BANKING
From Times Staff and Wire Reports
Earnings at Biggest Banks Plunge: Profits at the nation’s largest banks dropped 37% in the third quarter from a year ago, one of the harshest three-month periods in the industry’s history, according to a brokerage report. Keefe, Bruyette & Woods Inc. found that profits at 143 banks totaled $1.6 billion for the three months ended Sept. 30, compared to $2.6 billion in the third quarter of 1990. The latest profits were down 52% from the second quarter.
