FDIC’s Quarterly Banking Profile, Fourth Quarter 2010, released February 23, 2010

• “Banks Earned $21.7 Billion in Fourth Quarter as Recovery Continues: Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported an aggregate profit of $21.7 billion in the fourth quarter of 2010, a $23.5 billion improvement from the $1.8 billion net loss the industry reported in the fourth quarter of 2009. This is the sixth consecutive quarter that earnings registered a year-over-year increase.
• Full-Year Net Income of $87.5 Billion Is Highest Since 2007
• Asset Quality Improves for Third Consecutive Quarter
• Institutions Set Aside Half as Much for Loan Losses as a Year Earlier
• 157 Insured Institutions Failed During 2010″