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Banking Conditions

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Net income at insured commercial banks surged to $18.0 billion in 1999:IQ, easily surpassing the previous record of $16.1 billion set in 1998:IIQ. Bankers were cheered by the rise in average return on assets (ROA) to 1.32%, equaling the previous high that was set in 1995:IIIQ. There was a small dark cloud: A majority of banks with less than $100 million in assets reported lower earnings than a year ago.

Suggested citation: "Banking Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-07, pp. 15-17, 07.01.1999.

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