Tuesday, March 20, 2012

N.C. banks did better in 2011

North Carolina banks had a much better year in 2011 than they had the year before, new FDIC data show.

The state's banks posted $10.2 billion in net income in 2011, up 13 percent from the year before, according to a state banking summary published by the FDIC.

The state's banks also bolstered deposits by 5 percent to $1.3 trillion, raised their capital levels, and charged off a smaller percentage of bad loans. More banks grew their earnings, and fewer were unprofitable.

But the state's banks had a smaller yield on their earning assets and assumed more property through foreclosures. The total asset base shrunk 1 percent to $1.7 trillion.