Wednesday, May 28, 2014

ABA Statement on FDIC’s First Quarter Bank Earnings Report

ABA Chief Economist James Chessen provides his insight to the FDIC's first quarter bank earnings report, which was released today.

“Banks are working hard to meet their customers’ needs despite challenges arising from persistently low interest rates, rising compliance costs and declining revenue from trading activities. The harsh winter weather put a chill on loan demand in the first quarter, particularly for mortgage loans. Springtime has brought renewed confidence for businesses and consumers, which should help to boost both credit demand and bank revenue. One-time events will continue to present challenges for some banks, but the underlying strength and capital across the industry will provide a bedrock for strong performance over the next year.”

Read the full release.

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