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U.S. Banks Had Second-Best Earnings Ever in 2012, FDIC Says

U.S. banks had $141.3 billion in net income last year, the second-best on record behind the $145.2 billion total reported for 2006, on non-interest income and lower loss provisions, the Federal Deposit Insurance Corp. said.

Fourth-quarter net income was $34.7 billion, a 37 percent increase from the year-earlier period, the FDIC said today in its Quarterly Banking Profile. The total for the three-month period that ended Dec. 31 was a decline from $37.6 billion in the third quarter, the FDIC said.