Fourth District Commercial Banks
FDIC-insured commercial banks headquartered in the Fourth Federal Reserve District continued the past two years’ strong earnings performance into the first half of 2004. Their net income was $5.88 billion for these six months ($11.76 billion on an annual basis); this set a pace that, if maintained, will break the record of $11.1 billion in 2003. Overall, Fourth District bank performance was representative of the U.S. banking industry, which posted unprecedented earnings in the first half of 2004.
Suggested citation: "Fourth District Commercial Banks," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-10, pp. 16-17, 10.01.2004.