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Banks post $21.6 billion profit in 2nd quarter

The U.S. banking industry posted its highest quarterly earnings in nearly three years, even as the number of troubled institutions grew by more than 50 in the second quarter.

(AP) — The U.S. banking industry posted its highest quarterly earnings in nearly three years, even as the number of troubled institutions grew by more than 50 in the second quarter.

The Federal Deposit Insurance Corp. says banks overall made $21.6 billion in net income in the April-to-June quarter. That was the highest quarterly level since 2007. Overall, banks lost $4.4 billion in the second quarter of 2009.

But number of banks on the FDIC's confidential "problem" list increased by 54 in the quarter.

The decline in bank lending stemming from the financial crisis showed signs of leveling off, the data show. Total lending declined by $107.5 billion, or 1.4 percent from the first quarter. It posted the steepest drop since World War II — 7.5 percent — in 2009 from the year before.

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