Fourth District Banking Conditions
FDIC-insured commercial banks headquartered in the Fourth Federal Reserve District posted net income of $2.74 billion for 2006:IQ ($10.94 billion on an annual basis), up about 1% from 2005. (JPMorgan Chase, chartered in Columbus in 2004, is not included in this discussion because its assets are mostly outside the District and its size—roughly $1 trillion— dwarfs that of other District institutions.) For the same period, the U.S. banking industry as a whole posted earnings of $37.69 billion ($150.76 billion on an annual basis), an increase of about 20% from the end of 2005.
Suggested citation: “Fourth District Banking Conditions,” Federal Reserve Bank of Cleveland, Economic Trends, no. 06-07, pp. 17-18, 07.15.2006.