The nation’s 13,347 banks earned $10 billion...
The nation’s 13,347 banks earned $10 billion during the first six months of 1988, despite a $2.93-billion loss by Texas’ troubled banking industry, Sheshunoff Information Services of Austin, Tex., said. The six-month gain contrasted with a loss of $5.5 billion during the final six months of 1987. Nationwide, 11,570--or 87% of the nation’s banks--were profitable before extraordinary items. Of the 1,777 unprofitable banks, 790 were in the Southwest.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.