Chart 5. The title is "Commercial Bank Pre-Tax Net Income-to-Gross Income Has Increased".

Chart 5 provides a time-series pro forma graphic for pre-tax net income to gross income that shows the very strong earnings performance of the banking industry over the past decade and during the past few years in particular. Even banks in the bottom 10th percentile experienced significant growth over the past 13 years, though profits were much lower than for those in the top 10th percentile. For example, in 2003, the bottom 10th percentile had a pre-tax net income of 6.8% while those in the top 10th percentile had a pre-tax net income of 35.5%.