Around 4,614 banks insured by the Federal Deposit Insurance Corp. across America saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
While deposits decreased nationwide, Connecticut-based banks saw deposit growth in the last half of 2022, according to FDIC data.
While the total deposits at Connecticut banks remained steady during the 12-month period ending in June, FDIC data shows that the share of deposits once held by People’s United Bank has declined.
About one-quarter of Connecticut-based banks reported earnings gains in the second quarter after almost all of the state’s banks had seen positive earnings at the same time last year, according to FDIC data.
With banks holding record volumes of commercial real estate loans, the FDIC plans to increase its focus on CRE transaction testing during its next cycle of bank examinations.
About one-third of Connecticut-based banks reported earnings gains in the first quarter after last year saw bank earnings reach record levels, according to FDIC data.
The Federal Deposit Insurance Corp. has moved forward with plans to review bank merger policies after an attempt late last year to address mergers led to controversy on the FDIC board.
Weeks after a conflict arose between the FDIC chairman and board members, FDIC Chairman Jelena McWilliams has announced her resignation.
The controversy over proposals to review bank merger regulations continues to play out publicly, with Federal Deposit Insurance Corp. Chairman Jelena McWilliams saying that FDIC board members are attempting a “hostile takeover” of the FDIC.
A request seeking public comments about bank mergers that one government agency said had been approved by the Federal Deposit Insurance Corp. has come under dispute after the FDIC said the request had not been approved.
While the economic effects of the Omicron variant remain to be seen, improving economic conditions during the first nine months of 2021 helped drive Connecticut bank earnings close to pre-pandemic levels.
While the economic effects of the Delta variant remain to be seen, improving economic conditions during the first half of 2021 helped drive Connecticut bank earnings.
A new investment vehicle designed by the Federal Deposit Insurance Corp. will let financial institutions and other organizations provide capital to insured Minority Depository Institutions and Community Development Financial Institutions that will then request funding through a “pitch process.”
The yearslong effort to update the Community Reinvestment Act will continue, this time with the three federal banking regulators working together, a move supported by both banks and community organizations.
About three-quarters of Connecticut’s banks have had losses so far in 2020 as the pandemic and margin pressure continue to affect earnings.
Most Connecticut banks have had losses so far in 2020 as the pandemic and margin pressure continue to affect earnings.
The coronavirus pandemic had an early effect on Connecticut’s FDIC-insured banks, with first quarter earnings falling while total assets, loans and deposits saw some increases.
Five months after issuing a proposal to update the Community Reinvestment Act, the Office of the Comptroller of the Currency today released its final rule.
Banks participating in the Paycheck Protection Program could avoid increases in deposit insurance rates that would otherwise see effects from borrowing for the program.
Even as many banks and housing agencies remain focused on the financial crisis caused by the coronavirus pandemic, two federal bank regulators plan to move forward with changes to the Community Reinvestment Act.
