On February 23, 2016, the FDIC issued the “Quarterly Banking Profile” which summarized financial results for the fourth quarter of 2015 for commercial banks and savings institutions insured by the FDIC. As a general matter, FDIC-insured institutions reported aggregated net income of $40.8 billion in the fourth quarter of 2015, an increase of 11.9% (or $4.4 billion) from the previous year. In a statement, FDIC Chairman Martin J. Gruenberg noted that the banking industry improved on both revenue and income from the previous year, but noted that banks should remain vigilant to continued interest-rate risk, credit risk and evolving market conditions.

More information on the FDIC Quarterly Banking Profile is available at: https://www.fdic.gov/bank/analytical/qbp/.

The full text of Chairman Gruenberg’s statement is available at: https://www.fdic.gov/news/news/speeches/spfeb2316.html.