BANKING : Bank Earnings Soar in Third Quarter

Profits for the nation’s banks reached a record $11.5 billion in the quarter, and earnings for the first nine months of the year have already topped 1992’s annual record, regulators said. The Federal Deposit Insurance Corp. said earnings for the 11,081 commercial banks jumped 35% from $8.5 billion in 1992’s third quarter. The results exceeded the past quarterly record of $10.8 billion reached in the first three months of 1993. Profits for the first three quarters were $32.6 billion, up from $32.1 billion for all of 1992.