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About the FDIC

The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.

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FDIC Chairman Jelena McWilliams

Jelena McWilliams

21st Chairman of the FDIC

Jelena McWilliams was sworn in as the 21st Chairman of the FDIC on June 5, 2018. Previously, Ms. McWilliams was executive vice president, chief legal officer, and corporate secretary for a regional bank; chief counsel on the U.S. Senate Banking, Housing and Urban Affairs Committee; assistant chief counsel on the U.S. Senate Committee on Small Business and Entrepreneurship; and an attorney at the Federal Reserve Board of Governors and in private practice. One of Chairman McWilliams' key initiatives at the FDIC is Trust through Transparency to make the FDIC more accessible, understandable, and responsive.

FDIC Chairman State Visits

As part of her Trust through Transparency initiative, Chairman McWilliams is meeting with stakeholders in every state. In her first 18 months as Chairman, she visited bankers, state officials, community groups and other stakeholders in 30 states. Since the pandemic, Chairman McWilliams has continued state visits virtually. Click on states in the map below to follow her travels.

Circular icon that indicates states visitedStates Visited

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Quarterly Net Income says '$59.9 billion' and an area chart graphic that shows a general increase

Quarterly Net Income

The banking industry reported quarterly net income of $59.9 billion during the fourth quarter, a 9.1% increase from a year ago.

5,001 FDIC Insured Banks as of the fourth quarter 2020

Number of Insured Banks

For the 5,001 commercial banks and savings institutions, aggregate net income totaled $59.9 billion in fourth quarter 2020, an increase of 9.1% from a year ago.

An up arrow, text that says '+$1.5 Billion'

DIF Funding

The Deposit Insurance Fund (DIF) balance was $117.9 billion on December 31, up $1.5 billion from the end of last quarter.

Text that says '$7.4 billion'

Community Bank Growth

Community banks reported quarterly net income of $7.4 billion in the fourth quarter, an increase of 21.7% from a year ago.

Text that says '+1.29%' and anarea chart graphic starting in 2007 and ending at the end of the Q4, 2020

DIF Reserve Ratio

The reserve ratio–the amount in the DIF relative to insured deposits–decreased slightly to 1.29% on December 31. A Fund Resolution Plan was adopted in September 2020.

Text says '56 banks' and a graph starting in 2008 and ending in 2020 in a generally declining slope

Number of “Problem Banks”

The number of banks on the FDIC’s “Problem Bank List” remained unchanged at 56 during the quarter.