Oklahoma banks' profits grow despite tighter interest margins

Oklahoma's banking industry remains strong and profitable, but conditions remain less than ideal for smaller community banks.
by Don Mecoy Published: August 30, 2012
Advertisement
;

The state's overall banking industry has been much stronger than that of the nation as a whole because Oklahoma avoided much of the housing bubble that caused financial havoc elsewhere.

However, the latest figures offer evidence that the national industry is strengthening four years after the financial crisis.

21 percent increase

Nationally, bank earnings rose 21 percent in the April-June quarter and lending to consumers increased.

The U.S. banking industry earned $34.5 billion in the second quarter, up from $28.5 billion in the second quarter of 2011. About 63 percent of U.S. banks reported improved earnings as they were able to set aside less for losses on loans. And the number of troubled banks fell for the fifth straight quarter.

“The industry continues to recover at a gradual but steady pace,” FDIC Chairman Martin Gruenberg said at a news conference.

| |

by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
+ show more

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Hotel leaves Oklahoma City Thunder opponents telling ghost stories
  2. 2
    Check out the Thunder postseason playlist
  3. 3
    VIDEO: Blake Griffin dumps water on a fan
  4. 4
    Oklahoma City Thunder: Grizzlies guard Nick Calathes calls drug suspension unfair
  5. 5
    Dave Chappelle Reveals Shockingly Buff New Look
+ show more