FDIC Quarterly

The FDIC Quarterly provides a comprehensive summary of the most current financial results for the banking industry, along with feature articles. These articles range from timely analysis of economic and banking trends at the national and regional level that may affect the risk exposure of FDIC-insured institutions to research on issues affecting the banking system and the development of regulatory policy. The FDIC Quarterly brings together data and analysis that were previously available through three retired publications -- the FDIC Outlook, the FDIC Banking Review, and the FYI: An Update on Emerging Issues in Banking. Past issues of these publications are archived under their original publication names.

FDIC Quarterly, 2024, Volume 18, Number 2 - PDF (PDF Help)

Quarterly Banking Profile: First Quarter 2024
Net income for the 4,568 FDIC-insured commercial banks and savings institutions increased by $28.4 billion (79.5 percent) from the previous quarter to $64.2 billion. A large decline in noninterest expense (down $22.5 billion, or 13.3 percent) was the primary driver of the increase in net income. A decline in the expense related to the special assessment accounted for more than half of the decline in noninterest expense. Higher noninterest income (up $10.3 billion, or 15.2 percent) and lower provision expenses (down $4.3 billion, or 17.3 percent) also contributed to the quarterly increase. The banking industry reported an aggregate return-on-assets ratio (ROA) of 1.08 percent in first quarter 2024, up from 0.61 percent in fourth quarter 2023 but down from 1.36 percent in first quarter 2023.

Community Bank Performance
Community banks—which represent 90 percent of insured institutions—reported quarterly net income of $6.3 billion in first quarter 2024, an increase of $363.2 million (6.1 percent) from the previous quarter. Community banks booked a securities gain of $47.3 million, up from a loss of $322.3 million in the previous quarter. Decreases in noninterest expense and provision expense more than exceeded the decrease in noninterest income and lower net interest income. Half (49.9 percent) of all community banks reported a quarter-over-quarter decline in net income. The community bank pretax ROA increased 6 basis points from one quarter earlier to 1.13 percent.

Insurance Fund Indicators
The Deposit Insurance Fund (DIF) balance increased by $3.5 billion to $125.3 billion during the first quarter. The rise in the DIF was primarily driven by assessment income of $3.2 billion. Net investment income (including the effect of unrealized gains and losses) added $0.8 billion. These gains were partially offset by provisions for insurance losses of $0.01 billion and operating expenses of $0.6 billion. There were no institutions that failed during the first quarter. The DIF’s reserve ratio was 1.17 percent on March 31, 2024, up 2 basis points from the previous quarter and 6 basis points higher than the previous year.

Past Issues