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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
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/articleid/3705269/1/pictures/1812402">Photo - Roger Beverage President and CEO of the Oklahoma Bankers  Association
Roger Beverage President and CEO of the Oklahoma Bankers Association

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,...
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