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US bank profits and lending increased in the second quarter even as unrealized losses edged higher, according to the Federal Deposit Insurance Corp., Bloomberg reported.
Net income rose 12% from the previous quarter to $90.1 billion across the nation’s 4,238 insured lenders. Earnings were helped by a 1-basis-point increase in the net interest margin to 3.32%.
The FDIC’s quarterly assessment indicates that banks continued to expand lending while maintaining profitability. The agency’s report also highlighted the increase in unrealized losses during the period.
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