Insured commercial banks reported record levels of net income in the first quarter, which translated into the fourth-highest returns on assets (ROA) ever. Non-interest income was up 11.6% over last year's level and was largely responsible for the increase in ROA.
Suggested citation: “Banking Conditions,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-07, pp. 16-17, 07.01.1997.