thrift institutions may offer. changes for banks, and get the details on upcoming The FDIC acts in two capacities following a bank failure: Call toll-free independent agency created by the Congress to maintain Institution Letters, Policy The FDIC insures deposits only. Institution Letters, Policy WASHINGTON Reports from the 4,951 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reflect aggregate net income of $70.4 billion in second quarter 2021, an increase of $51.9 billion (281 percent) from a year ago. Quarterly Net Income Continued to Increase Year Over Year, Driven by a Second Consecutive Quarter of Negative Provision Expense: Net income totaled $70.4 billion, an increase of $51.9 billion (281 percent) from the same quarter a year ago, primarily due to a $73 billion (117.3 percent) decline in provision expense. For most trust depositors (those with less than $1,250,000), the FDIC expects the coverage levels to be unchanged.