Credit-Loss Provisions Hurt Mass. Banks’ Profitability
Provisions for credit losses more than doubled and net charge-offs – bad debt that will never be recovered – jumped to $67 million from $19 million.
Massachusetts Banks Saw Near-Record Earnings Last Year
Higher net interest income helped drive near-record earnings at Massachusetts banks last year, according to FDIC data.
Mass. Bank Incomes Still Under Pressure from Interest Rates
While decreases in loan loss provisions helped Massachusetts banks bring in more net income in the first quarter, the net interest margin at these institutions continued to decline.
Earnings Remain Down at Mass. Banks, FDIC says
Over half of Massachusetts banks have had losses so far in 2020 as the pandemic and margin pressure continue to affect earnings, though more banks moved out of the red in the third quarter.
Earnings Down at Massachusetts Banks, FDIC Says
Most Massachusetts banks have had losses so far in 2020 as the pandemic and margin pressure continue to affect earnings.
FDIC: 20 Percent of MA Banks Unprofitable in Q1
The coronavirus pandemic had an early effect on Massachusetts’ FDIC-insured banks, with first quarter earnings falling while total assets, loans and deposits increased.
Assets Increase, Income Declines at Massachusetts Banks in 2019
Massachusetts’ FDIC-insured banks saw total assets increase in 2019 while net income trailed 2018.
State’s Banks Saw Assets Increase, Headcount and Income Decrease in Q3
Massachusetts’ FDIC-insured banks saw total assets increase in the third quarter compared to last year, while year-to-date net income through Sept. 30 trailed 2018.
