Bank Profits Recover in Quarter: Earnings at...
From Times Staff and Wire Service Reports
Bank Profits Recover in Quarter: Earnings at commercial banks bounced back to $6.2 billion in the first three months of 1990, despite spreading problems with real estate loans, according to a Federal Deposit Insurance Corp. report. That was a big improvement over the preceding two quarters but still marked a 14% decline from a record $7.3-billion profit in first quarter 1989. Banks earned only $2.1 billion in fourth quarter 1989; that was revised down by $590 million from an earlier report after banks acknowledged more problem loans.
