FDIC-insured commercial banks reported record profits of $14.6 billion in the second quarter, surpassing the previous high set in the first three months of the year. Net interest income and net non-interest income increased 7.9% and 8.9% respectively.
Suggested citation: “Banking Conditions,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-10, pp. 17, 10.01.1997.