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Fourth District Banks

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Overall, Fourth District banks’ financial indicators point to strong balance sheets. (JPMorgan Chase, chartered in Columbus, is not included in this discussion because its assets are mostly outside the District and its size—roughly $1 trillion—dwarfs other District institutions.) Asset quality continued to improve in 2005:IIQ. Net charge-offs (losses realized on loans and leases currently in default minus recoveries on previously charged-off loans and leases) represented 0.33% of total loans, much better than the national average of 0.45% (down from 0.53% at the end of 2004). Problem assets (nonperforming loans and repossessed real estate) as a share of total assets increased slightly to 0.53% from 0.48% at the end of 2004, slightly worse than the national average of 0.47% of assets (down from 0.52% at the end of 2004).

Suggested citation: "Fourth District Banks," Federal Reserve Bank of Cleveland, Economic Trends, no. 05-10, pp. 18, 10.01.2005.

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