Across America, banks and thrift institutions were forced to report losses in the second quarter after enjoying welcome profitability in the first quarter, largely because of the deterioration of their commercial real estate loans. FDIC-insured commercial banks and savings institutions reported aggregate profits of $7.6 billion in the first quarter. That turned into a $3.7 billion loss in the second quarter. Bad loans accounted for the biggest part of the $11.3 billion drop.
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