The Federal Deposit Insurance Corp. said the banking industry earned $35.3 billion in the third quarter. That's up from $23.8 billion in the same period last year. More than 60% of banks reported improved earnings.
The FDIC also says there were 844 banks on its confidential "problem" list in the quarter, or roughly 11.5% of all federally insured banks. That was down from 865 the April-June period, the first quarter in five years in which the number declined.
Banks with assets exceeding $10 billion drove the bulk of the earnings growth. They made up 1.4% of all banks but accounted for about $29.8 billion of the industry's earnings in the third quarter.
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