Insured commercial banks reported net income of $15.3 billion for 1997:IVQ, surpassing the previous quarter’s record high. Net interest income was a major contributor to the record-breaking net income and to quarterly earnings that were 11.5% higher than a year earlier.
Suggested citation: “Banking Conditions,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-04, pp. 16, 04.01.1998.