FDIC Quarterly | FDIC.gov

The FDIC Quarterly provides a comprehensive summary of the most current financial results for the banking industry, along with feature articles. These articles range from timely analysis of economic and banking trends at the national and regional level that may affect the risk exposure of FDIC-insured institutions to research on issues affecting the banking system and the development of regulatory policy. The FDIC Quarterly brings together data and analysis that were previously available through three retired publications -- the FDIC Outlook, the FDIC Banking Review, and the FYI: An Update on Emerging Issues in Banking. Past issues of these publications are archived under their original publication names.

FDIC Quarterly, 2024, Volume 18, Number 4

Quarterly Banking Profile: Third Quarter 2024
Net income for the 4,517 FDIC-insured commercial banks and savings institutions decreased $6.2 billion (8.6 percent) from the prior quarter to $65.4 billion. The quarterly decrease in net income was largely driven by the absence of about $10 billion in one-time gains on equity security transactions reported in the previous quarter. The absence of these nonrecurring gains was partially offset by strong net interest income in the third quarter. The banking industry reported an aggregate return-on-assets ratio (ROA) of 1.09 percent in third quarter 2024, down 11 basis points from one quarter earlier and down 8 basis points from one year earlier.

Community Bank Performance
Community banks—which represent 90 percent of insured institutions—reported quarterly net income of $6.9 billion in third quarter 2024, an increase of $436.3 million (6.7 percent) from second quarter 2024. Higher net interest income (up $574.5 million, or 2.7 percent) and higher noninterest income (up $48.1 million, or 0.9 percent) more than offset higher noninterest expense (up $141.6 million, or 0.8 percent) and higher provision expense (up $128.5 million, or 13.9 percent). The community bank pretax ROA increased 8 basis points from last quarter to 1.21 percent.
Insurance Fund Indicators
The Deposit Insurance Fund (DIF) balance increased by $3.9 billion to $133.1 billion. The rise in the DIF was primarily driven by assessment income of $3.3 billion. Interest earned on securities, negative provisions, and unrealized gains on securities added a combined $1.2 billion to the fund during the quarter. These gains were partially offset by operating expenses of $0.6 billion. No institutions failed during the third quarter. The DIF’s reserve ratio was 1.25 percent on September 30, 2024, up 4 basis points from the previous quarter and 12 basis points higher than the previous year.

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FDIC Quarterly, 2024, Volume 18, Number 4

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