US Banks Show Across-the-Board Gains in FDIC Report (1)

Net income at US banks rose more than 13% in the third quarter as money in the bedrock deposit insurance fund ticked higher and the number of problem banks went down, according to the Federal Deposit Insurance Corp.

The $9.4 billion gain in net income from the prior quarter to $79.3 billion was led by lower provision expenses and higher net interest income, the FDIC said in its quarterly assessment of the banking industry. The deposit insurance fund’s balance grew by $4.8 billion to $150.1 billion, while the tally of problem banks getting extra scrutiny from regulators fell to ...