U.S. Banks, Thrifts Earnings Hit Record in Q3

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004534-us-banks-thrifts-earnings-hit-record-in-q/

By Kristin Roberts, Reuters

Profits at U.S. commercial banks and savings institutions rose 4.2 percent to a record in the third quarter on a spike in trading revenue and increased servicing income at mortgage and credit card lenders, the Federal Deposit Insurance Corp. said on Tuesday.

Federally insured banks and thrifts posted earnings of $34.6 billion in the third quarter, up $1.4 billion from the second quarter and $492 million higher than the previous record notched in the first quarter of this year.

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U.S. Banks, Thrifts Earnings Hit Record in Q3

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