Oklahoma banks posted robust earnings in 2012, increasing their profitability by about 18 percent over the previous year, according to information released Tuesday by the Federal Deposit Insurance Corp.
FDIC-insured institutions in the state had a net income of $1.2 billion in 2012, compared to about $1 billion in 2011.
“It really affirms what we have consistently said — that Oklahoma banks are doing pretty well in comparison to banks in other states,” said Roger Beverage, president and CEO of the Oklahoma Bankers Association.
Oklahoma banks also increased their lending to $54.8 billion in total loans and leases for 2012 from $52.1 billion in 2011, according to the FDIC.
“This shows that Oklahoma banks are supporting their communities and are open for business,” Beverage said.
Out of 234 institutions in Oklahoma insured by the FDIC, only 10 state banks were unprofitable in 2012's fourth quarter, Beverage said.
Nationally, bank earnings rose 19 percent to $141.3 billion in 2012, making it the second most profitable year on record for FDIC-insured institutions, FDIC Chairman Martin Gruenberg said in a news conference webcast Tuesday.
The number of institutions on FDIC's problem list nationwide fell to 651 in 2012 from 694 in 2011.
Commercial banks in the state improved their profitability and increased lending in 2012, according to an analysis of FDIC data from Oklahoma commercial banks prepared by W. Gary Simpson, professor of finance at Oklahoma State University and chairman of commercial bank management for the Oklahoma Bankers Association.