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(Image from article: "Bank Failures Top 100 for '10")

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What Downturn? Bank Profits Hit $34.5 Billion

Here’s something that may (or may not) surprise about you about banks: They’re raking in profits like it’s 2007. It's not such a rosy environment for banks once you cut a little deeper into the numbers. The latest data from the FDIC show banks taking in net income of $34.5 billion in the second quarter of 2012, that’s up $5.9 billion from from the second quarter of 2011.

 

Bank Failures Top 100 for '10

Bank Failures Top 100 for '10

Regulators closed six more banks around the country, marking the second consecutive year that more than 100 financial institutions have collapsed.

Senh: So it looks like smaller banks are failing, and then getting gobbled up by a bigger bank. It just looks like smaller banks are forced to merge with bigger ones.

 

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