Fdic: Banking Industry Suffers Weakest Quarter Since 1990
The Daily Record (Baltimore) › November 26, 2008
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Summary
Federal Deposit Insurance Corp. Chairwoman Sheila C. Bair said Tuesday the third quarter of 2008 was the banking industry's weakest quarter since 1990.
According to the FDIC's quarterly performance report, banks and savings institutions reported a 94 percent decline in net income for the period ending Sept. 30, compared to the corresponding period in 2007. Bair said about a quarter of all banks and thrifts reported a net loss for the quarter.See the full content of this document
Extract
Fdic: Banking Industry Suffers Weakest Quarter Since 1990
"That's more than double the number of institutions that were unprofitable a year ago," Bair said at a news conference.
In Maryland, the number ...See the full content of this document
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