Banks Net Income Drops As Mortgage Activity Slows: FDICMani
FDIC-insured banks’ quarterly net income dropped by $3.1 billion to $37.2 billion, thanks to lower non-interest income from reduced mortgage-related activity, FDIC’s Quarterly Banking Profile revealed. The FDIC’s First Quarter 2014 Quarterly Banking Profile shows that despite a drop in earnings, a majority of banks reported an increase in quarterly net income compared to a year ago . . .
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