Page 14 - The Banks Article

The Federal Deposit Insurance Corporation (FDIC) reported

that bank profits surged to a record $171.3 billion in 2016
commenting:

“The industry reported $171.3 billion in net income for full-year

2016, $7.9 billion (4.9 percent) more than the industry earned in

2015. Almost two out of every three banks— 65.2 percent—

reported higher earnings in 2016 than in 2015. Only 4.2 percent

of all banks had negative full-year net income. This is the lowest
percentage of unprofitable banks for any year since 1995.” (11)

FDIC-insured institutions reported aggregate net income of
$43.7 billion in the fourth quarter of 2016, boosted by a

best-ever $45.6 billion in the third quarter. The year's

proceeds brought the total post-crisis net (measured from

the third quarter of 2009) to $987.8 billion, according to
FDIC records. (9,10)

Since the financial crisis the Banks have raked in nearly $1
trillion in profits. However, they have had to pay out $321

billion in fines related to the crisis (Diagram 6, 7), according to a

study, March 2017, released by the Boston Consulting

Group with U.S. banks accounting for most of those costs (9).