Fourth District Commercial Banks
FDIC-insured commercial banks headquartered in the Fourth Federal Reserve District continued their strong earnings performance of 2002–03 into 2004:IQ. Net income for the quarter was $2.97 billion (an annual $11.9 billion), putting them on pace to exceed their record $11.1 billion in 2003. Overall, their performance is representative of the U.S. banking industry, which posted its fifth consecutive quarter of record earnings.
Suggested citation: "Fourth District Commercial Banks," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-07, pp. 17, 07.01.2004.