Post by tiptoedaisy on Mar 8, 2012 12:47:32 GMT -5
The nation’s banks and credit unions had their best year since 2006, as a slowly recovering economy led to modest loan growth and lower levels of nonperforming loans.
Commercial banks made $119.5 billion in net income in 2011, the most since 2006, when they earned $145.2 billion. Credit unions earned $6.4 billion, the most ever.
According to an American University Investigative Reporting Workshop analysis of quarterly federal reports, total troubled assets (nonperforming loans plus repossessed real estate) tumbled to $251 billion as of Dec. 31, down from $322.6 billion a year earlier. As a result, the number of banks with more troubled assets than capital and reserves fell to 321, from 389 a year ago.
That meant banks had to set aside much less money for potential loan losses.
www.msnbc.msn.com/id/46656981/ns/business-local_business/#.T1jwYMDlMuY
Commercial banks made $119.5 billion in net income in 2011, the most since 2006, when they earned $145.2 billion. Credit unions earned $6.4 billion, the most ever.
According to an American University Investigative Reporting Workshop analysis of quarterly federal reports, total troubled assets (nonperforming loans plus repossessed real estate) tumbled to $251 billion as of Dec. 31, down from $322.6 billion a year earlier. As a result, the number of banks with more troubled assets than capital and reserves fell to 321, from 389 a year ago.
That meant banks had to set aside much less money for potential loan losses.
www.msnbc.msn.com/id/46656981/ns/business-local_business/#.T1jwYMDlMuY
© 2011 -- 
Crap, the Name Escapes Me 
