Bank profits are up, but overall lending is soft, FDIC reports

05/29/2013 | Wall Street Journal, The

Banks in the U.S. posted a record $40.3 billion in first-quarter profits, indicating the industry has rebounded from the financial crisis even as overall lending lags, the Federal Deposit Insurance Corp. reports. Total loans outstanding for banks in Q1 dropped 0.5%, or $36.8 billion. It was the first quarterly drop in lending since late 2010.

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Wall Street Journal, The

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