QUARTERLY 2024 VOLUME 18, NUMBER 2

1 

INSURED INSTITUTION PERFORMANCE

Net Income Increased From the Previous Quarter, Driven by Lower Noninterest Expense, Lower Provision Expense, and 

Higher Noninterest Income

The Net Interest Margin Fell for the Second Consecutive Quarter

Asset Quality Metrics Remained Generally Favorable With the Exception of Material Deterioration in Credit Card and 

CRE Portfolios

Loan Balances Declined Modestly From the Previous Quarter, but Increased From a Year Ago

Domestic Deposits Increased for the Second Straight Quarter

The Deposit Insurance Fund Reserve Ratio Increased 2 Basis Points to 1.17 Percent

THE INDUSTRY’S NET INCOME 

INCREASED FROM THE PREVIOUS 

QUARTER, DRIVEN BY LOWER 

NONINTEREST EXPENSE, LOWER 

PROVISION EXPENSE, AND HIGHER 

NONINTEREST INCOME

First quarter net income for the 4,568 FDIC-insured commercial banks 

and savings institutions increased by $28.4 billion (79.5 percent) from 

the previous quarter to $64.2 billion. A large decline in noninterest 

expense (down $22.5 billion, or 13.3 percent) was the primary driver 

of the increase in net income. A decline in the expense related to the 

special assessment accounted for more than half of the decline in 

noninterest expense. Higher noninterest income (up $10.3 billion, or 

15.2 percent) and lower provision expenses (down $4.3 billion, or 17.3 

percent) also contributed to the quarterly increase.

The banking industry reported an aggregate return-on-assets ratio 

(ROA) of 1.08 percent in first quarter 2024, up from 0.61 percent in 

fourth quarter 2023 but down from 1.36 percent in first quarter 2023.

Chart 1

Quarterly Net Income

All FDIC-Insured Institutions

$ Billions

Source: FDIC.

Net Operating Income

Securities Gains/Losses

-40

-20

0

20

40

60

80

100

2008 20092010 201120122013 2014 2015 20162017201820192020 202120222023 2024

Chart 2

Source: FDIC.

Percent

Quarterly Net Interest Margin

All FDIC-Insured Institutions

 Assets > $250 Billion

 Assets $10 Billion - $250 Billion

 Assets $1 Billion - $10 Billion

 Assets $100 Million - $1 Billion

 Assets < $100 Million

Industry

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
QUARTERLY 2024 VOLUME 18, NUMBER 2

2 

THE NET INTEREST MARGIN FELL 

FOR THE SECOND CONSECUTIVE 

QUARTER

The industry’s net interest margin (NIM) declined 10 basis points to 3.17 

percent in the first quarter. NIM declined as funding costs continued 

to increase while the yield on earning assets declined during the 

quarter. The industry’s first-quarter NIM was 7 basis points below the 

pre-pandemic average NIM.1

NET OPERATING REVENUE 

INCREASED FROM THE PREVIOUS 

QUARTER

Net operating revenue (net interest income plus noninterest income) 

increased $7.2 billion (3.0 percent) from the fourth quarter to $249.4 

billion. A decline in net interest income (down $3.0 billion, or 1.7 

percent) partially offset an increase in noninterest income (up $10.3 

billion, or 15.2 percent). Higher trading revenue (up $4.0 billion, or 

33.8 percent) and “all other” noninterest income (up $2.3 billion, or 7.2 

percent) led the increase in noninterest income.2 Just under half of all 

banks (45.1 percent) reported quarterly increases in noninterest income.

NONINTEREST EXPENSE DECLINED 

DUE TO A REDUCTION OF 

NONRECURRING ITEMS

Noninterest expense declined $22.5 billion (13.3 percent) from the 

previous quarter due to the reduction of nonrecurring expenses 

incurred by large banks in the fourth quarter. More than half of 

all banks (52.2 percent) reported declines in noninterest expense. 

Salaries and employee benefits increased $3.3 billion (4.8 percent). 

The efficiency ratio (noninterest expense as a share of net operating 

revenue) improved to 58.7 percent in the first quarter from 66.1 percent 

in the previous quarter.

1 The “pre-pandemic average” refers to the period of first quarter 2015 through fourth quarter 2019 and is used consistently throughout this report.

2 All other noninterest income includes material write-in items as well as income related to wire transfers and ATM fees, bank card and credit card interchange fees, safe 

deposit box rent, printing and sale of checks, earnings on/increase in value of cash surrender value of life insurance, and other noninterest sources.

Chart 3

Source: FDIC.

Quarter-Over-Quarter Change

($ Billions)

Change in Quarterly Credit Loss Provisions

All FDIC-Insured Institutions

-50

-40

-30

-20

-10

0

10

20

30

40

50

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Chart 4

Source: FDIC.

Note: ASC Topics 810 and 860 resulted in the consolidation of large amounts of securitized loan balances 

back onto banks’ balance sheets in the first quarter of 2010. Although the amount consolidated cannot be

precisely quantified, the industry would have reported a decline in loan balances for the quarter absent

this change in accounting standards.

$ Billions

Quarterly Change in Loan Balances

All FDIC-Insured Institutions

Quarterly Change (Le Axis)

12-Month Growth Rate (Right Axis) Percent

-10

-5

0

5

10

15

-300

-200

-100

0

100

200

300

400

500

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
QUARTERLY 2024 VOLUME 18, NUMBER 2

3 

PROVISION EXPENSES DECLINED 

FROM THE PREVIOUS QUARTER

Provisions for credit losses totaled $20.6 billion in first quarter 2024, 

down $4.3 billion from the previous quarter. Provision expenses have 

been higher than the pre-pandemic average for the past seven quarters. 

Fewer than half of all banks (40.8 percent) reported provision expenses 

that were lower than the previous quarter. The reserve coverage 

ratio (the ratio of the allowance for credit losses to noncurrent loans) 

declined from 203.3 percent in the previous quarter to 192.8 percent. The 

decline in the ratio was from noncurrent loan balances increasing at a 

faster pace than the allowance for credit losses.

ASSET QUALITY METRICS REMAINED 

GENERALLY FAVORABLE WITH THE 

EXCEPTION OF MATERIAL 

DETERIORATION IN CREDIT CARD 

AND CRE PORTFOLIOS

The share of loans and leases that were 90 days or more past due 

or in nonaccrual status increased to 0.91 percent, up 5 basis points 

from the previous quarter and 16 basis points from the year-earlier 

quarter. Despite the recent increases, the industry’s total noncurrent 

ratio remains 37 basis points below the pre-pandemic average of 1.28 

percent. However, the noncurrent rate for non-owner occupied CRE 

loans of 1.59 percent in first quarter 2024 was at its highest level since 

fourth quarter 2013, driven by office portfolios at the largest banks. 

The industry’s net charge-off rate of 0.65 percent was unchanged from 

the previous quarter but was 24 basis points higher than a year earlier. 

This ratio remains 17 basis points above the pre-pandemic average. 

Credit card loans had a net charge-off rate of 4.70 percent in the first 

quarter, up 55 basis points quarter over quarter and the highest rate 

since third quarter 2011.

Chart 5

Quarterly Change in Domestic Deposits

All FDIC-Insured Institutions

$ Billions

Source: FDIC.

-600

-400

-200

0

200

400

600

800

1,000

1,200

1,400

2008 2009 2010 2011 2012 2013 2014 2015 2016 20172018 2019 2020 2021 2022 2023 2024

Chart 6

Source: FDIC.

Percent

Noncurrent Loan Rate and Quarterly Net Charge-O
 Rate

All FDIC-Insured Institutions

Quarterly Net Charge-O Rate

Noncurrent Rate

0

1

2

3

4

5

6

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
QUARTERLY 2024 VOLUME 18, NUMBER 2

4 

UNREALIZED LOSSES ON 

SECURITIES INCREASED FROM THE 

PREVIOUS QUARTER TO $516.5 

BILLION3

Unrealized losses on securities totaled $516.5 billion in the first quarter, 

an increase of $38.9 billion (8.2 percent) from fourth quarter 2023. 

Higher unrealized losses on residential mortgage-backed securities 

accounted for almost 95 percent of the total decrease. Mortgage rates 

increased in the first quarter, which placed downward pressure on the 

underlying values of such investments.

BANKING INDUSTRY ASSETS 

INCREASED FROM FOURTH 

QUARTER 2023

The banking industry reported total assets of $24.0 trillion in first 

quarter 2024, an increase of $291.2 billion (1.2 percent) from fourth 

quarter 2023. The quarterly increase was mainly due to higher balances 

in trading accounts (up $176.1 billion, or 23.2 percent), cash and balances 

due from depository institutions (up $79.0 billion, or 2.8 percent), and 

securities (up $39.9 billion, or 0.7 percent).

LOAN BALANCES DECLINED 

MODESTLY FROM THE PREVIOUS 

QUARTER, BUT INCREASED FROM A 

YEAR AGO

Total loan and lease balances declined $34.8 billion (0.3 percent) from 

the previous quarter. Lower credit card loans (down $35.7 billion, or 3.2 

percent) and auto loans (down $7.6 billion, or 1.4 percent), primarily at 

large banks, drove the decline.

Total loan and lease balances increased $205.2 billion (1.7 percent) from 

the previous year. This increase was led by credit card loans (up $98.3 

billion, or 10.0 percent), 1–4 family residential loans (up $59.8 billion, 

or 2.4 percent), and nonfarm, nonresidential commercial real estate 

(CRE) loans (up $42.6 billion, or 2.4 percent). Almost 85 percent of banks 

reported annual loan growth.

3 Unrealized losses on securities reflect the difference between the market value as of quarter-end and the book value of non-equity securities. This calculation does not account 

for any unrealized gains or losses in accumulated other comprehensive income because these cannot be derived from Consolidated Reports of Condition and Income 

(Call Reports).

Chart 8

Number and Assets of Banks on the “Problem Bank List”

All FDIC-Insured Institutions

 Assets of Problem Banks (Right Axis)

 Number of Problem Banks (Le Axis) Number $ Billions

Note: The asset values of insured financial institutions on the problem bank list are what were

on record as of the last day of the quarter.

0

100

200

300

400

500

0

100

200

300

400

500

600

700

800

900

1,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Source: FDIC.

Chart 7

-675

-600

-525

-450

-375

-300

-225

-150

-75

0

75

150

Source: FDIC. Note: Insured Call Report filers only. Unrealized losses on securities solely reflect the dierence 

between the market value and book value of non-equity securities as of quarter end.

Unrealized Gains (Losses) on Investment Securities

All FDIC-Insured Institutions

$ Billions Held-to-Maturity Securities Available-for-Sale Securities

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
QUARTERLY 2024 VOLUME 18, NUMBER 2

5 

DOMESTIC DEPOSITS INCREASED 

FOR THE SECOND STRAIGHT 

QUARTER

Domestic deposits increased $190.7 billion (1.1 percent) from fourth 

quarter 2023, marking a second consecutive quarterly increase. Growth 

in transaction accounts led the increase (up $247.2 billion, or 4.0 

percent), offsetting a decline in savings deposit balances (down $125.5 

billion, or 1.5 percent). Estimated insured deposits increased $115.0 

billion (1.1 percent) quarter over quarter. Estimated uninsured domestic 

deposits increased $63.3 billion (0.9 percent) during the quarter, the 

first reported quarterly increase since fourth quarter 2021. After seven 

consecutive quarters of growth, brokered deposits declined $10.2 billion 

(0.8 percent) from the previous quarter.

EQUITY CAPITAL INCREASED FROM 

FOURTH QUARTER 2023

Equity capital rose $23.1 billion (1.0 percent) from fourth quarter 2023. The 

quarterly growth was due in part from higher retained earnings, but was 

partly offset by higher unrealized losses on available-for-sale securities, 

which lowered accumulated other comprehensive income. The advantage 

capital ratio increased 5 basis points from fourth quarter 2023 to 9.19 

percent. The number of institutions with capital ratios that did not meet 

Prompt Corrective Action requirements for the well-capitalized category 

increased by one from the previous quarter to seven.4

THE NUMBER OF PROBLEM BANKS 

INCREASED

The number of banks on the FDIC’s “Problem Bank List” increased 

from 52 to 63.5 Total assets held by problem banks rose $15.8 billion to 

$82.1 billion. Problem banks represent 1.4 percent of total banks, which 

is within the normal range for non-crisis periods of 1 to 2 percent of 

all banks.

THE TOTAL NUMBER OF INSURED 

INSTITUTIONS DECLINED

The total number of FDIC-insured institutions declined by 19 during the 

quarter to 4,568. One bank opened, four banks did not file a Call Report, 

and 16 institutions merged with other banks during the quarter.

Author:

Benjamin Tikvina

Senior Financial Analyst 

Division of Insurance and Research

4 Prompt Corrective Action categories are based on reported capital ratios only and do not include the effects of regulatory downgrades.

5 Banks on the FDIC’s “Problem Bank List” have a CAMELS composite rating of “4” or “5” due to financial, operational, or managerial weaknesses, or a combination of such 

issues. It is common for banks to move on or off this list each quarter.
QUARTERLY 2024 VOLUME 18, NUMBER 2

6 

TABLE I-A. Selected Indicators, All FDIC-Insured Institutions*

2024** 2023** 2023 2022 2021 2020 2019

Return on assets (%) 1.08 1.36 1.09 1.11 1.23 0.72 1.29

Return on equity (%) 11.15 14.42 11.39 11.82 12.21 6.85 11.38

Core capital (leverage) ratio (%) 9.19 9.14 9.14 8.97 8.73 8.82 9.66

Noncurrent assets plus other real estate owned to assets (%) 0.49 0.40 0.47 0.39 0.44 0.61 0.55

Net charge-offs to loans (%) 0.65 0.41 0.52 0.27 0.25 0.50 0.52

Asset growth rate (%) 1.00 -1.06 0.29 -0.51 8.46 17.29 3.92

Net interest margin (%) 3.17 3.31 3.30 2.95 2.54 2.82 3.36

Net operating income growth (%) -20.76 35.55 -1.33 -3.68 96.90 -38.77 -3.14

Number of institutions reporting 4,568 4,672 4,587 4,706 4,839 5,002 5,177

 Commercial banks 4,012 4,097 4,027 4,127 4,232 4,375 4,518

 Savings institutions 556 575 560 579 607 627 659

Percentage of unprofitable institutions (%) 6.92 4.56 5.28 3.55 3.10 4.70 3.73

Number of problem institutions 63 43 52 39 44 56 51

Assets of problem institutions (in billions)*** $82 $58 $66 $47 $170 $56 $46

Number of failed institutions 0 2 5 0 0 4 4

* Excludes insured branches of foreign banks (IBAs).

** Through March 31, ratios annualized where appropriate. Asset growth rates are for 12 months ending March 31.

*** Assets shown are what were on record as of the last day of the quarter.
QUARTERLY 2024 VOLUME 18, NUMBER 2

7 

TABLE II-A. Aggregate Condition and Income Data, All FDIC-Insured Institutions

(dollar figures in millions)

Number of institutions reporting 

1st Quarter

2024

4th Quarter

2023

1st Quarter

2023

%Change 

23Q1-24Q1

4,568 4,587 4,672 -2.2

Total employees (full-time equivalent) 2,073,967 2,078,684 2,129,289 -2.6

CONDITION DATA

Total assets $23,957,714 $23,666,557 $23,719,496 1.0

 Loans secured by real estate 5,944,677 5,927,098 5,802,239 2.5

 1-4 Family residential mortgages 2,566,160 2,564,844 2,506,399 2.4

 Nonfarm nonresidential 1,826,147 1,815,192 1,783,520 2.4

 Construction and development 498,510 500,172 479,191 4.0

 Home equity lines 270,287 271,590 269,808 0.2

 Commercial & industrial loans 2,488,705 2,481,344 2,527,811 -1.5

 Loans to individuals 2,085,639 2,135,613 2,037,730 2.4

 Credit cards 1,081,129 1,116,816 982,820 10.0

 Farm loans 79,662 82,509 69,935 13.9

 Other loans & leases 1,820,605 1,827,050 1,776,022 2.5

 Less: Unearned income 1,978 1,535 1,635 21.0

 Total loans & leases 12,417,309 12,452,078 12,212,103 1.7

Less: Reserve for losses* 218,575 217,825 202,050 8.2

Net loans and leases 12,198,735 12,234,254 12,010,053 1.6

Securities** 5,474,624 5,434,716 5,611,165 -2.4

Other real estate owned 2,979 2,870 2,687 10.9

Goodwill and other intangibles 422,892 423,262 435,451 -2.9

 All other assets 5,858,484 5,571,456 5,660,140 3.5

Total liabilities and capital 23,957,714 23,666,557 23,719,496 1.0

 Deposits 18,997,645 18,813,657 18,742,490 1.4

 Domestic office deposits 17,536,272 17,345,574 17,303,968 1.3

 Foreign office deposits 1,461,372 1,468,084 1,438,522 1.6

 Other borrowed funds 1,778,539 1,724,263 1,900,803 -6.4

 Subordinated debt 57,580 57,881 60,822 -5.3

 All other liabilities 806,273 776,258 753,122 7.1

 Total equity capital (includes minority interests) 2,317,676 2,294,498 2,262,259 2.4

 Bank equity capital 2,315,055 2,291,942 2,259,981 2.4

Loans and leases 30-89 days past due 70,816 75,459 63,505 11.5

Noncurrent loans and leases 113,384 107,133 92,190 23.0

Restructured loans and leases 40,355 36,457 12,840 214.3

Mortgage-backed securities 2,914,463 2,921,476 3,032,245 -3.9

Earning assets 21,763,616 21,484,095 21,522,921 1.1

FHLB Advances 542,327 584,285 804,443 -32.6

Unused loan commitments 9,901,003 9,742,129 9,693,585 2.1

Trust assets 34,408,273 33,218,072 18,455,175 86.4

Assets securitized and sold 443,288 446,023 384,707 15.2

Notional amount of derivatives 209,327,828 194,773,171 220,468,213 -5.1

INCOME DATA

Full Year

2023

Full Year 

2022 %Change

1st Quarter

2024

1st Quarter

2023

%Change 

23Q1-24Q1

Total interest income $1,150,054 $750,894 53.2 $311,722 $261,352 19.3

Total interest expense 451,830 117,579 284.3 140,159 85,612 63.7

 Net interest income 698,224 633,314 10.3 171,563 175,740 -2.4

Provision for credit losses*** 86,590 51,628 67.7 20,606 20,741 -0.7

Total noninterest income 305,341 290,844 5.0 77,846 85,969 -9.5

Total noninterest expense 592,709 538,056 10.2 147,452 141,334 4.3

Securities gains (losses) -11,494 -3,903 N/M -709 -2,176 N/M

Applicable income taxes 59,052 67,275 -12.2 16,446 17,560 -6.3

Extraordinary gains, net**** 878 -233 N/M 67 5 1,293.6

 Total net income (includes minority interests) 254,597 263,063 -3.2 64,263 79,901 -19.6

 Bank net income 254,187 262,806 -3.3 64,167 79,804 -19.6

Net charge-offs 63,023 31,455 100.4 20,297 12,427 63.3

Cash dividends 213,094 152,368 39.9 32,596 44,248 -26.3

Retained earnings 41,093 110,438 -62.8 31,570 35,556 -11.2

 Net operating income 263,113 266,652 -1.3 64,756 81,718 -20.8

* For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk. 

Beginning in 2024, almost all institutions have adopted ASU 2016-13.

** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, 

this item represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

**** See Notes to Users for explanation.

 N/M - Not Meaningful
QUARTERLY 2024 VOLUME 18, NUMBER 2

8 

TABLE III-A. First Quarter 2024, All FDIC-Insured Institutions

FIRST QUARTER

(The way it is...)

All Insured

Institutions

Asset Concentration Groups*

Credit 

Card

Banks

International

Banks

Agricultural

Banks

Commercial

Lenders

Mortgage

Lenders

Consumer

Lenders

Other

Specialized

<$1 Billion

All Other

<$1 Billion

All Other

>$1 Billion

Number of institutions reporting 4,568 10 5 993 2,521 314 45 226 389 65

 Commercial banks 4,012 9 5 981 2,290 91 35 209 336 56

 Savings institutions 556 1 0 12 231 223 10 17 53 9

Total assets (in billions) $23,957.7 $527.1 $6,048.9 $293.9 $8,534.0 $607.4 $388.9 $52.1 $90.3 $7,415.2

 Commercial banks 22,753.9 413.5 6,048.9 287.1 8,106.5 112.3 382.3 48.4 77.3 7,277.5

 Savings institutions 1,203.8 113.6 0.0 6.8 427.4 495.0 6.6 3.7 13.0 137.7

Total deposits (in billions) 18,997.6 402.2 4,559.4 248.3 6,893.1 492.4 325.0 43.4 77.6 5,956.2

 Commercial banks 18,029.1 315.6 4,559.4 244.2 6,557.0 89.5 319.2 41.1 67.0 5,835.9

 Savings institutions 968.6 86.6 0.0 4.1 336.1 402.8 5.7 2.3 10.6 120.3

Bank net income (in millions) 64,167 2,848 16,511 832 20,432 986 1,241 225 223 20,869

 Commercial banks 62,151 2,404 16,511 788 19,675 279 1,236 99 210 20,950

 Savings institutions 2,015 444 0 44 757 708 5 126 13 -81

Performance Ratios (annualized, %)

Yield on earning assets 5.77 14.56 5.78 5.36 5.57 3.43 7.33 4.53 4.99 5.49

Cost of funding earning assets 2.59 3.96 2.97 2.03 2.37 1.86 3.71 1.42 1.64 2.50

 Net interest margin 3.17 10.59 2.81 3.33 3.20 1.57 3.62 3.11 3.35 2.99

Noninterest income to assets 1.31 5.86 1.71 0.51 0.81 0.80 0.98 4.49 0.87 1.31

Noninterest expense to assets 2.48 9.03 2.46 2.27 2.32 1.50 2.12 5.06 2.78 2.30

Credit loss provision to assets** 0.35 4.10 0.28 0.06 0.19 0.01 0.63 0.10 0.05 0.35

Net operating income to assets 1.09 2.19 1.13 1.14 0.97 0.62 1.27 1.70 1.03 1.13

Pretax return on assets 1.35 2.85 1.45 1.28 1.20 0.82 1.63 2.24 1.13 1.38

Return on assets 1.08 2.19 1.11 1.13 0.96 0.64 1.27 1.74 0.99 1.13

Return on equity 11.15 21.76 12.43 12.11 9.32 8.29 14.50 14.47 10.52 11.62

Net charge-offs to loans and leases 0.65 4.76 0.77 0.03 0.25 0.03 1.06 0.26 0.06 0.78

Loan and lease loss provision to net 

charge-offs 103.98 105.12 102.83 260.88 118.12 88.06 88.90 149.03 133.01 97.76

Efficiency ratio 58.66 56.15 58.08 62.16 61.52 64.86 48.30 68.56 69.30 56.72

% of unprofitable institutions 6.92 10.00 0.00 3.22 5.00 26.11 13.33 14.16 8.48 6.15

% of institutions with earnings gains 36.01 30.00 0.00 40.68 35.70 25.80 35.56 36.73 33.93 40.00

Condition Ratios (%)

Earning assets to total assets 90.84 95.59 89.15 93.98 91.15 95.86 94.26 91.86 93.74 90.77

Loss Allowance to:

 Loans and leases 1.76 7.21 1.89 1.30 1.33 0.62 1.95 1.54 1.26 1.81

 Noncurrent loans and leases 192.77 415.76 250.08 239.04 161.41 132.42 332.66 211.19 205.24 159.17

Noncurrent assets plus other real estate 

owned to assets 0.49 1.40 0.27 0.38 0.57 0.18 0.45 0.23 0.37 0.54

Equity capital ratio 9.66 9.98 8.86 9.38 10.30 7.93 8.84 11.94 9.42 9.74

Core capital (leverage) ratio 9.19 10.32 8.07 10.84 9.82 10.86 9.88 15.29 11.64 8.93

Common equity tier 1 capital ratio*** 13.98 12.09 15.17 13.64 12.50 29.24 14.70 35.16 18.21 14.52

Tier 1 risk-based capital ratio*** 14.03 12.23 15.24 13.64 12.56 29.24 14.73 35.34 18.21 14.57

Total risk-based capital ratio*** 15.38 14.13 16.34 14.72 13.91 29.73 15.74 36.15 19.28 16.11

Net loans and leases to deposits 64.21 98.41 44.86 76.49 81.35 44.73 88.37 32.00 64.44 56.90

Net loans and leases to total assets 50.92 75.10 33.81 64.63 65.71 36.26 73.85 26.67 55.40 45.70

Domestic deposits to total assets 73.20 76.31 54.19 84.49 80.67 80.86 83.56 83.33 85.95 78.03

Structural Changes

 New reporters 1 0 0 0 0 0 0 1 0 0

 Institutions absorbed by mergers 16 0 0 4 9 2 0 0 1 0

 Failed institutions 0 0 0 0 0 0 0 0 0 0

PRIOR FIRST QUARTERS

(The way it was...)

Number of institutions 2023 4,672 10 5 1,016 2,516 314 41 282 416 72

 2021 4,978 11 5 1,124 2,645 270 39 297 510 77

 2019 5,362 12 5 1,316 2,854 395 70 234 423 53

Total assets (in billions) 2023 $23,719.5 $464.2 $5,768.6 $279.8 $8,328.7 $730.7 $382.4 $62.0 $97.0 $7,606.2

 2021 22,546.9 493.9 5,735.3 279.3 7,867.6 672.6 151.6 58.2 116.3 7,172.0

 2019 18,090.0 663.3 4,340.2 283.8 6,327.0 356.1 220.2 38.5 75.1 5,785.7

Return on assets (%) 2023 1.36 3.16 1.25 1.26 1.57 0.67 1.35 2.15 1.07 1.18

 2021 1.38 5.74 1.38 1.45 1.33 0.93 2.73 2.04 1.22 1.15

 2019 1.35 3.05 1.21 1.33 1.23 1.21 1.32 3.55 1.09 1.39

Net charge-offs to loans & leases (%) 2023 0.41 3.18 0.48 0.04 0.15 0.04 0.85 0.20 0.10 0.48

 2021 0.34 2.66 0.55 0.02 0.15 0.02 0.27 0.05 0.04 0.30

 2019 0.50 4.09 0.55 0.19 0.17 0.02 0.79 0.24 0.08 0.38

Noncurrent assets plus OREO 

to assets (%) 2023 0.40 1.12 0.24 0.35 0.47 0.14 0.48 0.21 0.35 0.43

 2021 0.57 0.87 0.34 0.65 0.72 0.25 0.25 0.33 0.56 0.60

 2019 0.60 1.20 0.38 0.92 0.64 1.21 0.47 0.46 0.70 0.60

Equity capital ratio (%) 2023 9.53 10.45 9.38 9.12 9.98 5.79 8.16 10.36 8.96 9.54

 2021 9.98 13.25 8.84 10.92 10.88 8.12 8.74 14.66 11.14 9.79

 2019 11.37 15.22 9.85 11.70 12.09 11.05 10.61 17.16 12.47 11.25

* See Table IV-A for explanations.

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 

2016-13, the numerator represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** Beginning March 2020, does not include institutions that have a Community Bank Leverage Ratio election in effect at the report date.
QUARTERLY 2024 VOLUME 18, NUMBER 2

9 

TABLE III-A. First Quarter 2024, All FDIC-Insured Institutions

FIRST QUARTER

(The way it is...)

All Insured

Institutions

Asset Size Distribution Geographic Regions*

Less Than 

$100

Million

$100 

Million to 

$1 Billion

$1 Billion

to $10 

Billion

$10 Billion

to $250 

Billion

Greater

Than $250

Billion New York Atlanta Chicago

Kansas

City Dallas

San

Francisco

Number of institutions reporting 4,568 694 2,851 866 143 14 538 517 978 1,164 1,032 339

 Commercial banks 4,012 610 2,530 730 129 13 283 476 846 1,129 968 310

 Savings institutions 556 84 321 136 14 1 255 41 132 35 64 29

Total assets (in billions) $23,957.7 $42.9 $1,069.3 $2,389.6 $6,561.5 $13,894.4 $4,641.3 $4,895.5 $6,116.3 $4,254.0 $1,988.4 $2,062.1

 Commercial banks 22,753.9 38.1 939.4 2,057.4 6,111.4 13,607.7 4,272.1 4,880.9 6,040.7 4,194.7 1,478.4 1,887.2

 Savings institutions 1,203.8 4.9 129.9 332.3 450.1 286.7 369.2 14.6 75.6 59.4 510.1 175.0

Total deposits (in billions) 18,997.6 35.6 903.7 1,960.2 5,304.5 10,793.7 3,667.0 3,922.3 4,636.0 3,454.9 1,650.7 1,666.8

 Commercial banks 18,029.1 32.0 800.3 1,701.6 4,939.7 10,555.4 3,375.7 3,910.5 4,582.1 3,404.7 1,228.4 1,527.8

 Savings institutions 968.6 3.6 103.4 258.5 364.8 238.3 291.3 11.9 53.9 50.2 422.3 138.9

Bank net income (in millions) 64,167 90 2,780 6,580 17,990 36,726 9,601 12,484 18,125 11,130 4,485 8,341

 Commercial banks 62,151 85 2,451 6,079 16,977 36,559 9,134 12,465 17,850 10,863 4,123 7,715

 Savings institutions 2,015 6 329 500 1,013 167 467 20 274 266 362 626

Performance Ratios (annualized, %)

Yield on earning assets 5.77 5.25 5.40 5.70 6.33 5.54 6.01 5.53 5.47 5.80 5.10 7.22

Cost of funding earning assets 2.59 1.55 1.98 2.31 2.73 2.63 3.12 2.33 2.47 2.59 2.15 2.84

 Net interest margin 3.17 3.69 3.41 3.39 3.61 2.91 2.88 3.21 3.00 3.21 2.95 4.38

Noninterest income to assets 1.31 1.48 1.10 1.04 1.32 1.36 1.28 0.96 1.53 1.16 0.79 2.35

Noninterest expense to assets 2.48 3.83 3.00 2.61 2.68 2.32 2.42 2.26 2.45 2.45 2.27 3.48

Credit loss provision to assets** 0.35 0.09 0.09 0.21 0.51 0.31 0.36 0.41 0.20 0.33 0.16 0.84

Net operating income to assets 1.09 0.87 1.05 1.10 1.13 1.07 0.84 1.02 1.23 1.05 0.92 1.66

Pretax return on assets 1.35 0.97 1.22 1.39 1.42 1.33 1.10 1.20 1.54 1.30 1.09 2.12

Return on assets 1.08 0.84 1.05 1.11 1.10 1.07 0.84 1.02 1.20 1.05 0.90 1.62

Return on equity 11.15 6.49 10.58 10.89 10.97 11.35 8.22 10.33 12.95 11.11 9.80 16.02

Net charge-offs to loans and leases 0.65 0.06 0.09 0.26 0.75 0.77 0.67 0.80 0.42 0.67 0.21 1.18

Loan and lease loss provision to net 

charge-offs 103.98 259.53 149.09 115.05 110.30 97.86 99.73 102.27 102.55 102.11 137.00 108.24

Efficiency ratio 58.66 77.82 69.40 61.82 57.11 57.97 61.89 58.12 57.40 59.78 63.77 53.34

% of unprofitable institutions 6.92 16.57 5.79 3.46 4.20 0.00 11.71 8.70 7.36 3.44 5.81 10.62

% of institutions with earnings gains 36.01 38.04 36.48 33.37 34.27 21.43 27.14 36.56 35.38 39.78 38.86 29.50

Condition Ratios (%)

Earning assets to total assets 90.84 93.14 93.90 93.15 92.07 89.62 90.08 90.55 90.00 90.72 92.72 94.18

Loss Allowance to:

 Loans and leases 1.76 1.40 1.28 1.32 1.90 1.85 1.75 1.74 1.58 1.85 1.30 2.42

 Noncurrent loans and leases 192.77 156.67 218.27 193.06 198.20 187.27 164.55 190.89 197.57 197.31 137.81 295.52

Noncurrent assets plus other real 

estate owned to assets 0.49 0.55 0.42 0.51 0.62 0.43 0.57 0.48 0.39 0.47 0.56 0.56

Equity capital ratio 9.66 13.00 9.87 10.16 10.05 9.37 10.13 9.90 9.21 9.46 9.25 10.22

Core capital (leverage) ratio 9.19 14.45 11.35 10.67 9.68 8.50 9.46 8.79 8.65 8.97 10.30 10.39

Common equity tier 1 capital ratio*** 13.98 22.76 15.51 13.58 13.48 14.23 14.17 13.25 14.23 13.26 15.44 14.68

Tier 1 risk-based capital ratio*** 14.03 22.77 15.57 13.60 13.59 14.27 14.20 13.30 14.28 13.34 15.54 14.72

Total risk-based capital ratio*** 15.38 23.81 16.69 14.68 14.98 15.66 15.51 14.59 15.69 14.85 16.72 16.03

Net loans and leases to deposits 64.21 67.12 76.89 84.39 77.16 53.12 65.72 63.20 61.43 58.77 66.11 80.42

Net loans and leases to total assets 50.92 55.70 64.98 69.22 62.37 41.26 51.93 50.63 46.56 47.73 54.88 65.00

Domestic deposits to total assets 73.20 82.98 84.51 81.94 79.46 67.84 74.98 77.54 66.84 67.29 83.00 80.48

Structural Changes

 New reporters 1 1 0 0 0 0 0 1 0 0 0 0

 Institutions absorbed by mergers 16 5 10 1 0 0 1 2 2 7 1 3

 Failed institutions 0 0 0 0 0 0 0 0 0 0 0 0

PRIOR FIRST QUARTERS 

(The way it was...)

Number of institutions 2023 4,672 744 2,939 829 146 14 551 529 1,002 1,194 1,048 348

 2021 4,978 895 3,119 806 145 13 587 568 1,064 1,285 1,103 371

 2019 5,362 1,267 3,306 648 132 9 652 621 1,156 1,368 1,172 393

Total assets (in billions) 2023 $23,719.5 $44.9 $1,084.4 $2,266.0 $6,814.6 $13,509.6 $4,504.9 $4,868.1 $5,755.5 $4,186.9 $2,029.3 $2,374.9

 2021 22,546.9 54.8 1,118.0 2,133.6 6,639.2 12,601.4 4,109.7 4,607.6 5,417.3 4,191.8 1,871.5 2,349.0

 2019 18,090.0 75.5 1,096.4 1,710.1 6,315.1 8,892.9 3,362.7 3,704.5 4,125.9 3,678.0 1,149.5 2,069.5

Return on assets (%) 2023 1.36 0.99 1.21 1.16 1.80 1.19 1.22 2.00 1.25 1.24 1.02 1.15

 2021 1.38 1.06 1.35 1.53 1.60 1.25 1.19 1.35 1.44 1.35 1.20 1.87

 2019 1.35 0.99 1.23 1.24 1.44 1.33 1.16 1.39 1.32 1.30 1.33 1.74

Net charge-offs to loans & leases (%) 2023 0.41 0.04 0.05 0.22 0.45 0.48 0.39 0.50 0.28 0.38 0.11 0.77

 2021 0.34 0.04 0.04 0.15 0.41 0.39 0.35 0.36 0.28 0.42 0.13 0.43

 2019 0.50 0.13 0.09 0.17 0.73 0.46 0.61 0.58 0.24 0.52 0.20 0.79

Noncurrent assets plus OREO 

to assets (%) 2023 0.40 0.49 0.34 0.43 0.50 0.35 0.48 0.38 0.34 0.40 0.47 0.41

 2021 0.57 0.70 0.55 0.60 0.79 0.45 0.57 0.53 0.46 0.62 1.03 0.44

 2019 0.60 0.96 0.74 0.64 0.63 0.55 0.57 0.64 0.54 0.68 0.80 0.46

Equity capital ratio (%) 2023 9.53 12.58 9.56 9.83 9.72 9.37 10.03 9.72 9.45 9.52 8.12 9.61

 2021 9.98 13.20 10.78 10.72 10.62 9.43 10.39 10.58 9.30 9.81 9.74 10.16

 2019 11.37 13.81 11.71 11.97 12.26 10.55 12.75 12.16 10.33 10.36 11.94 11.21

* See Table IV-A for explanations.

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 

2016-13, the numerator represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** Beginning March 2020, does not include institutions that have a Community Bank Leverage Ratio election in effect at the report date.
QUARTERLY 2024 VOLUME 18, NUMBER 2

10 

TABLE IV-A. Full Year 2023, All FDIC-Insured Institutions

FULL YEAR

(The way it is...)

All Insured

Institutions

Asset Concentration Groups*

Credit 

Card

Banks

International

Banks

Agricultural

Banks

Commercial

Lenders

Mortgage

Lenders

Consumer

Lenders

Other

Specialized

<$1 Billion

All Other

<$1Billion

All Other

>$1 Billion

Number of institutions reporting 4,587 10 5 1,017 2,502 326 40 226 395 66

 Commercial banks 4,027 9 5 1,006 2,274 95 31 209 342 56

 Savings institutions 560 1 0 11 228 231 9 17 53 10

Total assets (in billions) $23,666.6 $514.4 $5,855.9 $303.4 $8,415.9 $619.8 $393.3 $50.6 $94.6 $7,418.6

 Commercial banks 22,451.2 404.8 5,855.9 297.0 7,991.0 109.1 387.6 46.9 81.7 7,277.3

 Savings institutions 1,215.4 109.6 0.0 6.4 424.9 510.8 5.7 3.8 13.0 141.3

Total deposits (in billions) 18,813.7 391.8 4,457.0 256.0 6,776.6 507.0 322.3 42.1 81.1 5,979.7

 Commercial banks 17,832.0 308.3 4,457.0 252.2 6,444.4 87.4 317.5 39.7 70.6 5,854.9

 Savings institutions 981.7 83.5 0.0 3.8 332.2 419.6 4.9 2.4 10.5 124.8

Bank net income (in millions) 254,187 12,512 64,646 3,462 82,536 3,693 4,732 692 974 80,939

 Commercial banks 245,368 10,511 64,646 3,292 79,060 1,060 4,714 128 898 81,059

 Savings institutions 8,819 2,001 0 171 3,475 2,633 19 564 76 -120

Performance Ratios (%)

Yield on earning assets 5.43 14.12 5.39 4.96 5.29 3.23 6.97 4.18 4.56 5.19

Cost of funding earning assets 2.13 3.55 2.49 1.56 1.91 1.62 3.31 1.11 1.21 2.03

 Net interest margin 3.30 10.57 2.89 3.40 3.37 1.61 3.66 3.07 3.35 3.16

Noninterest income to assets 1.31 6.32 1.65 0.57 0.98 0.71 1.02 4.75 0.87 1.15

Noninterest expense to assets 2.54 9.01 2.44 2.32 2.53 1.45 2.14 4.86 2.72 2.30

Credit loss provision to assets** 0.37 4.04 0.30 0.07 0.23 0.01 0.74 0.18 0.09 0.37

Net operating income to assets 1.13 2.61 1.16 1.20 1.05 0.61 1.23 1.87 1.07 1.12

Pretax return on assets 1.34 3.39 1.42 1.33 1.22 0.75 1.59 1.96 1.17 1.32

Return on assets 1.09 2.61 1.11 1.18 1.00 0.58 1.23 1.31 1.04 1.10

Return on equity 11.39 25.24 11.99 13.21 9.99 9.00 14.73 11.72 11.77 11.50

Net charge-offs to loans and leases 0.52 3.61 0.59 0.06 0.21 0.03 1.03 0.73 0.08 0.62

Loan and lease loss provision to net 

charge-offs 136.46 133.83 138.84 179.34 163.45 123.86 95.64 100.07 177.17 127.93

Efficiency ratio 57.47 54.39 57.54 61.52 58.56 64.30 47.02 63.14 67.84 56.91

% of unprofitable institutions 5.28 0.00 0.00 2.26 4.20 17.79 17.50 10.62 5.32 6.06

% of institutions with earnings gains 47.53 60.00 40.00 53.49 46.28 32.21 45.00 59.29 46.58 43.94

Condition Ratios (%)

Earning assets to total assets 90.78 95.50 89.03 93.41 91.02 95.95 94.24 91.71 93.63 90.79

Loss Allowance to:

 Loans and leases 1.75 7.06 1.87 1.29 1.31 0.63 1.95 1.57 1.27 1.82

 Noncurrent loans and leases 203.32 424.19 258.49 265.21 173.04 139.29 312.49 225.96 219.65 168.03

Noncurrent assets plus other real estate 

owned to assets 0.47 1.40 0.27 0.35 0.53 0.17 0.47 0.22 0.35 0.52

Equity capital ratio 9.68 10.12 9.00 9.29 10.31 7.52 8.62 12.51 9.44 9.72

Core capital (leverage) ratio 9.14 10.85 8.04 10.79 9.74 10.60 9.87 15.79 11.59 8.87

Common equity tier 1 capital ratio*** 13.86 12.32 15.23 13.45 12.37 28.18 14.58 36.66 17.95 14.30

Tier 1 risk-based capital ratio*** 13.92 12.46 15.30 13.45 12.43 28.18 14.61 36.66 17.95 14.35

Total risk-based capital ratio*** 15.25 14.38 16.40 14.52 13.76 28.67 15.62 37.51 18.99 15.86

Net loans and leases to deposits 65.03 102.33 46.27 76.51 81.90 43.27 90.00 31.90 64.22 57.70

Net loans and leases to total assets 51.69 77.94 35.22 64.55 65.95 35.39 73.77 26.51 55.04 46.50

Domestic deposits to total assets 73.29 76.17 54.27 84.37 80.42 81.59 81.97 83.12 85.68 78.19

Structural Changes

 New reporters 6 0 0 0 0 0 0 6 0 0

 Institutions absorbed by mergers 107 0 0 21 75 0 0 2 6 3

 Failed institutions 5 0 0 2 1 0 0 0 0 2

PRIOR FULL YEARS

(The way it was...)

Number of institutions 2022 4,706 10 5 1,054 2,501 320 35 300 410 71 2020 5,002 11 5 1,163 2,667 291 36 277 485 67

 2018 5,406 12 5 1,346 2,866 401 69 227 431 49

Total assets (in billions) 2022 $23,598.3 $452.8 $5,745.9 $298.5 $8,138.9 $720.6 $590.4 $70.3 $95.9 $7,485.1

 2020 21,868.8 492.6 5,539.4 287.7 7,591.0 684.0 144.8 51.5 105.7 6,972.0

 2018 17,943.0 651.7 4,285.9 286.8 6,373.8 346.0 218.3 36.7 75.9 5,667.9

Return on assets (%) 2022 1.11 3.67 0.95 1.22 1.18 0.86 1.33 1.99 1.01 1.03

 2020 0.72 1.92 0.70 1.29 0.74 0.92 1.59 2.59 1.10 0.53

 2018 1.35 2.96 1.17 1.32 1.26 1.13 1.42 2.94 1.12 1.40

Net charge-offs to loans & leases (%) 2022 0.27 2.12 0.32 0.05 0.11 0.01 0.38 0.13 0.06 0.31

 2020 0.50 3.73 0.69 0.15 0.25 0.05 0.52 0.19 0.07 0.43

 2018 0.48 3.87 0.50 0.15 0.18 0.02 0.76 1.41 0.17 0.37

Noncurrent assets plus OREO 

to assets (%) 2022 0.39 1.06 0.23 0.35 0.48 0.15 0.34 0.22 0.33 0.42

 2020 0.61 0.92 0.38 0.69 0.76 0.30 0.26 0.34 0.56 0.66

 2018 0.60 1.26 0.39 0.83 0.63 1.28 0.49 0.43 0.73 0.62

Equity capital ratio (%) 2022 9.34 10.65 9.26 8.66 9.76 5.27 8.15 10.27 8.35 9.38

 2020 10.17 12.61 8.95 11.37 11.23 8.40 9.21 15.79 11.81 9.90

 2018 11.25 15.29 9.88 11.34 11.94 11.08 10.51 16.74 12.31 11.04

*Asset Concentration Group Definitions (Groups are hierarchical and mutually exclusive):

Credit-card Lenders - Institutions whose credit-card loans plus securitized receivables exceed 50 percent of total assets plus securitized receivables.

International Banks - Banks with assets greater than $10 billion and more than 25 percent of total assets in foreign offices.

Agricultural Banks - Banks whose agricultural production loans plus real estate loans secured by farmland exceed 25 percent of the total loans and leases.

Commercial Lenders - Institutions whose commercial and industrial loans, plus real estate construction and development loans, plus loans secured by commercial real estate properties exceed 

25 percent of total assets.

Mortgage Lenders - Institutions whose residential mortgage loans, plus mortgage-backed securities, exceed 50 percent of total assets.

Consumer Lenders - Institutions whose residential mortgage loans, plus credit-card loans, plus other loans to individuals, exceed 50 percent of total assets.

Other Specialized < $1 Billion - Institutions with assets less than $1 billion, whose loans and leases are less than 40 percent of total assets.

All Other < $1 billion - Institutions with assets less than $1 billion that do not meet any of the definitions above, they have significant lending activity with no identified asset concentrations.

All Other > $1 billion - Institutions with assets greater than $1 billion that do not meet any of the definitions above, they have significant lending activity with no identified asset concentrations.

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, the 

numerator represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** Beginning March 2020, does not include institutions that have a Community Bank Leverage Ratio election in effect at the report date.
QUARTERLY 2024 VOLUME 18, NUMBER 2

11 

TABLE IV-A. Full Year 2023, All FDIC-Insured Institutions

FULL YEAR

(The way it is...)

All Insured

Institutions

Asset Size Distribution Geographic Regions*

Less Than 

$100

Million

$100 

Million to 

$1 Billion

$1 Billion

to $10 

Billion

$10 Billion

to $250 

Billion

Greater

Than $250

Billion New York Atlanta Chicago

Kansas

City Dallas

San

Francisco

Number of institutions reporting 4,587 699 2,899 831 144 14 540 519 979 1,171 1,035 343

 Commercial banks 4,027 611 2,575 698 130 13 285 476 847 1,135 970 314

 Savings institutions 560 88 324 133 14 1 255 43 132 36 65 29

Total assets (in billions) $23,666.6 $42.9 $1,096.4 $2,336.9 $6,541.5 $13,648.8 $4,537.7 $4,871.1 $5,974.3 $4,225.8 $2,001.9 $2,055.8

 Commercial banks 22,451.2 37.9 964.7 2,005.9 6,098.6 13,344.2 4,171.4 4,856.8 5,899.1 4,167.1 1,472.7 1,884.0

 Savings institutions 1,215.4 5.1 131.8 331.1 443.0 304.5 366.3 14.4 75.1 58.6 529.2 171.8

Total deposits (in billions) 18,813.7 35.4 924.4 1,907.9 5,272.2 10,673.7 3,616.0 3,893.7 4,577.5 3,421.8 1,653.0 1,651.6

 Commercial banks 17,832.0 31.7 819.9 1,650.2 4,914.1 10,416.1 3,327.5 3,882.0 4,523.9 3,372.2 1,211.4 1,514.9

 Savings institutions 981.7 3.8 104.5 257.7 358.1 257.6 288.5 11.7 53.6 49.6 441.5 136.7

Bank net income (in millions) 254,187 381 11,687 25,693 76,848 139,578 41,473 55,961 71,731 42,054 18,306 24,660

 Commercial banks 245,368 355 10,273 23,553 72,514 138,672 39,051 55,871 70,594 41,282 16,647 21,923

 Savings institutions 8,819 26 1,414 2,139 4,334 906 2,422 90 1,138 772 1,660 2,737

Performance Ratios (%)

Yield on earning assets 5.43 4.89 5.01 5.40 5.95 5.22 5.62 5.23 5.15 5.50 4.77 6.76

Cost of funding earning assets 2.13 1.08 1.48 1.83 2.28 2.17 2.56 1.87 2.02 2.16 1.76 2.44

 Net interest margin 3.30 3.81 3.52 3.56 3.68 3.04 3.06 3.36 3.13 3.34 3.00 4.32

Noninterest income to assets 1.31 1.50 1.13 0.99 1.43 1.31 1.20 1.24 1.52 1.08 0.77 2.09

Noninterest expense to assets 2.54 3.89 2.98 2.63 2.72 2.39 2.42 2.47 2.47 2.48 2.28 3.54

Credit loss provision to assets** 0.37 0.08 0.11 0.23 0.53 0.34 0.36 0.43 0.26 0.36 0.15 0.82

Net operating income to assets 1.13 0.92 1.14 1.17 1.25 1.06 0.94 1.19 1.27 1.02 0.94 1.38

Pretax return on assets 1.34 1.05 1.29 1.41 1.48 1.27 1.17 1.35 1.53 1.24 1.09 1.60

Return on assets 1.09 0.90 1.09 1.13 1.19 1.03 0.92 1.17 1.22 1.00 0.91 1.22

Return on equity 11.39 7.14 11.49 11.56 12.28 10.93 9.20 11.95 12.96 10.62 10.89 12.60

Net charge-offs to loans and leases 0.52 0.08 0.10 0.25 0.59 0.59 0.49 0.62 0.36 0.50 0.20 0.98

Loan and lease loss provision to net 

charge-offs 136.46 183.13 168.47 128.89 141.33 133.27 135.84 131.64 154.95 137.61 148.94 125.71

Efficiency ratio 57.47 76.94 66.84 60.48 54.63 57.66 58.73 54.36 56.48 60.20 63.44 55.59

% of unprofitable institutions 5.28 12.30 4.42 2.65 3.47 7.14 8.15 6.74 5.62 2.31 4.44 10.20

% of institutions with earnings gains 47.53 58.23 48.29 38.03 35.42 42.86 37.04 54.34 46.27 45.52 53.33 46.65

Condition Ratios (%)

Earning assets to total assets 90.78 92.75 93.66 93.01 92.05 89.55 90.17 90.35 89.84 90.68 92.81 94.10

Loss Allowance to:

 Loans and leases 1.75 1.38 1.28 1.32 1.87 1.84 1.75 1.74 1.57 1.82 1.29 2.38

 Noncurrent loans and leases 203.32 176.03 240.46 202.74 210.32 196.21 176.10 202.22 215.46 195.31 147.74 308.50

Noncurrent assets plus other real 

estate owned to assets 0.47 0.48 0.39 0.49 0.58 0.42 0.55 0.46 0.37 0.48 0.51 0.53

Equity capital ratio 9.68 13.01 9.88 10.13 10.00 9.43 10.25 9.91 9.32 9.43 9.11 10.06

Core capital (leverage) ratio 9.14 14.49 11.32 10.60 9.64 8.45 9.50 8.71 8.58 8.95 10.18 10.32

Common equity tier 1 capital ratio*** 13.86 22.53 15.38 13.46 13.37 14.12 14.01 13.15 14.21 13.12 15.26 14.50

Tier 1 risk-based capital ratio*** 13.92 22.53 15.44 13.48 13.48 14.15 14.04 13.21 14.27 13.20 15.36 14.55

Total risk-based capital ratio*** 15.25 23.57 16.55 14.55 14.85 15.53 15.33 14.45 15.68 14.69 16.51 15.84

Net loans and leases to deposits 65.03 67.20 77.22 84.94 77.78 54.11 66.59 63.81 62.38 60.09 65.54 81.54

Net loans and leases to total assets 51.69 55.46 65.10 69.35 62.69 42.31 53.06 51.01 47.80 48.66 54.12 65.51

Domestic deposits to total assets 73.29 82.53 84.31 81.56 79.28 68.09 75.57 77.31 67.56 66.67 82.55 79.99

Structural Changes

 New reporters 6 6 0 0 0 0 1 0 2 0 0 3

 Institutions absorbed by mergers 107 29 54 21 3 0 12 14 30 27 21 3

 Failed institutions 5 1 1 0 3 0 1 0 0 2 0 2

PRIOR FULL YEARS 

(The way it was...)

Number of institutions 2022 4,706 761 2,964 823 145 13 558 534 1,011 1,198 1,053 352

 2020 5,002 946 3,129 776 138 13 593 570 1,069 1,292 1,107 371

 2018 5,406 1,278 3,353 638 128 9 659 626 1,163 1,379 1,182 397

Total assets (in billions) 2022 $23,598.3 $46.3 $1,098.0 $2,277.1 $7,091.5 $13,085.5 $4,545.9 $4,614.2 $5,575.3 $4,243.2 $1,992.9 $2,626.9

 2020 21,868.8 57.2 1,101.4 2,069.8 6,358.4 12,282.0 4,015.1 4,485.2 5,205.7 4,134.1 1,792.6 2,236.1

 2018 17,943.0 75.9 1,108.6 1,734.8 6,202.3 8,821.4 3,362.0 3,677.0 4,042.6 3,670.8 1,133.1 2,057.6

Return on assets (%) 2022 1.11 0.84 1.18 1.30 1.25 1.01 1.03 1.15 1.09 0.97 1.12 1.49

 2020 0.72 0.84 1.21 1.11 0.71 0.61 0.62 0.59 0.87 0.49 0.98 1.03

 2018 1.35 1.01 1.23 1.33 1.46 1.29 1.22 1.44 1.26 1.25 1.40 1.74

Net charge-offs to loans & leases (%) 2022 0.27 0.06 0.05 0.15 0.28 0.32 0.26 0.34 0.18 0.27 0.09 0.43

 2020 0.50 0.13 0.12 0.22 0.66 0.51 0.48 0.54 0.41 0.53 0.31 0.70

 2018 0.48 0.18 0.16 0.20 0.70 0.43 0.59 0.55 0.23 0.50 0.24 0.73

Noncurrent assets plus OREO 

to assets (%) 2022 0.39 0.51 0.34 0.47 0.46 0.35 0.47 0.39 0.33 0.39 0.44 0.37

 2020 0.61 0.74 0.60 0.65 0.83 0.50 0.60 0.55 0.52 0.70 1.08 0.48

 2018 0.60 0.97 0.73 0.64 0.62 0.57 0.58 0.65 0.54 0.68 0.76 0.44

Equity capital ratio (%) 2022 9.34 12.37 9.22 9.64 9.50 9.20 9.83 9.73 9.24 9.21 7.83 9.38

 2020 10.17 13.43 11.27 10.94 10.84 9.58 10.49 10.78 9.59 9.83 10.08 10.44

 2018 11.25 13.57 11.50 11.91 12.08 10.49 12.53 12.07 10.35 10.23 11.81 11.02

* Regions:

New York - Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Puerto Rico, Rhode Island, Vermont, U.S. Virgin Islands

Atlanta - Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, West Virginia

Chicago - Illinois, Indiana, Kentucky, Michigan, Ohio, Wisconsin

Kansas City - Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota

Dallas - Arkansas, Colorado, Louisiana, Mississippi, New Mexico, Oklahoma, Tennessee, Texas

San Francisco - Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon, Pacific Islands, Utah, Washington, Wyoming

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, the 

numerator represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** Beginning March 2020, does not include institutions that have a Community Bank Leverage Ratio election in effect at the report date.
QUARTERLY 2024 VOLUME 18, NUMBER 2

12 

TABLE V-A. Loan Performance, All FDIC-Insured Institutions

March 31, 2024 All Insured 

Institutions

Asset Concentration Groups*

Credit 

Card

Banks

International

Banks

Agricultural

Banks

Commercial

Lenders

Mortgage

Lenders

Consumer

Lenders

Other

Specialized

<$1 Billion

All Other

<$1 Billion

All Other

>$1 

Billion

Percent of Loans 30-89 Days Past Due

All loans secured by real estate 0.44 0.34 0.31 0.59 0.46 0.38 0.13 0.74 0.83 0.49

 Construction and development 0.38 0.41 0.50 0.58 0.38 0.41 0.11 0.62 0.56 0.31

 Nonfarm nonresidential 0.26 0.04 0.28 0.42 0.23 0.18 0.02 0.56 0.65 0.36

 Multifamily residential real estate 0.21 0.00 0.15 0.19 0.24 0.09 0.05 0.51 0.30 0.18

 Home equity loans 0.56 0.00 0.84 0.48 0.55 0.37 0.40 0.51 0.74 0.53

 Other 1-4 family residential 0.64 0.38 0.34 0.78 0.84 0.41 0.15 1.00 1.01 0.57

Commercial and industrial loans 0.30 0.86 0.43 0.93 0.29 0.32 0.63 0.96 0.94 0.19

Loans to individuals 1.53 1.66 1.14 0.98 1.12 0.33 2.34 1.52 1.23 1.76

 Credit card loans 1.55 1.69 1.19 1.37 1.61 1.33 2.70 0.74 1.10 1.75

 Other loans to individuals 1.52 1.40 0.96 0.94 1.07 0.31 2.33 1.56 1.23 1.76

All other loans and leases (including farm) 0.25 0.83 0.36 1.04 0.23 0.06 0.05 0.61 0.59 0.15

Total loans and leases 0.57 1.55 0.52 0.73 0.44 0.36 1.50 0.82 0.86 0.61

Percent of Loans Noncurrent**

All real estate loans 1.08 0.99 1.02 0.51 0.87 0.51 0.29 0.70 0.55 1.94

 Construction and development 0.60 0.49 1.33 0.39 0.54 0.55 0.34 0.38 0.33 0.76

 Nonfarm nonresidential 1.24 2.21 2.03 0.51 0.80 0.56 0.31 0.70 0.65 3.68

 Multifamily residential real estate 0.38 0.63 0.20 0.64 0.43 0.08 0.00 0.57 0.08 0.38

 Home equity loans 1.73 0.00 5.66 0.26 1.11 0.40 3.94 0.65 0.34 2.55

 Other 1-4 family residential 1.17 0.90 0.88 0.46 1.22 0.53 0.23 0.80 0.58 1.51

Commercial and industrial loans 0.83 0.78 0.75 0.93 0.97 0.43 0.44 1.09 0.84 0.68

Loans to individuals 1.16 1.87 1.11 0.41 0.61 0.14 0.78 0.49 0.51 1.23

 Credit card loans 1.80 2.00 1.37 0.49 1.70 1.20 4.15 0.14 0.43 2.02

 Other loans to individuals 0.48 0.57 0.23 0.40 0.50 0.11 0.73 0.51 0.51 0.40

All other loans and leases (including farm) 0.22 0.67 0.18 0.45 0.27 0.02 0.01 0.61 1.39 0.21

Total loans and leases 0.91 1.74 0.76 0.54 0.82 0.47 0.59 0.73 0.61 1.14

Percent of Loans Charged-Off (net, YTD)

All real estate loans 0.09 0.20 0.07 -0.01 0.07 0.00 0.01 -0.03 0.00 0.18

 Construction and development 0.04 0.00 0.00 0.00 0.04 0.00 0.00 -0.12 0.01 0.09

 Nonfarm nonresidential 0.27 0.00 0.39 -0.01 0.17 0.00 0.00 -0.01 -0.03 0.87

 Multifamily residential real estate 0.05 0.00 0.13 0.01 0.04 0.00 0.00 0.00 0.00 0.02

 Home equity loans -0.04 0.00 -0.18 0.00 0.01 -0.04 0.32 -0.02 0.01 -0.15

 Other 1-4 family residential 0.00 0.22 0.01 0.00 0.00 0.00 0.01 -0.02 0.01 0.00

Commercial and industrial loans 0.40 2.73 0.42 0.16 0.40 0.02 0.33 0.30 0.10 0.28

Loans to individuals 3.03 5.10 3.11 0.52 1.65 0.42 1.71 2.46 0.48 3.02

 Credit card loans 4.70 5.27 3.76 2.70 5.81 3.69 10.90 1.35 0.66 4.90

 Other loans to individuals 1.23 3.31 0.81 0.28 1.24 0.33 1.56 2.51 0.48 1.04

All other loans and leases (including farm) 0.10 1.72 0.08 0.01 0.11 0.08 0.02 0.63 0.23 0.11

Total loans and leases 0.65 4.76 0.77 0.03 0.25 0.03 1.06 0.26 0.06 0.78

Loans Outstanding (in billions)

All real estate loans $5,944.7 $7.4 $695.6 $124.7 $3,591.3 $193.0 $63.5 $10.4 $39.4 $1,219.3

 Construction and development 498.5 0.1 23.6 9.3 397.5 5.1 0.7 1.1 2.8 58.3

 Nonfarm nonresidential 1,826.1 0.6 71.5 32.6 1,430.1 14.4 9.1 3.6 8.5 255.8

 Multifamily residential real estate 620.2 0.0 114.5 5.1 420.2 5.4 1.1 0.3 1.2 72.3

 Home equity loans 270.3 0.0 19.3 2.1 177.2 9.3 0.9 0.3 1.2 60.0

 Other 1-4 family residential 2,566.2 6.6 432.7 29.3 1,103.3 158.2 51.6 4.3 22.1 758.1

Commercial and industrial loans 2,488.7 45.2 364.1 23.1 1,230.5 6.3 40.9 1.8 4.3 772.4

Loans to individuals 2,085.6 372.2 436.2 6.4 360.3 14.8 172.9 1.2 4.4 717.3

 Credit card loans 1,081.1 338.8 338.9 0.6 31.6 0.4 2.7 0.1 0.0 368.0

 Other loans to individuals 1,004.5 33.3 97.3 5.8 328.7 14.4 170.2 1.1 4.3 349.3

All other loans and leases (including farm) 1,900.3 1.8 588.8 38.3 502.3 7.6 15.6 0.7 2.6 742.7

Total loans and leases (plus unearned income) 12,419.3 426.6 2,084.8 192.5 5,684.4 221.8 292.9 14.1 50.7 3,451.6

Memo: Other Real Estate Owned 

(in millions)

All other real estate owned 2,979.2 1.3 278.0 67.8 1,887.4 44.7 15.6 16.5 22.8 645.2

 Construction and development 427.0 0.0 8.0 9.9 358.9 11.9 0.9 4.2 7.8 25.3

 Nonfarm nonresidential 1,639.6 0.9 149.0 29.5 1,027.1 12.8 0.4 8.0 6.6 405.3

 Multifamily residential real estate 105.7 0.0 0.0 1.0 99.7 0.2 0.0 0.0 0.5 4.3

 1-4 family residential 741.6 0.4 117.0 10.2 358.2 19.8 14.3 4.1 7.5 210.2

 Farmland 60.6 0.0 0.0 17.2 42.8 0.0 0.0 0.1 0.4 0.0

* See Table IV-A for explanations.

** Noncurrent loan rates represent the percentage of loans in each category that are past due 90 days or more or that are in nonaccrual status.
QUARTERLY 2024 VOLUME 18, NUMBER 2

13 

TABLE V-A. Loan Performance, All FDIC-Insured Institutions

March 31, 2024 All Insured

Institutions

Asset Size Distribution Geographic Regions*

Less Than

$100 

Million

$100 

Million to

$1 Billion

$1 Billion

to

$10 Billion

$10 Billion

to $250 

Billion

Greater

Than $250

Billion New York Atlanta Chicago

Kansas

City Dallas

San

Francisco

Percent of Loans 30-89 Days 

Past Due 

All loans secured by real estate 0.44 1.10 0.53 0.31 0.52 0.42 0.45 0.45 0.35 0.46 0.69 0.29

 Construction and development 0.38 1.26 0.60 0.34 0.37 0.32 0.53 0.21 0.33 0.44 0.40 0.30

 Nonfarm nonresidential 0.26 0.94 0.42 0.20 0.22 0.32 0.28 0.28 0.26 0.25 0.26 0.23

 Multifamily residential real estate 0.21 0.44 0.19 0.21 0.28 0.12 0.37 0.07 0.19 0.18 0.14 0.06

 Home equity loans 0.56 0.51 0.52 0.46 0.63 0.54 0.56 0.49 0.61 0.63 0.62 0.45

 Other 1-4 family residential 0.64 1.40 0.66 0.45 0.91 0.51 0.60 0.67 0.41 0.62 1.51 0.42

Commercial and industrial loans 0.30 1.06 0.74 0.51 0.28 0.25 0.20 0.22 0.37 0.28 0.41 0.54

Loans to individuals 1.53 1.43 1.13 1.77 1.48 1.57 1.39 2.06 0.96 1.43 0.90 1.85

 Credit card loans 1.55 3.46 1.89 3.30 1.59 1.49 1.84 1.90 1.10 1.37 0.64 1.66

 Other loans to individuals 1.52 1.42 1.11 1.42 1.38 1.68 1.01 2.24 0.82 1.58 0.98 2.04

All other loans and leases (including farm) 0.25 0.72 0.70 0.61 0.17 0.25 0.28 0.16 0.40 0.17 0.23 0.15

Total loans and leases 0.57 1.07 0.59 0.43 0.62 0.57 0.53 0.65 0.45 0.51 0.63 0.77

Percent of Loans Noncurrent** 

All real estate loans 1.08 0.86 0.54 0.56 1.04 1.59 1.15 1.17 0.98 1.40 1.03 0.60

 Construction and development 0.60 0.62 0.54 0.65 0.43 0.90 0.98 0.46 0.82 0.31 0.37 0.71

 Nonfarm nonresidential 1.24 1.11 0.61 0.51 1.01 3.07 1.49 1.64 1.02 2.11 0.57 0.61

 Multifamily residential real estate 0.38 0.93 0.25 0.42 0.46 0.27 0.62 0.29 0.22 0.48 0.35 0.18

 Home equity loans 1.73 0.79 0.61 0.49 1.13 2.91 1.55 1.25 2.20 3.72 0.78 0.66

 Other 1-4 family residential 1.17 0.87 0.50 0.62 1.42 1.29 1.05 1.01 1.07 1.35 2.13 0.69

Commercial and industrial loans 0.83 1.35 0.96 1.16 1.00 0.66 1.25 0.69 0.89 0.46 0.90 0.95

Loans to individuals 1.16 0.88 0.42 1.15 1.15 1.19 1.27 1.34 0.75 1.26 0.66 1.31

 Credit card loans 1.80 2.26 1.11 3.95 1.90 1.70 2.15 2.16 1.22 1.60 1.27 1.96

 Other loans to individuals 0.48 0.87 0.41 0.51 0.51 0.44 0.51 0.50 0.26 0.42 0.47 0.65

All other loans and leases (including farm) 0.22 0.63 0.53 0.61 0.17 0.21 0.34 0.10 0.30 0.14 0.37 0.15

Total loans and leases 0.91 0.89 0.58 0.68 0.96 0.99 1.06 0.91 0.80 0.94 0.94 0.82

Percent of Loans Charged-Off

(net, YTD) 

All real estate loans 0.09 -0.01 0.02 0.02 0.08 0.16 0.12 0.18 0.04 0.11 0.03 0.04

 Construction and development 0.04 0.00 -0.02 0.01 0.06 0.07 0.14 0.02 0.04 0.05 0.00 -0.01

 Nonfarm nonresidential 0.27 -0.04 0.05 0.04 0.20 0.84 0.31 0.56 0.15 0.36 0.07 0.08

 Multifamily residential real estate 0.05 0.00 0.01 0.03 0.03 0.10 0.05 0.01 0.02 0.27 0.01 0.00

 Home equity loans -0.04 0.00 0.02 0.00 0.00 -0.10 0.02 -0.09 -0.07 -0.11 -0.01 0.02

 Other 1-4 family residential 0.00 0.01 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.01

Commercial and industrial loans 0.40 0.28 0.27 0.38 0.52 0.34 0.29 0.36 0.44 0.25 0.39 0.96

Loans to individuals 3.03 0.47 0.94 3.25 3.05 3.06 3.39 3.19 2.04 3.63 1.44 3.40

 Credit card loans 4.70 15.08 7.05 10.29 5.03 4.38 5.86 5.00 3.37 4.51 2.69 5.10

 Other loans to individuals 1.23 0.37 0.80 1.61 1.33 1.09 1.23 1.31 0.66 1.41 1.06 1.67

All other loans and leases (including farm) 0.10 -0.02 0.09 0.14 0.09 0.10 0.08 0.12 0.08 0.10 0.25 0.06

Total loans and leases 0.65 0.06 0.09 0.26 0.75 0.77 0.67 0.80 0.42 0.67 0.21 1.18

Loans Outstanding (in billions) 

All real estate loans $5,944.7 $16.7 $554.0 $1,253.7 $2,085.4 $2,034.9 $1,280.2 $1,014.3 $1,341.7 $920.6 $758.0 $629.9

 Construction and development 498.5 1.1 55.5 139.8 203.8 98.4 90.5 77.0 87.9 72.4 122.8 47.9

 Nonfarm nonresidential 1,826.1 3.6 200.2 525.3 726.5 370.6 407.6 338.7 302.5 227.4 303.4 246.6

 Multifamily residential real estate 620.2 0.5 33.4 139.1 252.9 194.3 195.8 56.6 179.9 64.1 42.4 81.4

 Home equity loans 270.3 0.3 16.7 42.2 100.6 110.5 74.3 57.7 67.7 26.7 22.3 21.6

 Other 1-4 family residential 2,566.2 8.0 195.8 365.8 784.3 1,212.2 506.3 469.0 676.4 448.8 242.8 222.8

Commercial and industrial loans 2,488.7 2.9 82.5 255.2 807.6 1,340.5 418.5 636.2 600.2 433.1 197.4 203.4

Loans to individuals 2,085.6 1.6 27.1 94.3 807.9 1,154.8 389.0 478.3 417.3 311.1 83.0 406.9

 Credit card loans 1,081.1 0.0 0.6 17.6 373.1 689.9 180.4 242.1 213.0 222.2 19.3 204.2

 Other loans to individuals 1,004.5 1.6 26.5 76.7 434.8 464.9 208.7 236.2 204.3 88.9 63.7 202.7

All other loans and leases (including farm) 1,900.3 3.1 40.5 73.9 471.8 1,311.0 365.6 394.2 534.6 404.1 67.6 134.1

Total loans and leases (plus unearned income) 12,419.3 24.3 704.1 1,677.0 4,172.7 5,841.2 2,453.4 2,522.9 2,893.8 2,068.8 1,106.0 1,374.3

Memo: Other Real Estate Owned 

(in millions) 

All other real estate owned 2,979.2 20.1 403.3 750.3 807.5 998.0 419.5 628.2 518.9 566.9 597.2 248.4

 Construction and development 427.0 2.8 120.2 184.3 94.1 25.7 52.1 40.7 26.9 101.0 184.6 21.8

 Nonfarm nonresidential 1,639.6 9.3 160.9 386.6 397.5 685.2 148.6 442.4 277.8 364.9 295.1 110.7

 Multifamily residential real estate 105.7 0.1 13.3 66.1 21.3 5.0 19.6 0.1 6.7 41.3 18.6 19.4

 1-4 family residential 741.6 7.7 82.1 92.8 280.9 278.1 199.2 140.6 203.8 44.1 72.7 81.1

 Farmland 60.6 0.1 26.9 19.9 13.7 0.0 0.0 4.4 3.0 11.7 26.2 15.3

* See Table IV-A for explanations.

** Noncurrent loan rates represent the percentage of loans in each category that are past due 90 days or more or that are in nonaccrual status.
QUARTERLY 2024 VOLUME 18, NUMBER 2

14 

TABLE VI-A. Derivatives, All FDIC-Insured Call Report Filers

(dollar figures in millions;

notional amounts unless otherwise indicated)

1st 

Quarter

2024

4th 

Quarter

2023

3rd

 Quarter

2023

2nd 

Quarter

2023

1st 

Quarter

2023

%

Change

23Q1-

24Q1

Asset Size Distribution

Less 

Than

$100 

Million

$100 

Million

to $1 

Billion

$1 

Billion

to $10 

Billion

$10 

Billion

to $250 

Billion

Greater 

Than

$250 

Billion

ALL DERIVATIVE HOLDERS 

Number of institutions reporting derivatives 1,208 1,186 1,186 1,188 1,178 2.5 8 501 551 134 14

Total assets of institutions reporting derivatives $22,048,279 $21,695,815 $21,461,563 $21,521,061 $21,778,563 1.2 $517 $258,909 $1,738,557 $6,155,928 $13,894,368

Total deposits of institutions reporting derivatives 17,425,329 17,192,938 16,948,295 17,039,308 17,123,919 1.8 380 216,519 1,426,656 4,988,082 10,793,692

Total derivatives 209,327,828 194,773,171 207,341,064 224,647,411 220,468,213 -5.1 172 12,869 232,732 4,166,560 204,915,495

Derivative Contracts by Underlying 

Risk Exposure 

Interest rate 144,461,972 136,304,835 145,818,122 164,098,913 160,283,149 -9.9 172 12,667 225,010 2,206,658 142,017,464

Foreign exchange* 53,056,308 47,555,596 50,002,364 49,082,890 48,529,245 9.3 0 0 3,030 1,676,964 51,376,314

Equity 6,252,639 5,673,759 5,875,155 5,471,018 5,001,131 25.0 0 34 91 66,051 6,186,462

Commodity & other (excluding credit derivatives) 1,557,382 1,492,562 1,529,544 1,519,658 1,574,689 -1.1 0 0 124 119,761 1,437,496

Credit 3,998,851 3,745,656 4,114,991 4,474,144 5,079,273 -21.3 0 16 3,951 97,125 3,897,759

Total 209,327,151 194,772,408 207,340,177 224,646,623 220,467,487 -5.1 172 12,717 232,207 4,166,560 204,915,495

Derivative Contracts by Transaction Type 

Swaps 124,892,705 117,303,421 124,696,693 143,242,706 137,729,743 -9.3 0 1,734 162,557 2,584,624 122,143,790

Futures & forwards 36,821,598 31,806,329 34,215,361 33,316,618 34,501,963 6.7 0 1,096 8,206 999,107 35,813,188

Purchased options 20,186,260 19,595,099 20,220,077 20,127,902 20,067,871 0.6 0 841 21,255 206,579 19,957,585

Written options 20,192,038 20,012,756 20,929,560 20,751,678 20,222,587 -0.2 0 1,158 9,330 176,978 20,004,572

Total 202,092,600 188,717,606 200,061,690 217,438,904 212,522,163 -4.9 0 4,829 201,348 3,967,287 197,919,135

Fair Value of Derivative Contracts 

Interest rate contracts 63,247 56,308 72,427 54,260 64,099 -1.3 0 61 1,732 -250 61,704

Foreign exchange contracts 11,737 -14,861 17,473 9,781 2,917 302.4 0 0 1 221 11,516

Equity contracts -18,264 -9,259 -2,176 -7,184 -5,957 N/M 0 4 1 -394 -17,875

Commodity & other (excluding credit derivatives) 1,531 620 4,374 1,819 2,790 -45.1 0 0 1 170 1,359

Credit derivatives as guarantor** 23,067 21,218 11,961 15,417 12,909 78.7 0 0 11 39 23,017

Credit derivatives as beneficiary** -26,934 -27,003 -10,044 -17,352 -14,434 N/M 0 0 -4 -877 -26,053

Derivative Contracts by Maturity*** 

 Interest rate contracts < 1 year 96,126,860 87,577,813 97,313,202 112,943,731 109,261,325 -12.0 0 905 21,718 1,021,225 95,083,012

 1-5 years 29,096,679 29,659,065 29,223,353 29,392,259 30,208,347 -3.7 0 1,434 94,741 725,910 28,274,593

 > 5 years 22,388,518 21,811,911 21,228,573 21,500,365 21,259,200 5.3 0 536 61,417 319,369 22,007,195

 Foreign exchange and gold contracts < 1 year 39,005,225 34,341,088 36,129,454 35,713,450 34,845,359 11.9 0 0 1,900 1,515,939 37,487,386

 1-5 years 6,726,699 6,861,582 6,295,512 5,264,822 6,287,007 7.0 0 0 197 101,008 6,625,494

 > 5 years 3,485,706 3,501,034 3,277,686 3,320,695 3,271,833 6.5 0 0 3 6,418 3,479,285

 Equity contracts < 1 year 6,047,242 5,469,120 5,522,090 5,331,649 4,990,234 21.2 0 10 27 26,920 6,020,286

 1-5 years 1,401,254 1,304,408 1,435,442 1,142,298 1,150,946 21.7 0 24 12 33,984 1,367,233

 > 5 years 110,710 98,619 109,540 132,964 106,507 3.9 0 0 0 1,034 109,677

 Commodity & other contracts (including 

 credit derivatives, excluding 

 gold contracts) < 1 year 2,953,326 2,680,052 2,842,842 2,903,697 3,102,480 -4.8 0 0 213 43,855 2,909,257

 1-5 years 2,503,943 2,517,059 2,637,051 3,037,564 3,290,726 -23.9 0 10 1,726 62,777 2,439,429

 > 5 years 426,269 238,812 437,927 270,488 487,503 -12.6 0 4 1,798 10,718 413,749

Risk-Based Capital: Credit Equivalent Amount 

Total current exposure to tier 1 capital (%) 13.0 12.6 16.1 14.4 13.0 0.0 0.3 2.3 3.8 19.6

Total potential future exposure to tier 1 capital (%) 32.4 31.7 30.5 31.6 32.0 0.0 0.1 0.9 5.3 52.0

Total exposure (credit equivalent amount)

to tier 1 capital (%) 45.4 44.3 46.5 46.0 45.1 0.0 0.4 3.2 9.1 71.6

Credit losses on derivatives  -3.5 -24.7 -21.1 -13.4 -12.5 72.0 0.0 1.3 1.3 -1.1 -5.0

HELD FOR TRADING

Number of institutions reporting derivatives 156 151 156 153 157 -0.6 0 11 76 57 12

Total assets of institutions reporting derivatives 16,700,419 16,414,758 16,244,344 16,283,177 16,514,247 1.1 0 5,672 361,811 3,095,132 13,237,804

Total deposits of institutions reporting derivatives 13,068,372 12,897,566 12,708,722 12,811,834 12,892,291 1.4 0 4,760 298,796 2,507,741 10,257,075

Derivative Contracts by Underlying 

Risk Exposure 

Interest rate 139,469,229 131,458,549 140,720,039 157,949,351 155,617,474 -10.4 0 244 40,214 884,896 138,543,875

Foreign exchange 49,298,883 44,703,325 46,289,689 45,798,113 45,122,919 9.3 0 0 2,842 1,532,959 47,763,082

Equity 6,180,309 5,613,118 5,817,413 5,417,476 4,948,378 24.9 0 0 60 48,360 6,131,889

Commodity & other 1,491,661 1,427,211 1,482,346 1,476,394 1,532,080 -2.6 0 0 25 88,305 1,403,331

Total 196,440,083 183,202,204 194,309,487 210,641,333 207,220,851 -5.2 0 244 43,142 2,554,520 193,842,177

Trading Revenues: Cash & Derivative 

Instruments 

Interest rate**  1,822 6,018 641 3,479 5,728 -68.2 0 0 7 30 1,786

Foreign exchange** 7,550 2,332 8,037 5,173 4,438 70.1 0 0 2 249 7,300

Equity** 4,812 3,602 2,262 3,995 5,335 -9.8 0 0 9 472 4,331

Commodity & other (including credit derivatives)** 1,446 -305 2,286 1,027 2,086 -30.7 0 0 0 61 1,385

Total trading revenues** 15,631 11,647 13,227 13,674 17,586 -11.1 0 0 17 812 14,801

Share of Revenue

Trading revenues to gross revenues (%)** 5.9 4.6 5.2 5.6 7.6 0.0 0.0 0.3 1.7 7.0

Trading revenues to net operating revenues (%)** 34.6 53.9 25.7 27.0 33.5 0.0 0.0 1.7 11.1 40.3

HELD FOR PURPOSES OTHER THAN TRADING 

Number of institutions reporting derivatives 543 550 548 547 547 -0.7 0 99 303 127 14

Total assets of institutions reporting derivatives 21,208,502 20,914,264 20,678,513 20,734,103 20,874,534 1.6 0 53,316 1,248,348 6,012,470 13,894,368

Total deposits of institutions reporting derivatives 16,729,185 16,546,895 16,294,514 16,387,383 16,457,598 1.7 0 44,325 1,022,662 4,868,506 10,793,692

Derivative Contracts by Underlying Risk 

Exposure 

Interest rate 4,957,809 4,815,185 5,069,794 6,123,182 4,642,802 6.8 0 4,551 157,907 1,321,762 3,473,589

Foreign exchange 556,658 574,225 577,469 577,582 563,149 -1.2 0 0 169 41,858 514,631

Equity 72,329 60,641 57,742 53,542 52,752 37.1 0 34 31 17,691 54,574

Commodity & other 65,720 65,351 47,198 43,264 42,609 54.2 0 0 99 31,457 34,165

Total notional amount 5,652,517 5,515,402 5,752,203 6,797,570 5,301,313 6.6 0 4,585 158,207 1,412,768 4,076,958

All line items are reported on a quarterly basis. 

* Includes spot foreign exchange contracts. All other references to foreign exchange contracts in which notional values or fair values are reported exclude spot foreign exchange contracts.

** Does not include banks filing the FFIEC 051 report form, which was introduced in first quarter 2017.

*** Derivative contracts subject to the risk-based capital requirements for derivatives.

**** Credit losses on derivatives is applicable to all banks filing the FFIEC 031 report form and banks filing the FFIEC 041 report form that have $300 million or more in total assets, 

but is not applicable to banks filing the FFIEC 051 form. N/M - Not Meaningful 
QUARTERLY 2024 VOLUME 18, NUMBER 2

15 

TABLE VII-A. Servicing, Securitization, and Asset Sales Activities (All FDIC-Insured Call Report Filers)*

(dollar figures in millions)

1st 

Quarter

2024

4th 

Quarter

2023

3rd

Quarter

2023

2nd 

Quarter

2023

1st 

Quarter

2023

%

Change

23Q1-

24Q1

Asset Size Distribution

Less 

Than

$100 

Million

$100 

Million

to $1 

Billion

$1 

Billion

to $10 

Billion

$10 

Billion to

$250 

Billion

Greater 

Than

$250 

Billion

Assets Sold and Securitized with Servicing Retained or with 

Recourse or Other Seller-Provided Credit Enhancements 

Number of institutions reporting securitization activities 65 64 62 61 62 4.8 0 4 11 39 11

Outstanding Principal Balance by Asset Type** 

 1-4 family residential loans 304,316 299,981 303,098 251,654 254,891 19.4 0 2,137 15,872 61,650 224,656

 Home equity loans 3 4 4 4 4 -25.0 0 0 0 3 0

 Credit card receivables 111 125 131 130 118 -5.9 0 0 0 111 0

 Auto loans 5,518 3,649 2,110 1,336 1,237 346.1 0 0 0 3,706 1,812

 Other consumer loans 7,658 12,792 1,370 1,545 1,654 363.0 0 0 0 526 7,133

 Commercial and industrial loans 4,129 5,837 5,157 5,481 5,499 -24.9 0 0 0 0 4,129

 All other loans, leases, and other assets 115,861 111,937 112,796 111,473 109,531 5.8 0 0 4,378 13,760 97,724

Total securitized and sold 437,596 434,325 424,666 371,623 372,936 17.3 0 2,137 20,250 79,755 335,454

Maximum Credit Exposure by Asset Type** 

 1-4 family residential loans 590 571 866 874 648 -9.0 0 0 0 349 241

 Home equity loans 0 0 0 0 0 0.0 0 0 0 0 0

 Credit card receivables 0 0 0 0 0 0.0 0 0 0 0 0

 Auto loans 210 112 45 12 12 1,650.0 0 0 0 133 77 Other consumer loans 0 0 0 0 0 0.0 0 0 0 0 0

 Commercial and industrial loans 193 276 259 210 207 -6.8 0 0 0 0 193

 All other loans, leases, and other assets 1,763 1,737 2,790 2,767 2,783 -36.7 0 0 36 406 1,321

Total credit exposure 2,756 2,696 3,960 3,863 3,649 -24.5 0 0 36 888 1,832

Total unused liquidity commitments provided to 

institution’s own securitizations 164 211 199 229 251 -34.7 0 0 0 0 164

Securitized Loans, Leases, and Other Assets 30-89 Days 

Past Due (%)** 

 1-4 family residential loans 3.4 3.9 3.5 2.7 2.3 0.0 0.7 2.1 3.5 3.5

 Home equity loans 3.8 4.4 6.1 6.3 7.1 0.0 0.0 0.0 3.8 0.0

 Credit card receivables 6.3 7.2 6.9 6.2 5.1 0.0 0.0 0.0 6.3 0.0

 Auto loans 3.1 4.4 4.4 4.5 2.1 0.0 0.0 0.0 4.4 0.6

 Other consumer loans 0.4 1.0 2.5 2.2 2.1 0.0 0.0 0.0 1.9 0.3

 Commercial and industrial loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

 All other loans, leases, and other assets 0.4 0.9 0.8 0.5 0.6 0.0 0.0 0.3 1.9 0.2

Total loans, leases, and other assets 2.1 2.5 2.3 1.6 1.4 0.0 0.0 0.0 1.2 2.4

Securitized Loans, Leases, and Other Assets 

90 Days or More Past Due (%)** 

 1-4 family residential loans 1.2 1.3 1.2 0.8 0.8 0.0 0.4 1.2 2.1 0.9

 Home equity loans 24.0 27.4 25.5 27.0 28.6 0.0 0.0 0.0 24.0 0.0

 Credit card receivables 9.9 10.4 8.4 6.2 6.8 0.0 0.0 0.0 9.9 0.0

 Auto loans 0.3 0.5 0.3 0.3 0.2 0.0 0.0 0.0 0.5 0.1

 Other consumer loans 0.3 0.3 1.7 1.5 1.7 0.0 0.0 0.0 1.6 0.2

 Commercial and industrial loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

 All other loans, leases, and other assets 1.1 1.0 0.9 0.9 0.6 0.0 0.0 0.5 0.7 1.2

Total loans, leases, and other assets 1.1 1.2 1.1 0.8 0.7 0.0 0.4 1.0 1.8 1.0

Securitized Loans, Leases, and Other Assets 

Charged-Off (net, YTD, annualized, %)** 

 1-4 family residential loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

 Home equity loans -2.6 2.9 2.9 1.2 0.1 0.0 0.0 0.0 -2.6 0.0

 Credit card receivables 10.8 24.8 16.0 10.0 4.2 0.0 0.0 0.0 10.8 0.0

 Auto loans 0.4 0.9 0.8 0.4 0.2 0.0 0.0 0.0 0.5 0.1

 Other consumer loans 0.0 0.2 1.2 0.8 0.4 0.0 0.0 0.0 0.3 0.0

 Commercial and industrial loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

 All other loans, leases, and other assets 0.1 0.3 0.2 0.1 0.1 0.0 0.0 0.1 0.5 0.0

Total loans, leases, and other assets 0.0 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.1 0.0

Seller’s Interests in Institution’s Own Securitizations 

- Carried as Securities or Loans***

 Home equity loans 0 0 0 0 0 0.0 0 0 0 0 0

 Credit card receivables 0 0 0 0 0 0.0 0 0 0 0 0

 Commercial and industrial loans 0 0 0 0 0 0.0 0 0 0 0 0

Assets Sold with Recourse and Not Securitized 

Number of institutions reporting asset sales 310 309 310 307 307 1.0 4 88 143 65 10

Outstanding Principal Balance by Asset Type 

 1-4 family residential loans 23,194 23,274 24,385 20,352 20,297 14.3 29 2,238 9,419 10,480 1,028

 All other loans, leases, and other assets 152,412 149,036 149,386 146,945 144,741 5.3 0 39 2,141 46,477 103,755

Total sold and not securitized 175,605 172,310 173,770 167,297 165,038 6.4 29 2,277 11,560 56,957 104,782

Maximum Credit Exposure by Asset Type 

 1-4 family residential loans 6,198 6,045 6,646 6,487 6,349 -2.4 1 275 2,900 2,371 651

 All other loans, leases, and other assets 45,089 44,351 44,053 43,182 41,996 7.4 0 38 620 14,510 29,921

Total credit exposure 51,287 50,396 50,699 49,669 48,344 6.1 1 313 3,520 16,880 30,572

Support for Securitization Facilities Sponsored by 

Other Institutions 

Number of institutions reporting securitization facilities 

sponsored by others 33 34 34 33 34 -2.9 0 11 11 4 7

Total credit exposure 11,807 11,786 18,578 20,303 21,042 -43.9 0 36 108 575 11,088

Total unused liquidity commitments 1,532 1,915 2,415 2,722 3,049 -49.8 0 0 0 0 1,532

Other

Assets serviced for others  6,154,353 6,213,935 6,453,146 6,238,588 6,226,181 -1.2 2,773 214,141 407,506 1,493,207 4,036,727

Asset-backed commercial paper conduits 

 Credit exposure to conduits sponsored by institutions 

 and others 4,940 5,127 5,071 4,920 4,090 20.8 0 0 0 0 4,940

 Unused liquidity commitments to conduits 

 sponsored by institutions and others 68,389 68,403 68,303 69,682 59,759 14.4 0 0 0 0 68,389

Net servicing income (for the quarter) 2,538 770 3,164 2,391 1,755 44.6 6 107 469 839 1,118

Net securitization income (for the quarter) 20 54 57 30 29 -31.0 0 0 16 -30 33

Total credit exposure to Tier 1 capital (%)** *** 3.1 3.0 3.4 3.5 3.5 0.0 0.3 1.4 2.9 3.8

* Does not include banks filing the FFIEC 051 report form, which was introduced in first quarter 2017. 

** Beginning in June 2018, for banks that file the FFIEC 041 report form, all other loans include home equity loans, credit card receivables, auto loans, other consumer loans, and 

commercial and industrial loans.

*** Beginning in June 2018, only includes banks that file the FFIEC 031 report form.

  The amount of financial assets serviced for others, other than closed-end 1-4 family residential mortgages, is reported when these assets are greater than $10 million.

** *** Total credit exposure includes the sum of the three line items titled “Total credit exposure” reported above. 
PAGE INTENTIONALLY LEFT BLANK
QUARTERLY 2024 VOLUME 18, NUMBER 2

17 

COMMUNITY BANK PERFORMANCE

Community banks are identified by criteria defined in the 2012 FDIC Community Banking Study. When comparing 

community bank performance across quarters, previous-quarter dollar amounts are based on community banks 

designated as such in the current quarter, adjusted for mergers. In contrast, previous-quarter ratios are based on 

community banks designated during the previous quarter.

Net Income Increased From a Quarter Earlier but Decreased From One Year Earlier

The Net Interest Margin Declined From the Previous Quarter

Unrealized Losses on Securities Increased From the Previous Quarter

Loan Growth Was Broad-Based Across Loan Categories

Total Deposits Increased Quarter Over Quarter

Asset Quality Metrics Remained Favorable Overall

QUARTERLY NET INCOME INCREASED 

FROM THE PREVIOUS QUARTER BUT 

DECREASED FROM ONE YEAR EARLIER

Net income for the 4,128 community banks increased $363.2 million (6.1 

percent) in first quarter 2024 from the previous quarter to $6.3 billion. 

Community banks booked a securities gain of $47.3 million, up from a 

loss of $322.3 million in the previous quarter. In addition, a decrease in 

noninterest expense ($290.8 million, or 1.7 percent), and a decrease in 

provision expense ($312.6 million, or 28.9 percent) more than exceeded the 

decrease in noninterest income ($78.0 million, or 1.6 percent) and lower 

net interest income ($440.5 million, or 2.1 percent). Half (49.9 percent) of all 

community banks reported a quarter-over-quarter decline in net income.

The pretax return on assets ratio at community banks increased 6 basis 

points from one quarter earlier, but was down 14 basis points from one 

year earlier to 1.13 percent. The share of community banks that were 

unprofitable during the quarter was 7.2 percent, down from 11.0 percent 

in the previous quarter. Net income declined $1.0 billion (13.9 percent) 

from first quarter 2023, driven primarily by higher noninterest expense 

and lower net interest income.

Chart 1

Contributors to the Year-Over-Year Change in Income

FDIC-Insured Community Banks

$ Billions

Source: FDIC.

Net

Income

Net

Interest

Income

Loan Loss

Provisions

Noninterest

Income

Noninterest

Expense

Realized

Gains on

Securities

Income

Taxes

Positive Factor Negative Factor

-1.5

-1.0

-0.5

0.0

0.5

1.0

-3% 14% 8% 5% 141% -10%

-1.01 -0.72 0.10 0.35 0.85 0.16 -0.15

-14%

Chart 2

Source: FDIC.

Percent

Net Interest Margin

Industry (3.17)

Community Banks (3.23)

2.25

2.50

2.75

3.00

3.25

3.50

3.75

4.00

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
QUARTERLY 2024 VOLUME 18, NUMBER 2

18 

THE NET INTEREST MARGIN 

DECLINED FROM THE PREVIOUS 

QUARTER

The community bank net interest margin (NIM) declined from the 

previous quarter to 3.23 percent. The NIM was down 26 basis points from 

the year-earlier quarter because the cost of funds increased 92 basis points 

while the yield on earning assets increased 66 basis points.

NET OPERATING REVENUE 

DECREASED IN THE FIRST QUARTER 

DUE TO LOWER NET INTEREST 

INCOME

Community bank net operating revenue (net interest income plus 

noninterest income) decreased $518.5 million (2.0 percent) quarter over 

quarter as net interest income and noninterest income declined from 

the previous quarter. Interest expense increased in the first quarter—

mainly from higher interest expense on deposits—by a greater amount 

than interest income, causing a $440.5 million (2.1 percent) decrease 

in net interest income. Noninterest income declined $78.0 million (1.6 

percent) from the previous quarter, predominantly due to lower service 

charges on deposit accounts, insurance commissions and fees, and “all 

other” noninterest income.1

Net operating revenue declined $371.4 million (1.4 percent) year over 

year, as a $348.3 million increase in noninterest income was more than 

offset by a $719.7 million decrease in net interest income. Although 

interest income rose across all loan types, net interest income declined 

due to higher interest expense. Higher net gains on sales of other assets 

drove the annual increase in noninterest income.

1 All other noninterest income includes material write-in items as well as income related to wire transfers and ATM fees, bank card and credit card interchange fees, safe 

deposit box rent, printing and sale of checks, earnings on/increase in value of cash surrender value of life insurance, and other noninterest sources.

Chart 4

Source: FDIC.

Share of Loan Portfolio Noncurrent

Percent

Noncurrent Loan Rates for FDIC-Insured Community Banks

C&D Loans

Nonfarm Nonresidential RE

1–4 Family RE

C&I Loans

Farm Loans

Home Equity

0

2

4

6

8

10

12

14 #

#

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Chart 3

Change in Loan Balances and Unused Commitments 

FDIC-Insured Community Banks

Source: FDIC. Loan Balances

Unused

Commitments

Nonfarm

Nonresidential

RE

Commercial

& Industrial 1–4 FamilyResidential

RE

Construction &

Development FarmLoans Commercial RE& Construction Commercial& Industrial

Change 1Q 2024 vs. 1Q 2023

Change 1Q 2024 vs. 4Q 2023

-15

-10

-5

0

5

10

$ Billions

6.7 #

5.1

8.5

4.9

8.8

-12.2

1.4 1.6 0.9 0.9

-0.2 -0.9

-4.0

0.5
QUARTERLY 2024 VOLUME 18, NUMBER 2

19 

NONINTEREST EXPENSE DECREASED 

QUARTER OVER QUARTER BUT 

INCREASED YEAR OVER YEAR

Noninterest expense decreased $290.8 million (1.7 percent) from a 

quarter earlier, but increased $850.0 million (5.3 percent) from a year 

earlier to $17.0 billion. Lower “all other” noninterest expense and lower 

amortization expense of intangible assets led the quarterly decreases 

in noninterest expense, while higher “all other” noninterest expense 

and salaries and employee benefit expense led the yearly increases in 

noninterest expense.2 The efficiency ratio (noninterest expense as a 

share of net operating revenue) increased 0.5 percentage points from a 

quarter earlier to 66.7 percent, indicating that community banks were 

slightly less efficient at generating revenue.

PROVISION EXPENSE DECREASED 

FROM THE PREVIOUS QUARTER BUT 

INCREASED FROM ONE YEAR EARLIER

Quarterly provision expense of $769.9 million was down $312.6 

million (28.9 percent) from a quarter earlier but up $95.5 million (14.2 

percent) from a year earlier. The reserve coverage ratio (the ratio of 

the allowance for credit losses to noncurrent loans) decreased 18.4 

percentage points from a quarter earlier and 63.0 percentage points 

from a year earlier to 209.6 percent, driven by higher noncurrent loan 

balances.

UNREALIZED LOSSES ON SECURITIES 

INCREASED FROM THE PREVIOUS 

QUARTER3

Unrealized losses on securities totaled $56.0 billion in first quarter 

2024, up $3.1 billion (5.9 percent) from the previous quarter but down 

$1.6 billion (2.8 percent) from the previous year. Unrealized losses 

on held-to-maturity securities ($9.3 billion) and available-for-sale 

securities ($46.7 billion) both increased quarter over quarter. Nearly 

all community banks (96.6 percent) reported unrealized losses on 

securities.

TOTAL ASSETS WERE UP FROM A 

YEAR EARLIER AND A QUARTER 

EARLIER

Total assets at community banks increased $20.8 billion (0.8 percent) 

quarter over quarter and $105.1 billion (4.0 percent) year over year. 

Quarterly growth in total loans and leases was $16.8 billion (0.9 percent) 

in first quarter 2024, down from the $32.5 billion (1.8 percent) increase 

in fourth quarter 2023. Total loans and leases grew $123.1 billion (7.1 

percent) from a year earlier. Securities balances fell $8.7 billion (1.6 

percent) quarter over quarter and fell $38.8 billion (6.8 percent) year 

over year. Cash and balances due from depository institutions increased 

$9.0 billion (5.3 percent) quarter over quarter and $12.8 billion (7.8 

percent) year over year.

2 All other noninterest expense includes material write-in items as well as expense related to data processing, advertising, and marketing; legal fees; and consulting and 

advisory fees.

3 Unrealized losses on securities reflect the difference between the market value as of quarter-end and the book value of non-equity securities. This calculation does not 

account for any unrealized gains or losses in accumulated other comprehensive income because these cannot be derived from Consolidated Reports of Condition and Income.
QUARTERLY 2024 VOLUME 18, NUMBER 2

20 

LOAN GROWTH WAS BROAD-BASED 

ACROSS LOAN CATEGORIES

Loan and lease balances increased from one quarter earlier across all 

major portfolios except construction and development (C&D) loans and 

agricultural production loans. Increases in 1–4 family residential real 

estate loans ($3.9 billion, or 0.9 percent) and nonfarm, nonresidential 

commercial real estate (CRE) loans ($7.9 billion, or 1.4 percent) led the 

quarter-over-quarter loan growth. The majority of community banks 

(62.9 percent) reported quarterly growth in total loan balances.

Loan and lease balances also increased 7.1 percent from the previous 

year. Increases in 1–4 family residential real estate loans ($36.0 billion, 

or 8.5 percent) and nonfarm nonresidential CRE loans ($36.3 billion, or 

6.7 percent) led the year-over-year loan growth.

DOMESTIC DEPOSITS INCREASED 

FROM THE PREVIOUS QUARTER

Community banks reported an increase in domestic deposits of 1.0 

percent ($22.8 billion) during first quarter 2024, down from the 1.2 

percent increase reported in fourth quarter 2023. More than half of 

all community banks (61.9 percent) reported an increase in deposit 

balances from the previous quarter. Community banks reported growth 

in estimated insured deposits ($26.5 billion, or 1.7 percent), but a decline 

in estimated uninsured deposits ($3.4 billion, or 0.5 percent). In the 

first quarter, growth in interest-bearing deposits ($35.6 billion, or 

2.1 percent) was somewhat offset by a decline in noninterest-bearing 

deposits ($12.9 billion, or 2.4 percent). Domestic deposits increased 2.9 

percent ($64.0 billion) from one year earlier.

ASSET QUALITY METRICS REMAINED 

FAVORABLE DESPITE MODEST 

DETERIORATION

The share of loans and leases that were 90 days or more past due or in 

nonaccrual status increased 5 basis points from fourth quarter 2023 

to 0.59 percent. Noncurrent loan balances for all major loan portfolios 

except consumer loans increased from one quarter earlier. The first 

quarter noncurrent rate was 37 basis points below the pre-pandemic 

average.4

The community bank net charge-off rate decreased 7 basis points from 

one quarter earlier but increased 2 basis points from one year earlier to 

0.11 percent. This ratio was 4 basis points lower than the pre-pandemic 

average. Nearly 40 percent of the annual increase in net charge-off 

volume occurred in consumer loans, a relatively small loan portfolio at 

community banks (4.0 percent of total loan balances). The net chargeoff rate for consumer loans increased 40 basis points from one year 

earlier to 1.58 percent.

4 The “pre-pandemic average” refers to the period of first quarter 2015 through fourth quarter 2019 and is used consistently throughout this report.
QUARTERLY 2024 VOLUME 18, NUMBER 2

21 

CAPITAL RATIOS REMAINED STABLE The tier 1 risk-based capital ratio for community banks that did not 

file the community bank leverage ratio (CBLR) was 13.89 percent, up 14 

basis points from the previous quarter, as reductions in risk-weighted 

assets outpaced tier 1 capital declines. The average CBLR for the 1,623 

community banks that elected to use the CBLR framework was 12.07 

percent, down 12 basis points from fourth quarter 2023. The leverage 

capital ratio for community banks was 10.75 percent, up 5 basis points 

from a quarter earlier.

ONE COMMUNITY BANK OPENED IN 

FIRST QUARTER 2024

The number of community banks declined to 4,128 in the first quarter, 

down 17 from the previous quarter. One community bank opened, 

several banks transitioned from community to noncommunity banks 

or vice versa, and 14 merged out of existence during the quarter. No 

community banks failed in the first quarter.

Author:

Joseph R. Harris III

Senior Financial Analyst

Division of Insurance and Research
PAGE INTENTIONALLY LEFT BLANK
QUARTERLY 2024 VOLUME 18, NUMBER 2

23 

Table I-B. Selected Indicators, FDIC-Insured Community Banks

2024* 2023* 2023 2022 2021 2020 2019

Return on assets (%) 0.93 1.04 1.02 1.15 1.26 1.09 1.20

Return on equity (%) 9.49 11.15 10.73 11.97 11.70 9.72 10.24

Core capital (leverage) ratio (%) 10.75 10.55 10.70 10.50 10.16 10.32 11.14

Noncurrent assets plus other real estate owned to assets (%) 0.44 0.34 0.40 0.33 0.40 0.60 0.65

Net charge-offs to loans (%) 0.11 0.09 0.11 0.07 0.07 0.12 0.13

Asset growth rate (%) -0.49 -0.48 0.83 -2.05 8.86 12.15 2.55

Net interest margin (%) 3.23 3.49 3.39 3.45 3.28 3.39 3.66

Net operating income growth (%) -16.14 4.77 -10.16 -4.39 29.70 -2.07 0.13

Number of institutions reporting 4,128 4,232 4,145 4,256 4,386 4,556 4,750

Percentage of unprofitable institutions (%) 7.19 4.51 5.31 3.62 3.26 4.54 3.96

* Through March 31, ratios annualized where appropriate. Asset growth rates are for 12 months ending March 31.
QUARTERLY 2024 VOLUME 18, NUMBER 2

24 

Table II-B. Aggregate Condition and Income Data, FDIC-Insured Community Banks

(dollar figures in millions)

1st Quarter

2024

4th Quarter 

2023

1st Quarter 

2023

% Change

23Q1-24Q1

Number of institutions reporting 4,128 4,145 4,232 -2.5

Total employees (full-time equivalent) 364,968 367,289 373,708 -2.3

CONDITION DATA

Total assets $2,709,686 $2,722,065 $2,722,939 -0.5

 Loans secured by real estate 1,464,952 1,468,297 1,425,339 2.8

 1-4 Family residential mortgages 459,534 458,515 433,014 6.1

 Nonfarm nonresidential 575,471 578,090 570,890 0.8

 Construction and development 154,572 157,475 152,647 1.3

 Home equity lines 46,694 46,569 43,823 6.6

 Commercial & industrial loans 238,369 240,045 237,804 0.2

 Loans to individuals 73,791 75,015 83,325 -11.4

 Credit cards 2,916 3,039 2,723 7.1

 Farm loans 49,811 51,857 43,450 14.6

 Other loans & leases 41,095 41,452 46,373 -11.4

 Less: Unearned income 732 712 695 5.4

 Total loans & leases 1,867,286 1,875,955 1,835,597 1.7

 Less: Reserve for losses* 22,939 22,948 22,603 1.5

 Net loans and leases 1,844,348 1,853,007 1,812,994 1.7

 Securities** 530,913 545,420 586,069 -9.4

 Other real estate owned 839 778 783 7.1

 Goodwill and other intangibles 18,296 18,771 18,606 -1.7

 All other assets 315,290 304,088 304,488 3.5

Total liabilities and capital 2,709,686 2,722,065 2,722,939 -0.5

 Deposits 2,262,338 2,266,476 2,293,480 -1.4

 Domestic office deposits 2,259,467 2,263,730 2,292,754 -1.5

 Foreign office deposits 2,871 2,746 726 295.6

 Brokered deposits 112,885 112,572 108,641 3.9

 Other borrowed funds 152,549 159,511 144,955 5.2

 Subordinated debt 172 173 347 -50.3

 All other liabilities 28,426 28,822 25,805 10.2

 Total equity capital (includes minority interests) 266,200 267,082 258,353 3.0

 Bank equity capital 266,056 266,956 258,234 3.0

Loans and leases 30-89 days past due 8,808 8,324 6,741 30.7

Noncurrent loans and leases 10,943 10,064 8,291 32.0

Restructured loans and leases 2,609 2,767 2,469 5.7

Mortgage-backed securities 219,915 224,969 239,078 -8.0

Earning assets 2,538,209 2,544,342 2,550,479 -0.5

FHLB Advances 100,237 108,185 109,885 -8.8

Unused loan commitments 394,834 399,998 425,129 -7.1

Trust assets 353,374 405,323 296,328 19.3

Assets securitized and sold 21,417 22,529 25,473 -15.9

Notional amount of derivatives 135,507 129,143 115,207 17.6

INCOME DATA

Full Year

 2023

Full Year

2022 % Change

1st Quarter 

2024

1st Quarter 

2023

% Change 

23Q1-24Q1

Total interest income $124,798 $95,812 30.3 $33,909 $29,777 13.9

Total interest expense 40,931 11,051 270.4 13,534 7,713 75.5

 Net interest income 83,868 84,761 -1.1 20,375 22,064 -7.7

Provision for credit losses*** 3,314 2,577 28.6 770 774 -0.5

Total noninterest income 19,434 19,855 -2.1 4,922 4,553 8.1

Total noninterest expense 66,670 64,637 3.1 16,971 16,810 1.0

Securities gains (losses) -937 -789 18.7 47 -435 -110.9

Applicable income taxes 5,499 6,472 -15.0 1,312 1,548 -15.2

Extraordinary gains, net**** 5 23 N/M 0 4 N/M

 Total net income (includes minority interests) 26,887 30,165 -10.9 6,291 7,054 -10.8

 Bank net income 26,878 30,156 -10.9 6,281 7,052 -10.9

Net charge-offs 2,064 1,120 84.3 519 422 22.8

Cash dividends 12,558 12,351 1.7 2,867 2,884 -0.6

Retained earnings 14,320 17,805 -19.6 3,414 4,168 -18.1

 Net operating income 27,687 30,818 -10.2 6,256 7,461 -16.1

* For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk. Beginning 

in 2024, almost all institutions have adopted ASU 2016-13.

** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, 

this item represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

**** See Notes to Users for explanation. N/M - Not Meaningful
QUARTERLY 2024 VOLUME 18, NUMBER 2

25 

Table II-B. Aggregate Condition and Income Data, FDIC-Insured Community Banks 

Prior Periods Adjusted for Mergers

(dollar figures in millions) 1st Quarter 

2024

4th Quarter 

2023

1st Quarter 

2023

% Change 

23Q1-24Q1

Number of institutions reporting 4,128 4,127 4,122 0.1

Total employees (full-time equivalent) 364,968 365,605 366,046 -0.3

CONDITION DATA

Total assets $2,709,686 $2,688,912 $2,604,604 4.0

 Loans secured by real estate 1,464,952 1,449,215 1,364,463 7.4

 1-4 Family residential mortgages 459,534 455,597 423,467 8.5

 Nonfarm nonresidential 575,471 567,591 539,203 6.7

 Construction and development 154,572 154,868 147,401 4.9

 Home equity lines 46,694 45,856 42,120 10.9

 Commercial & industrial loans 238,369 236,195 226,838 5.1

 Loans to individuals 73,791 73,769 70,893 4.1

 Credit cards 2,916 3,013 2,649 10.1

 Farm loans 49,811 51,345 42,471 17.3

 Other loans & leases 41,095 40,672 40,155 2.3

 Less: Unearned income 732 683 676 8.3

 Total loans & leases 1,867,286 1,850,514 1,744,144 7.1

 Less: Reserve for losses* 22,939 22,661 21,809 5.2

 Net loans and leases 1,844,348 1,827,853 1,722,334 7.1

 Securities** 530,913 539,627 569,673 -6.8

 Other real estate owned 839 750 743 13.0

 Goodwill and other intangibles 18,296 18,274 18,250 0.2

 All other assets 315,290 302,409 293,603 7.4

Total liabilities and capital 2,709,686 2,688,912 2,604,604 4.0

 Deposits 2,262,338 2,239,459 2,197,965 2.9

 Domestic office deposits 2,259,467 2,236,712 2,195,441 2.9

 Foreign office deposits 2,871 2,746 2,524 13.7

 Brokered deposits 112,885 110,510 92,855 21.6

 Other borrowed funds 152,549 157,009 133,711 14.1

 Subordinated debt 172 173 208 -17.1

 All other liabilities 28,426 28,296 24,504 16.0

 Total equity capital (includes minority interests) 266,200 263,974 248,215 7.2

 Bank equity capital 266,056 263,822 248,071 7.3

Loans and leases 30-89 days past due 8,808 8,232 6,488 35.8

Noncurrent loans and leases 10,943 9,946 7,926 38.1

Restructured loans and leases 2,609 2,552 2,461 6.0

Mortgage-backed securities 219,915 219,638 229,147 -4.0

Earning assets 2,538,209 2,513,618 2,437,817 4.1

FHLB Advances 100,237 107,031 99,729 0.5

Unused loan commitments 394,834 393,321 408,566 -3.4

Trust assets 353,374 402,040 316,358 11.7

Assets securitized and sold 21,417 22,528 24,202 -11.5

Notional amount of derivatives 135,507 126,522 104,188 30.1

INCOME DATA

Full Year 

2023

Full Year

2022 % Change

1st Quarter 

2024

1st Quarter 

 2023

% Change 

23Q1-24Q1

Total interest income $123,012 $90,667 35.7 $33,909 $28,129 20.5

Total interest expense 40,142 10,140 295.9 13,534 7,034 92.4

 Net interest income 82,870 80,527 2.9 20,375 21,095 -3.4

Provision for credit losses*** 3,219 2,419 33.1 770 674 14.2

Total noninterest income 19,574 19,278 1.5 4,922 4,574 7.6

Total noninterest expense 66,162 61,926 6.8 16,971 16,122 5.3

Securities gains (losses) -895 -713 25.6 47 -115 -141.3

Applicable income taxes 5,412 6,028 -10.2 1,312 1,458 -10.0

Extraordinary gains, net**** 5 23 N/M 0 4 N/M

 Total net income (includes minority interests) 26,761 28,741 -6.9 6,291 7,304 -13.9

 Bank net income 26,722 28,725 -7.0 6,281 7,296 -13.9

Net charge-offs 1,994 1,046 90.5 519 329 57.7

Cash dividends 12,369 11,713 5.6 2,867 2,810 2.0

Retained earnings 14,353 17,012 -15.6 3,414 4,486 -23.9

 Net operating income 27,528 29,327 -6.1 6,256 7,404 -15.5

* For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk. Beginning 

in 2024, almost all institutions have adopted ASU 2016-13.

** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, 

this item represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

**** See Notes to Users for explanation. N/M - Not Meaningful
QUARTERLY 2024 VOLUME 18, NUMBER 2

26 

Table III-B. Aggregate Condition and Income Data by Geographic Region, FDIC-Insured Community Banks

First Quarter 2024

(dollar figures in millions) All Community 

Banks

Geographic Regions*

New York Atlanta Chicago Kansas City Dallas San Francisco

Number of institutions reporting 4,128 449 463 903 1,121 939 253

Total employees (full-time equivalent) 364,968 69,827 37,766 74,383 70,912 81,675 30,405

CONDITION DATA

Total assets $2,709,686 $626,060 $269,152 $498,975 $523,408 $536,097 $255,995

 Loans secured by real estate 1,464,952 385,274 143,434 261,415 263,948 275,312 135,569

 1-4 Family residential mortgages 459,534 146,092 45,202 80,161 75,695 81,923 30,461

 Nonfarm nonresidential 575,471 138,826 62,502 101,117 91,365 114,564 67,096

 Construction and development 154,572 27,402 17,571 24,544 28,558 44,791 11,706

 Home equity lines 46,694 11,543 5,857 10,373 6,307 6,126 6,487

 Commercial & industrial loans 238,369 45,023 22,365 50,029 53,505 47,611 19,837

 Loans to individuals 73,791 17,036 7,419 13,540 13,787 13,326 8,683

 Credit cards 2,916 409 120 173 975 262 977

 Farm loans 49,811 469 1,428 7,716 29,843 7,814 2,541

 Other loans & leases 41,095 11,088 2,517 8,579 8,229 7,822 2,860

 Less: Unearned income 732 143 90 75 102 193 130

 Total loans & leases 1,867,286 458,747 177,074 341,204 369,209 351,692 169,361

 Less: Reserve for losses** 22,939 4,609 2,216 4,274 4,717 4,548 2,575

 Net loans and leases 1,844,348 454,138 174,858 336,930 364,492 347,144 166,786

 Securities*** 530,913 102,106 54,902 104,435 101,599 113,060 54,811

 Other real estate owned 839 138 96 106 206 231 63

 Goodwill and other intangibles 18,296 4,678 776 3,740 3,558 3,593 1,951

 All other assets 315,290 65,000 38,520 53,764 53,553 72,068 32,384

Total liabilities and capital 2,709,686 626,060 269,152 498,975 523,408 536,097 255,995

 Deposits 2,262,338 506,267 232,581 416,585 436,392 458,375 212,136

 Domestic office deposits 2,259,467 505,425 232,581 416,585 436,392 458,375 210,108

 Foreign office deposits 2,871 843 0 0 0 0 2,028

 Brokered deposits 112,885 30,616 8,880 20,979 24,168 19,021 9,221

 Other borrowed funds 152,549 47,022 8,464 30,260 32,576 20,794 13,433

 Subordinated debt 172 7 0 15 1 139 10

 All other liabilities 28,426 8,395 2,419 4,676 5,013 4,521 3,403

 Total equity capital (includes minority interests) 266,200 64,369 25,688 47,439 49,425 52,267 27,012

 Bank equity capital 266,056 64,367 25,689 47,332 49,424 52,233 27,011

Loans and leases 30-89 days past due 8,808 1,931 829 1,372 1,830 2,296 550

Noncurrent loans and leases 10,943 2,911 958 1,951 1,746 2,444 933

Restructured loans and leases 2,609 713 182 658 437 481 138

Mortgage-backed securities 219,915 52,636 22,246 39,114 33,726 43,168 29,025

Earning assets 2,538,209 585,775 252,645 466,945 491,447 502,004 239,393

FHLB Advances 100,237 35,681 5,115 21,430 22,076 9,080 6,855

Unused loan commitments 394,834 85,827 34,435 74,506 89,996 69,703 40,367

Trust assets 353,374 71,262 12,343 68,967 135,242 43,195 22,365

Assets securitized and sold 21,417 9,795 35 2,886 6,320 1,794 587

Notional amount of derivatives 135,507 54,596 6,426 22,121 30,595 12,974 8,795

INCOME DATA

Total interest income $33,909 $7,456 $3,469 $6,104 $6,584 $7,101 $3,195

Total interest expense 13,534 3,357 1,253 2,388 2,761 2,659 1,115

 Net interest income 20,375 4,099 2,216 3,716 3,823 4,442 2,080

Provision for credit losses  770 112 71 100 141 165 181

Total noninterest income 4,922 1,021 433 1,042 992 955 480

Total noninterest expense 16,971 3,744 1,741 3,083 3,199 3,530 1,675

Securities gains (losses) 47 109 2 -18 19 -31 -33

Applicable income taxes 1,312 373 153 258 192 190 146

Extraordinary gains, net** *** 0 -1 0 0 0 0 0

 Total net income (includes minority interests) 6,291 1,000 685 1,298 1,302 1,481 525

 Bank net income 6,281 999 686 1,297 1,302 1,472 525

Net charge-offs 519 97 28 53 87 102 151

Cash dividends 2,867 432 226 604 630 743 233

Retained earnings 3,414 567 460 693 672 730 292

 Net operating income 6,256 913 684 1,313 1,288 1,507 552

* See Table IV-A for explanation.

** For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk. 

Beginning in 2024, almost all institutions have adopted ASU 2016-13.

*** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

  For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, 

this item represents the provision for loan and lease losses. Beginning in 2024, almost all institutions have adopted ASU 2016-13.

** *** See Notes to Users for explanation.
QUARTERLY 2024 VOLUME 18, NUMBER 2

27 

Table IV-B. First Quarter 2024, FDIC-Insured Community Banks

Performance ratios (annualized, %)

All Community Banks First Quarter 2024, Geographic Regions*

1st Quarter 

 2024

4th Quarter 

2023 New York Atlanta Chicago Kansas City Dallas San Francisco

Yield on earning assets 5.37 5.40 5.11 5.54 5.25 5.39 5.71 5.34

Cost of funding earning assets 2.14 2.06 2.30 2.00 2.05 2.26 2.14 1.86

 Net interest margin 3.23 3.35 2.81 3.54 3.20 3.13 3.57 3.47

Noninterest income to assets 0.73 0.73 0.65 0.65 0.84 0.76 0.72 0.75

Noninterest expense to assets 2.52 2.58 2.40 2.61 2.48 2.45 2.65 2.62

Loan and lease loss provision to assets 0.11 0.16 0.07 0.11 0.08 0.11 0.12 0.28

Net operating income to assets 0.93 0.92 0.58 1.03 1.06 0.99 1.13 0.86

Pretax return on assets 1.13 1.07 0.88 1.26 1.25 1.15 1.25 1.05

Return on assets 0.93 0.88 0.64 1.03 1.04 1.00 1.11 0.82

Return on equity 9.49 9.26 6.23 10.76 11.00 10.59 11.32 7.82

Net charge-offs to loans and leases 0.11 0.18 0.08 0.06 0.06 0.09 0.12 0.36

Loan and lease loss provision to net 

charge-offs 155.36 130.74 134.72 248.19 197.26 167.98 164.47 122.89

Efficiency ratio 66.72 66.20 72.76 65.61 64.34 65.97 65.00 65.22

Net interest income to operating revenue 80.54 81.01 80.06 83.66 78.10 79.40 82.30 81.25

% of unprofitable institutions 7.19 11.17 13.36 9.07 7.75 3.57 5.75 12.25

% of institutions with earnings gains 35.76 31.89 26.06 36.50 34.66 39.34 39.19 26.88

*See Table IV-A for explanation. 

Table V-B. Full Year 2023, FDIC-Insured Community Banks

Performance ratios (%)

All Community Banks Full Year 2023, Geographic Regions*

Full Year

 2023

Full Year

 2022 New York Atlanta Chicago Kansas City Dallas San Francisco

Yield on earning assets 5.04 3.89 4.85 5.31 4.93 4.99 5.32 5.02

Cost of funding earning assets 1.65 0.45 1.83 1.56 1.57 1.76 1.61 1.38

 Net interest margin 3.39 3.45 3.02 3.75 3.36 3.24 3.71 3.65

Noninterest income to assets 0.73 0.76 0.64 0.70 0.87 0.76 0.75 0.65

Noninterest expense to assets 2.52 2.46 2.38 2.68 2.50 2.47 2.65 2.57

Loan and lease loss provision to assets 0.13 0.10 0.09 0.15 0.09 0.12 0.14 0.23

Net operating income to assets 1.05 1.17 0.77 1.13 1.17 1.04 1.25 0.98

Pretax return on assets 1.22 1.40 0.99 1.34 1.36 1.13 1.39 1.24

Return on assets 1.02 1.15 0.76 1.10 1.12 0.99 1.23 0.96

Return on equity 10.73 11.97 7.61 12.29 12.19 10.87 13.13 9.57

Net charge-offs to loans and leases 0.11 0.07 0.09 0.14 0.07 0.11 0.14 0.21

Loan and lease loss provision to net 

charge-offs 156.98 225.29 132.06 164.53 184.48 158.46 156.36 163.20

Efficiency ratio 64.08 61.42 68.18 63.48 61.87 64.77 62.26 62.89

Net interest income to operating revenue 81.19 81.02 81.49 83.44 78.26 79.91 82.27 83.90

% of unprofitable institutions 5.31 3.62 9.09 6.87 5.97 2.40 4.14 10.59

% of institutions with earnings gains 47.84 55.80 35.03 56.01 45.64 45.61 54.94 47.06

*See Table IV-A for explanation. 
QUARTERLY 2024 VOLUME 18, NUMBER 2

28 

Table VI-B. Loan Performance, FDIC-Insured Community Banks

All Community 

Banks

Geographic Regions*

March 31, 2024 New York Atlanta Chicago Kansas City Dallas San Francisco

Percent of Loans 30-89 Days Past Due

All loans secured by real estate 0.40 0.36 0.42 0.38 0.42 0.54 0.21

 Construction and development 0.46 0.40 0.36 0.27 0.49 0.64 0.41

 Nonfarm nonresidential 0.27 0.24 0.27 0.29 0.26 0.32 0.18

 Multifamily residential real estate 0.26 0.47 0.18 0.07 0.11 0.25 0.02

 Home equity loans 0.45 0.54 0.37 0.46 0.48 0.48 0.30

 Other 1-4 family residential 0.55 0.40 0.67 0.60 0.55 0.81 0.22

Commercial and industrial loans 0.54 0.41 0.61 0.42 0.58 0.69 0.57

Loans to individuals 1.59 1.92 0.99 0.79 1.21 2.81 1.45

 Credit card loans 3.53 2.54 1.71 1.32 5.19 1.29 3.50

 Other loans to individuals 1.51 1.90 0.98 0.78 0.90 2.84 1.20

All other loans and leases (including farm) 0.57 0.30 0.31 0.44 0.67 0.70 0.57

Total loans and leases 0.47 0.42 0.47 0.40 0.50 0.65 0.32

Percent of Loans Noncurrent

All loans secured by real estate 0.53 0.58 0.50 0.55 0.43 0.61 0.45

 Construction and development 0.61 0.85 0.24 0.66 0.54 0.51 1.10

 Nonfarm nonresidential 0.55 0.62 0.54 0.62 0.47 0.60 0.34

 Multifamily residential real estate 0.39 0.52 0.60 0.29 0.28 0.23 0.23

 Home equity loans 0.51 0.56 0.24 0.36 0.43 0.49 0.99

 Other 1-4 family residential 0.51 0.51 0.53 0.55 0.39 0.67 0.30

Commercial and industrial loans 0.92 1.25 0.76 0.77 0.76 1.02 0.93

Loans to individuals 0.63 0.50 0.56 0.31 0.52 1.11 0.87

 Credit card loans 2.75 2.18 0.38 0.55 2.69 0.71 4.26

 Other loans to individuals 0.54 0.46 0.56 0.30 0.36 1.12 0.44

All other loans and leases (including farm) 0.50 0.13 0.64 0.50 0.33 0.87 1.22

Total loans and leases 0.59 0.63 0.54 0.57 0.47 0.69 0.55

Percent of Loans Charged-Off (net, YTD)

All loans secured by real estate 0.01 0.00 0.00 0.01 0.01 0.01 0.07

 Construction and development 0.00 0.00 -0.04 0.01 0.00 0.01 0.00

 Nonfarm nonresidential 0.03 0.00 0.01 0.03 0.02 0.02 0.14

 Multifamily residential real estate 0.02 0.02 0.00 0.00 0.10 0.03 -0.03

 Home equity loans 0.00 -0.02 0.00 0.00 0.00 -0.02 0.08

 Other 1-4 family residential 0.00 0.00 0.00 0.00 0.00 0.01 0.01

Commercial and industrial loans 0.26 0.27 0.23 0.21 0.12 0.28 0.79

Loans to individuals 1.58 1.41 0.87 0.41 1.82 1.58 4.02

 Credit card loans 12.06 4.49 2.28 1.83 18.69 1.70 14.16

 Other loans to individuals 1.14 1.34 0.85 0.39 0.49 1.58 2.70

All other loans and leases (including farm) 0.10 0.20 0.07 0.12 0.00 0.22 0.21

Total loans and leases 0.11 0.08 0.06 0.06 0.09 0.12 0.36

Loans Outstanding (in billions)

All real estate loans $1,465.0 $385.3 $143.4 $261.4 $263.9 $275.3 $135.6

 Construction and development 154.6 27.4 17.6 24.5 28.6 44.8 11.7

 Nonfarm nonresidential 575.5 138.8 62.5 101.1 91.4 114.6 67.1

 Multifamily residential real estate 141.6 59.2 7.5 26.4 21.4 11.2 15.9

 Home equity loans 46.7 11.5 5.9 10.4 6.3 6.1 6.5

 Other 1-4 family residential 459.5 146.1 45.2 80.2 75.7 81.9 30.5

Commercial and industrial loans 238.4 45.0 22.4 50.0 53.5 47.6 19.8

Loans to individuals 73.8 17.0 7.4 13.5 13.8 13.3 8.7

 Credit card loans 2.9 0.4 0.1 0.2 1.0 0.3 1.0

 Other loans to individuals 70.9 16.6 7.3 13.4 12.8 13.1 7.7

All other loans and leases (including farm) 90.9 11.6 3.9 16.3 38.1 15.6 5.4

Total loans and leases (plus unearned income) 1,868.0 458.9 177.2 341.3 369.3 351.9 169.5

Memo: Unfunded Commitments (in millions)

Total Unfunded Commitments 394,834 85,827 34,435 74,506 89,996 69,703 40,367

 Construction and development: 1-4 family 

 residential 30,353 5,105 4,434 4,071 4,875 9,829 2,040

 Construction and development: CRE and other 84,571 18,915 8,730 14,873 15,543 18,941 7,569

 Commercial and industrial 126,297 29,620 9,097 27,805 26,656 20,418 12,702

* See Table IV-A for explanation.

Note: Noncurrent loan rates represent the percentage of loans in each category that are past due 90 days or more or that are in nonaccrual status.
QUARTERLY 2024 VOLUME 18, NUMBER 2

29 

INSURANCE FUND INDICATORS

Deposit Insurance Fund Increases by $3.5 Billion

DIF Reserve Ratio Rises 2 Basis Points, Ends First Quarter at 1.17 Percent

No Institutions Failed During the First Quarter

During the first quarter, the Deposit Insurance Fund (DIF) balance 

increased by $3.5 billion to $125.3 billion. The rise in the DIF was 

primarily driven by assessment income of $3.2 billion. Net investment 

income (including the effect of unrealized gains and losses) added $0.8 

billion. These gains were partially offset by provisions for insurance 

losses of $0.01 billion, and operating expenses of $0.6 billion. There 

were no institutions that failed during the first quarter.

The deposit insurance assessment base—average consolidated total 

assets minus average tangible equity—increased by 0.4 percent in the 

first quarter and increased by 1.2 percent from a year ago.1,2 

Total estimated insured deposits increased by 1.1 percent in the first 

quarter and 2.5 percent year over year. The DIF’s reserve ratio (the fund 

balance as a percent of insured deposits) was 1.17 percent on March 31, 

2024, up 2 basis points from the previous quarter and 6 basis points 

higher than the previous year.

The FDIC adopted a DIF Restoration Plan on September 15, 2020, to 

return the reserve ratio to 1.35 percent, the statutory minimum, by 

September 2028 as required by law. Based on FDIC projections, the 

reserve ratio remains on track to reach 1.35 percent by the statutory 

deadline. The FDIC will continue to monitor factors affecting the 

reserve ratio, including but not limited to, insured deposit growth and 

potential losses due to bank failures and related reserves, as required 

under the current Restoration Plan.

Author:

Courtney Smith

Economic Analyst

Division of Insurance and Research

1 There are additional adjustments to the assessment base for banker’s banks and custodial banks.

2 Figures for estimated insured deposits and the assessment base include insured branches of foreign banks, in addition to insured commercial banks and savings institutions.
QUARTERLY 2024 VOLUME 18, NUMBER 2

30 

Table I-C. Insurance Fund Balances and Selected Indicators* 

 Deposit Insurance Fund**

(dollar figures in millions)

 1st

Quarter 

2024

4th 

Quarter 

2023

3rd 

Quarter 

2023

 2nd 

Quarter 

2023

 1st

Quarter 

2023

4th

Quarter

 2022

 3rd 

Quarter 

2022

 2nd 

Quarter 

2022

 1st 

Quarter 

2022

 4th

Quarter 

2021

 3rd 

Quarter 

2021

 2nd

Quarter 

2021

 1st

Quarter 

2021

Beginning Fund Balance $121,778 $119,339 $116,968 $116,071 $128,218 $125,457 $124,458 $123,039 $123,141 $121,935 $120,547 $119,362 $117,897

Changes in Fund Balance:

Assessments earned 3,248 3,107 3,225 3,127 3,306 2,142 2,145 2,086 1,938 1,967 1,662 1,589 1,862

Interest earned on investment 

securities 795 574 828 673 661 498 332 225 191 197 221 251 284

Realized gain on sale of 

investments 0 -450 -272 96 -1,666 0 0 0 0 0 0 0 0

Operating expenses 564 604 517 497 508 515 456 460 453 475 448 466 454

Provision for insurance losses 9 856 1,237 2,033 16,402 -48 -49 -86 100 8 -53 -42 -57

All other income, net of 

expenses 32 30 4 3 12 114 6 29 8 61 65 2 1

Unrealized gain/(loss) on 

available-for-sale securities*** 20 638 340 -472 2,450 474 -1,077 -547 -1,686 -536 -165 -233 -285

Total fund balance change 3,522 2,439 2,371 897 -12,147 2,761 999 1,419 -102 1,206 1,388 1,185 1,465

Ending Fund Balance 125,300 121,778 119,339 116,968 116,071 128,218 125,457 124,458 123,039 123,141 121,935 120,547 119,362

Percent change from four 

quarters earlier 7.95 -5.02 -4.88 -6.02 -5.66 4.12 2.89 3.24 3.08 4.45 4.72 5.14 5.44

Reserve Ratio (%) 1.17 1.15 1.13 1.11 1.11 1.25 1.23 1.23 1.21 1.24 1.25 1.27 1.26

Estimated Insured Deposits 10,739,508 10,622,578 10,574,274 10,567,656 10,477,029 10,250,915 10,174,533 10,082,097 10,141,735 9,901,554 9,740,513 9,467,267 9,491,917

 Percent change from four 

quarters earlier 2.51 3.63 3.93 4.82 3.31 3.53 4.46 6.49 6.85 8.79 9.46 7.41 16.33

 Percent of Total Deposit 

Liabilites After Exclusions 59.99 59.94 59.68 59.57 58.75 56.17 55.26 54.35 53.73 52.97 53.68 53.55 54.44

Estimated Uninsured 

Deposits 7,162,203 7,099,605 7,143,140 7,170,948 7,357,362 7,999,991 8,237,106 8,467,915 8,733,003 8,789,753 8,406,506 8,210,729 7,944,581

Percent change from four 

quarters earlier -2.65 -11.25 -13.28 -15.32 -15.75 -8.99 -2.02 3.13 9.92 14.41 15.44 14.19 20.03

Percent of Total Deposit 

Liabilites After Exclusions 40.01 40.06 40.32 40.43 41.25 43.83 44.74 45.65 46.27 47.03 46.32 46.45 45.56

Total Deposit Liabilities 

After Exclusions  17,901,711 17,722,183 17,717,414 17,738,604 17,834,392 18,250,906 18,411,639 18,550,012 18,874,738 18,691,306 18,147,019 17,677,996 17,436,499

Percent change from four 

quarters earlier 0.38 -2.90 -3.77 -4.37 -5.51 -2.36 1.46 4.93 8.25 11.36 12.15 10.45 17.99

Assessment Base** *** 20,970,487 20,887,536 20,715,943 20,843,867 20,731,038 21,013,504 21,027,621 21,053,606 20,936,243 20,677,903 20,123,703 19,771,625 19,305,586

Percent change from four 

quarters earlier 1.16 -0.60 -1.48 -1.00 -0.98 1.62 4.49 6.48 8.45 9.38 8.36 8.26 16.40

Number of Institutions 

Reporting 4,577 4,596 4,623 4,654 4,681 4,715 4,755 4,780 4,805 4,848 4,923 4,959 4,987

* Includes insured branches of foreign banks (IBAs) and any revisions to prior quarter data.

** Quarterly financial statement results are unaudited.

*** Includes unrealized postretirement benefit gain (loss).

  Does not equal total deposits and domestic office deposits in the tables above due to adjustments to align with the determination of deposit insurance coverage in the event 

of a bank failure.

** *** Average consolidated total assets minus tangible equity, with adjustments for banker's banks and custodial banks.

Table II-C. Problem Institutions and Failed Institutions

(dollar figures in millions) 2024*** 2023*** 2023 2022 2021 2020 2019 2018 2017

Problem Institutions

 Number of institutions 63 43 52 39 44 56 51 60 95

 Total assets* $82,073 $57,993 $66,279 $47,463 $170,172 $55,830 $46,190 $48,481 $13,939

Failed Institutions

 Number of institutions 0 2 5 0 0 4 4 0 8

 Total assets** $0 $319,390 $552,539 $0 $0 $455 $209 $0 $5,082

* Assets shown are what were on record as of the last day of the quarter.

** Total assets are based on final Call Reports submitted by failed institutions.

*** Through March 31.
QUARTERLY 2024 VOLUME 18, NUMBER 2

31 

Deposit Insurance Fund Balance 

and Insured Deposits

($ Millions)

DIF 

Balance

DIF-Insured 

Deposits

3/21 $119,362 $9,491,917

6/21 120,547 9,467,267

9/21 121,935 9,740,513

12/21 123,141 9,901,554

3/22 123,039 10,141,735

6/22 124,458 10,082,097

9/22 125,457 10,174,533

12/22 128,218 10,250,915

3/23 116,071 10,477,029

6/23 116,968 10,567,656

9/23 119,339 10,574,274

12/23 121,778 10,622,578

3/24 125,300 10,739,508

Table III-C. Estimated FDIC-Insured Deposits by Type of Institution

(dollar figures in millions)

March 31, 2024

Number of

Institutions

Total

Assets

Domestic

Deposits*

Est. Insured

Deposits

Commercial Banks and Savings Institutions

 FDIC-Insured Commercial Banks 4,012 $22,753,921 $16,568,013 $9,882,409 

 FDIC-Supervised 2,636 3,875,372 3,105,175 2,116,309 

 OCC-Supervised 705 15,261,790 10,799,592 6,280,649 

 Federal Reserve-Supervised 671 3,616,760 2,663,246 1,485,450 

 FDIC-Insured Savings Institutions 556 1,203,792 968,259 805,283 

 OCC-Supervised 242 538,063 427,805 363,573 

 FDIC-Supervised 278 304,268 239,202 180,139 

 Federal Reserve-Supervised 36 361,461 301,253 261,570 

Total Commercial Banks and Savings Institutions 4,568 23,957,714 17,536,272 10,687,692 

Other FDIC-Insured Institutions

 U.S. Branches of Foreign Banks 9 103,459 58,765 51,816 

Total FDIC-Insured Institutions 4,577 24,061,173 17,595,037 10,739,508 

* Excludes $1.5 trillion in foreign office deposits, which are not FDIC insured.

Table IV-C. Distribution of Institutions and Assessment Base by Assessment Rate Range 

Quarter Ending December 31, 2023 (dollar figures in billions)

Annual Rate in Basis Points

Number of

Institutions

Percent of Total

Institutions

Amount of

Assessment Base

Percent of Total

Assessment Base

2.50 - 5.00 2,708 58.9 $5,271.2 25.24

5.01 - 8.00 1,242 27.0 12,706.3 60.83

8.01 - 12.00 513 11.2 2,465.7 11.80

12.01 - 17.00 60 1.3 261.0 1.25

>17.00 73 1.6 183.4 0.9

DIF Reserve Ratios

Percent of Insured Deposits

1.26 1.27 1.25 1.24 1.21 1.23 1.23 1.25

1.11 1.11 1.13 1.15 1.17

3/21 6/21 9/21 12/21 3/22 6/22 9/22 12/22 3/23 6/23 9/23 12/23 3/24
QUARTERLY 2024 VOLUME 18, NUMBER 2

32 

NOTES TO USERS

This publication contains financial data and other information for depository 

institutions insured by the Federal Deposit Insurance Corporation (FDIC). These 

notes are an integral part of this publication and provide information regarding 

the comparability of source data and reporting differences over time.

TABLES I-A THROUGH VIII-A. The information presented in Tables I-A through VIII-A of the FDIC Quarterly 

Banking Profile is aggregated for all FDIC-insured Call Report filers, both 

commercial banks and savings institutions. Some tables are arrayed by 

groups of FDIC-insured institutions based on predominant types of asset 

concentration, while other tables aggregate institutions by asset size and 

geographic region. Quarterly and full-year data are provided for selected 

indicators, including aggregate condition and income data, performance ratios, 

condition ratios, and structural changes, as well as past due, noncurrent, and 

charge-off information for loans outstanding and other assets.

TABLES I-B THROUGH VI-B. The information presented in Tables I-B through VI-B is aggregated for 

all FDIC-insured commercial banks and savings institutions meeting the 

criteria for community banks that were developed for the FDIC’s Community 

Banking Study, published in December, 2012: https://www.fdic.gov/resources/

community-banking/cbi-study.html. 

The determination of which insured institutions are considered community 

banks is based on five steps.

The first step in defining a community bank is to aggregate all charter-level 

data reported under each holding company into a single banking organization. 

This aggregation applies both to balance-sheet measures and the number 

and location of banking offices. Under the FDIC definition, if the banking 

organization is designated as a community bank, every charter reporting under 

that organization is also considered a community bank when working with data 

at the charter level. 

The second step is to exclude any banking organization where more than 50 

percent of total assets are held in certain specialty banking charters, including: 

credit card specialists, consumer nonbank banks, industrial loan companies, trust 

companies, bankers’ banks, and banks holding 10 percent or more of total assets 

in foreign offices.

Once the specialty organizations are removed, the third step involves including 

organizations that engage in basic banking activities as measured by the total 

loans-to-assets ratio (greater than 33 percent) and the ratio of core deposits 

to assets (greater than 50 percent). Core deposits are defined as non-brokered 

deposits in domestic offices. Analysis of the underlying data shows that these 

thresholds establish meaningful levels of basic lending and deposit gathering 

and still allow for a degree of diversity in how individual banks construct their 

balance sheets.

The fourth step includes organizations that operate within a limited geographic 

scope. This limitation of scope is used as a proxy measure for a bank’s 

relationship approach to banking. Banks that operate within a limited market 

area have more ease in managing relationships at a personal level. Under this 

step, four criteria are applied to each banking organization. They include both 

a minimum and maximum number of total banking offices, a maximum level 

of deposits for any one office, and location-based criteria. The limits on the 
QUARTERLY 2024 VOLUME 18, NUMBER 2

33 

number of and deposits per office are adjusted upward quarterly. For banking 

offices, banks must have more than one office, and the maximum number of 

offices is 40 in 1985 and reached 107 in 2024. The maximum level of deposits 

for any one office is $1.25 billion in deposits in 1985 and reached $10.87 billion 

in deposits in 2024. The remaining geographic limitations are also based on 

maximums for the number of states (fixed at 3) and large metropolitan areas 

(fixed at 2) in which the organization maintains offices. Branch office data are 

based on the most recent data from the annual June 30 Summary of Deposits 

Survey that are available at the time of publication. 

Finally, the definition establishes an asset-size limit, also adjusted upward 

quarterly and below which the limits on banking activities and geographic scope 

are waived. The asset-size limit is $250 million in 1985 and reached $2.17 billion 

in 2024. This final step acknowledges the fact that most of those small banks 

that are not excluded as specialty banks meet the requirements for banking 

activities and geographic limits in any event.

SUMMARY OF FDIC RESEARCH 

DEFINITION OF COMMUNITY 

BANKING ORGANIZATIONS

Community banks are designated at the level of the banking organization.

(All charters under designated holding companies are considered community 

banking charters.)

Exclude: Any organization with:

— No loans or no core deposits

— Assets held in foreign branches ≥ 10% of total assets

— More than 50% of assets in certain specialty banks, including:

• credit card specialists

• consumer nonbank banks1

• industrial loan companies

• trust companies

• bankers’ banks

Include: All remaining banking organizations with:

— Total assets < indexed size threshold 2

— Total assets ≥ indexed size threshold, where:

• Loan to assets > 33%

• Core deposits to assets > 50%

• More than 1 office but no more than the indexed maximum number of 

offices.3

• Number of large MSAs with offices ≤ 2

• Number of states with offices ≤ 3

• No single office with deposits > indexed maximum branch deposit size.4

TABLES I-C THROUGH IV-C. A separate set of tables (Tables I-C through IV-C) provides comparative 

quarterly data related to the Deposit Insurance Fund (DIF), problem 

institutions, failed institutions, estimated FDIC-insured deposits, as well as 

1 Consumer nonbank banks are financial institutions with limited charters that can make commercial loans or take deposits, but not both.

2 Asset size threshold indexed to equal $250 million in 1985 and $2.17 billion in 2024.

3 Maximum number of offices indexed to equal 40 in 1985 and 107 in 2024.

4 Maximum branch deposit size indexed to equal $1.25 billion in 1985 and $10.87 billion in 2024.
QUARTERLY 2024 VOLUME 18, NUMBER 2

34 

assessment rate information. Depository institutions that are not insured 

by the FDIC through the DIF are not included in the FDIC Quarterly Banking 

Profile. U.S. branches of institutions headquartered in foreign countries and 

non-deposit trust companies are not included unless otherwise indicated. 

Efforts are made to obtain financial reports for all active institutions. However, 

in some cases, final financial reports are not available for institutions that have 

closed or converted their charters.

DATA SOURCES The financial information appearing in this publication is obtained primarily 

from the Federal Financial Institutions Examination Council (FFIEC) 

Consolidated Reports of Condition and Income (Call Reports) and the OTS Thrift 

Financial Reports (TFR) submitted by all FDIC-insured depository institutions. 

(TFR filers began filing Call Reports effective with the quarter ending March 

31, 2012.) This information is stored on and retrieved from the FDIC’s Research 

Information System (RIS) database.

COMPUTATION METHODOLOGY Parent institutions are required to file consolidated reports, while their 

subsidiary financial institutions are still required to file separate reports. 

Data from subsidiary institution reports are included in the Quarterly Banking 

Profile tables, which can lead to double-counting. No adjustments are made for 

any double-counting of subsidiary data. Additionally, certain adjustments are 

made to the OTS Thrift Financial Reports to provide closer conformance with the 

reporting and accounting requirements of the FFIEC Call Reports. (TFR filers 

began filing Call Reports effective with the quarter ending March 31, 2012.)

All condition and performance ratios represent weighted averages, which is 

the sum of the individual numerator values divided by the sum of individual 

denominator values. All asset and liability figures used in calculating 

performance ratios represent average amounts for the period (beginning-ofperiod amount plus end-of-period amount plus any interim periods, divided 

by the total number of periods). For “pooling-of-interest” mergers, the assets 

of the acquired institution(s) are included in average assets, since the yearto-date income includes the results of all merged institutions. No adjustments 

are made for “purchase accounting” mergers. Growth rates represent the 

percentage change over a 12-month period in totals for institutions in the 

base period to totals for institutions in the current period. For the community 

bank subgroup, growth rates will reflect changes over time in the number and 

identities of institutions designated as community banks, as well as changes 

in the assets and liabilities, and income and expenses of group members. 

Unless indicated otherwise, growth rates are not adjusted for mergers or 

other changes in the composition of the community bank subgroup. When 

community bank growth rates are adjusted for mergers, prior period balances 

used in the calculations represent totals for the current group of community 

bank reporters, plus prior period amounts for any institutions that were 

subsequently merged into current community banks.

All data are collected and presented based on the location of each reporting 

institution’s main office. Reported data may include assets and liabilities 

located outside of the reporting institution’s home state. In addition, 

institutions may relocate across state lines or change their charters, resulting 

in an inter-regional or inter-industry migration; institutions can move their 

home offices between regions, savings institutions can convert to commercial 

banks, or commercial banks may convert to savings institutions.
QUARTERLY 2024 VOLUME 18, NUMBER 2

35 

ACCOUNTING CHANGES Financial accounting pronouncements by the Financial Accounting Standards 

Board (FASB) can result in changes in an individual bank’s accounting policies 

and in the Call Reports they submit. Such accounting changes can affect the 

aggregate amounts presented in the QBP for the current period and the periodto-period comparability of such financial data. 

The current quarter’s Financial Institution Letter (FIL) and related Call Report 

supplemental instructions can provide additional explanation to the QBP reader 

beyond any material accounting changes discussed in the QBP analysis.

https://www.fdic.gov/news/financial-institution-letters/

consolidated-reports-condition-and-income-first-quarter-2024

https://www.fdic.gov/resources/bankers/call-reports/index.html

Further information on changes in financial statement presentation, income 

recognition and disclosure is available from the FASB. 

https://www.fasb.org/standards

DEFINITIONS 

(IN ALPHABETICAL ORDER)

All other assets – total cash, balances due from depository institutions, 

premises, fixed assets, direct investments in real estate, investment in 

unconsolidated subsidiaries, customers’ liability on acceptances outstanding, 

assets held in trading accounts, federal funds sold, securities purchased 

with agreements to resell, fair market value of derivatives, prepaid deposit 

insurance assessments, and other assets.

All other liabilities – bank’s liability on acceptances, limited-life preferred 

stock, allowance for estimated off-balance-sheet credit losses, fair market 

value of derivatives, and other liabilities.

Assessment base – Effective April 1, 2011, the deposit insurance assessment 

base changed to “average consolidated total assets minus average tangible 

equity” with an additional adjustment to the assessment base for banker’s 

banks and custodial banks. Previously, the assessment base consisted of 

deposit liabilities after exclusions.

Assessment rate schedule – Initial base assessment rates for small institutions 

(except new institutions) are based on a combination of financial ratios and 

CAMELS component ratings. Initial rates for large institutions—generally 

those with at least $10 billion in assets—are also based on CAMELS component 

ratings and certain financial measures combined into two scorecards—one for 

most large institutions and another for the remaining very large institutions 

that are structurally and operationally complex or that pose unique challenges 

and risks in case of failure (highly complex institutions). The FDIC may take 

additional information into account to make a limited adjustment to a large 

institution’s scorecard results, which are used to determine a large institution’s 

initial base assessment rate.

Initial rates for small institutions are subject to minimums and maximums 

based on an institution’s CAMELS composite rating.

The current assessment rate schedule became effective January 1, 2023. Under 

the current schedule, initial base assessment rates range from 5 to 32 basis 

points. An institution’s total base assessment rate may differ from its initial 

rate due to three possible adjustments: (1) Unsecured Debt Adjustment: An 

institution’s rate may decrease by up to 5 basis points for unsecured debt. 

The unsecured debt adjustment cannot exceed the lesser of 5 basis points or 

50 percent of an institution’s initial base assessment rate (IBAR). Thus, for 
QUARTERLY 2024 VOLUME 18, NUMBER 2

36 

example, an institution with an IBAR of 5 basis points would have a maximum 

unsecured debt adjustment of 2.5 basis points and could not have a total base 

assessment rate lower than 2.5 basis points. (2) Depository Institution Debt 

Adjustment: For institutions that hold long-term unsecured debt issued by 

another insured depository institution, a 50 basis point charge is applied to the 

amount of such debt held in excess of 3 percent of an institution’s Tier 1 capital. 

(3) Brokered Deposit Adjustment: Rates for large institutions that are not well 

capitalized or do not have a composite CAMELS rating of 1 or 2 may increase 

(not to exceed 10 basis points) if their brokered deposits exceed 10 percent of 

domestic deposits.

The assessment rate schedule effective January 1, 2023, is shown in the 

following table:

Total Base Assessment Rates*

Established Small Banks Large and 

Highly Complex 

Institutions

CAMELS Composite

1 or 23 4 or 5

Initial Base Assessment Rate 5 to 18 8 to 32 18 to 32 5 to 32

Unsecured Debt Adjustment -5 to 0 -5 to 0 -5 to 0 -5 to 0

Brokered Deposit Adjustment N/A N/A N/A 0 to 10

Total Base Assessment Rate 2.5 to 18 4 to 32 13 to 32 2.5 to 42

* All amounts for all categories are in basis points annually. Total base rates that are not the minimum or 

maximum rate will vary between these rates. Total base assessment rates do not include the depository 

institution debt adjustment.

Each institution is assigned a risk-based rate for a quarterly assessment 

period near the end of the quarter following the assessment period. Payment 

is generally due on the 30th day of the last month of the quarter following the 

assessment period. Supervisory rating changes are effective for assessment 

purposes as of the examination transmittal date.

Assets securitized and sold – total outstanding principal balance of assets 

securitized and sold with servicing retained or other seller-provided credit 

enhancements.

Capital Purchase Program (CPP) – As announced in October 2008 under the 

TARP, the Treasury Department purchase of noncumulative perpetual preferred 

stock and related warrants that is treated as Tier 1 capital for regulatory capital 

purposes is included in “Total equity capital.” Such warrants to purchase 

common stock or noncumulative preferred stock issued by publicly-traded 

banks are reflected as well in “Surplus.” Warrants to purchase common stock or 

noncumulative preferred stock of not-publicly-traded bank stock are classified 

in a bank’s balance sheet as “Other liabilities.”

Common equity Tier 1 capital ratio – ratio of common equity Tier 1 capital 

to risk-weighted assets. Common equity Tier 1 capital includes common 

stock instruments and related surplus, retained earnings, accumulated other 

comprehensive income (AOCI), and limited amounts of common equity Tier 1 

minority interest, minus applicable regulatory adjustments and deductions. 

Items that are fully deducted from common equity Tier 1 capital include 

goodwill, other intangible assets (excluding mortgage servicing assets) and 

certain deferred tax assets; items that are subject to limits in common equity 

Tier 1 capital include mortgage servicing assets, eligible deferred tax assets, 

and certain significant investments. Beginning March 2020, this ratio does not 
QUARTERLY 2024 VOLUME 18, NUMBER 2

37 

include institutions that have a Community Bank Leverage Ratio election in 

effect at the report date.

Construction and development loans – includes loans for all property types 

under construction, as well as loans for land acquisition and development.

Core capital – common equity capital plus noncumulative perpetual preferred 

stock plus minority interest in consolidated subsidiaries, less goodwill and 

other ineligible intangible assets. The amount of eligible intangibles (including 

servicing rights) included in core capital is limited in accordance with 

supervisory capital regulations.

Cost of funding earning assets – total interest expense paid on deposits and 

other borrowed money as a percentage of average earning assets.

Credit enhancements – techniques whereby a company attempts to reduce 

the credit risk of its obligations. Credit enhancement may be provided by a 

third party (external credit enhancement) or by the originator (internal credit 

enhancement), and more than one type of enhancement may be associated with 

a given issuance.

Deposit Insurance Fund (DIF) – the Bank (BIF) and Savings Association (SAIF) 

Insurance Funds were merged in 2006 by the Federal Deposit Insurance Reform 

Act to form the DIF.

Deposits liabilities after exclusions – amount equal to gross total deposit 

liabilities meeting the statutory definition of a deposit in Section 3(l) of 

the Federal Deposit Insurance Act, before deducting allowable exclusions. 

Deposit liabilities after exclusions may differ from amounts reported for total 

deposits or total domestic deposits due to adjustments made to align with the 

determination of deposit insurance coverage in the event of a bank failure, 

including reporting based on an unconsolidated single FDIC certificate number 

basis.

Derivatives notional amount – the notional, or contractual, amounts of 

derivatives represent the level of involvement in the types of derivatives 

transactions and are not a quantification of market risk or credit risk. Notional 

amounts represent the amounts used to calculate contractual cash flows to be 

exchanged.

Derivatives credit equivalent amount – the fair value of the derivative plus an 

additional amount for potential future credit exposure based on the notional 

amount, the remaining maturity and type of the contract.

Derivatives transaction types:

Futures and forward contracts – contracts in which the buyer agrees to 

purchase and the seller agrees to sell, at a specified future date, a specific 

quantity of an underlying variable or index at a specified price or yield. These 

contracts exist for a variety of variables or indices, (traditional agricultural 

or physical commodities, as well as currencies and interest rates). Futures 

contracts are standardized and are traded on organized exchanges which 

set limits on counterparty credit exposure. Forward contracts do not have 

standardized terms and are traded over the counter.

Option contracts – contracts in which the buyer acquires the right to buy 

from or sell to another party some specified amount of an underlying 

variable or index at a stated price (strike price) during a period or on a 

specified future date, in return for compensation (such as a fee or premium). 
QUARTERLY 2024 VOLUME 18, NUMBER 2

38 

The seller is obligated to purchase or sell the variable or index at the 

discretion of the buyer of the contract.

Swaps – obligations between two parties to exchange a series of cash flows 

at periodic intervals (settlement dates), for a specified period. The cash 

flows of a swap are either fixed, or determined for each settlement date by 

multiplying the quantity (notional principal) of the underlying variable or 

index by specified reference rates or prices. Except for currency swaps, the 

notional principal is used to calculate each payment but is not exchanged.

Derivatives underlying risk exposure – the potential exposure characterized 

by the level of banks’ concentration in particular underlying instruments, in 

general. Exposure can result from market risk, credit risk, and operational risk, 

as well as, interest rate risk.

Domestic deposits to total assets – total domestic office deposits as a percent 

of total assets on a consolidated basis.

Earning assets – all loans and other investments that earn interest or dividend 

income.

Efficiency ratio – noninterest expense less amortization of intangible assets as 

a percent of net interest income plus noninterest income. This ratio measures 

the proportion of net operating revenues that are absorbed by overhead 

expenses, so that a lower value indicates greater efficiency.

Estimated insured deposits – In general, insured deposits are total deposit 

liabilities after exclusions minus estimated uninsured deposits. Beginning 

September 30, 2009, insured deposits reflect an increase in the FDIC’s standard 

maximum deposit insurance amount from $100,000 to $250,000. From 

December 31, 2010, through December 31, 2012, insured deposits also include all 

funds held in noninterest-bearing transaction accounts, without limit.

Estimated uninsured deposits – In general, institutions with $1 billion or 

more in total assets report estimated uninsured deposits in domestic offices 

of the bank and in insured branches in Puerto Rico and U.S. territories and 

possessions, including related interest accrued and unpaid. For institutions 

that do not report estimated uninsured deposits, the FDIC calculates this 

amount as the amount of deposit and retirement accounts with balances greater 

than the standard maximum deposit insurance amount (SMDIA), currently 

$250,000, minus the portion that is insured. The amount that is insured is 

estimated by multiplying the number of accounts with balances greater than 

the SMDIA, as reported on the Call Report, by the SMDIA. For example, under 

the current SMDIA, if an institution reports a number and amount of deposit 

and retirement accounts with balances greater than $250,000 of 1,000 and $500 

million, respectively, estimated uninsured deposits as calculated by the FDIC 

would equal $250 million ($500,000,000 – 1,000 * $250,000).

Failed/assisted institutions – An institution fails when regulators take 

control of the institution, placing the assets and liabilities into a bridge bank, 

conservatorship, receivership, or another healthy institution. This action may 

require the FDIC to provide funds to cover losses. An institution is defined as 

“assisted” when the institution remains open and receives assistance in order 

to continue operating.

Fair Value – the valuation of various assets and liabilities on the balance 

sheet—including trading assets and liabilities, available-for-sale securities, 

loans held for sale, assets and liabilities accounted for under the fair value 

option, and foreclosed assets—involves the use of fair values. During periods of 
QUARTERLY 2024 VOLUME 18, NUMBER 2

39 

market stress, the fair values of some financial instruments and nonfinancial 

assets may decline.

FHLB advances – all borrowings by FDIC-insured institutions from the Federal 

Home Loan Bank System (FHLB), as reported by Call Report filers, and by TFR 

filers prior to March 31, 2012.

Goodwill and other intangibles – Intangible assets include servicing rights, 

purchased credit card relationships, and other identifiable intangible assets. 

Goodwill is the excess of the purchase price over the fair market value of the 

net assets acquired, less subsequent impairment adjustments. Other intangible 

assets are recorded at fair value, less subsequent quarterly amortization and 

impairment adjustments.

Liquidity ratio – liquid assets to total assets. Liquid assets include cash, federal 

funds sold, securities purchased under agreements to resell, and securities 

(including unrealized gains/losses on securities) less pledged securities.

Loans secured by real estate – includes home equity loans, junior liens secured 

by 1-4 family residential properties, and all other loans secured by real estate.

Loans to individuals – includes outstanding credit card balances and other 

secured and unsecured consumer loans.

Long-term assets (5+ years) – loans and debt securities with remaining 

maturities or repricing intervals of over five years.

Maximum credit exposure – the maximum contractual credit exposure 

remaining under recourse arrangements and other seller-provided credit 

enhancements provided by the reporting bank to securitizations.

Mortgage-backed securities – certificates of participation in pools of 

residential mortgages and collateralized mortgage obligations issued or 

guaranteed by government-sponsored or private enterprises. Also, see 

“Securities,” below.

Net charge-offs – total loans and leases charged off (removed from balance 

sheet because of uncollectability), less amounts recovered on loans and leases 

previously charged off.

Net interest margin – the difference between interest and dividends earned 

on interest-bearing assets and interest paid to depositors and other creditors, 

expressed as a percentage of average earning assets. No adjustments are made 

for interest income that is tax exempt.

Net loans to total assets – loans and lease financing receivables, net of 

unearned income, allowance and reserves, as a percent of total assets on a 

consolidated basis.

Net operating income – income excluding discretionary transactions such as 

gains (or losses) on the sale of investment securities and extraordinary items. 

Income taxes subtracted from operating income have been adjusted to exclude 

the portion applicable to securities gains (or losses).

Noncurrent assets – the sum of loans, leases, debt securities, and other assets 

that are 90 days or more past due, or in nonaccrual status.

Noncurrent loans & leases – the sum of loans and leases 90 days or more past 

due, and loans and leases in nonaccrual status.
QUARTERLY 2024 VOLUME 18, NUMBER 2

40 

Number of institutions reporting – the number of institutions that actually 

filed a financial report.

New reporters – insured institutions filing quarterly financial reports for the 

first time.

Other borrowed funds – federal funds purchased, securities sold with 

agreements to repurchase, demand notes issued to the U.S. Treasury, FHLB 

advances, other borrowed money, mortgage indebtedness, obligations under 

capitalized leases and trading liabilities, less revaluation losses on assets held 

in trading accounts.

Other real estate owned – primarily foreclosed property. Direct and indirect 

investments in real estate ventures are excluded. The amount is reflected net 

of valuation allowances. For institutions that filed a Thrift Financial Report

(TFR), the valuation allowance subtracted also includes allowances for other 

repossessed assets. Also, for TFR filers the components of other real estate 

owned are reported gross of valuation allowances. (TFR filers began filing Call 

Reports effective with the quarter ending March 31, 2012.)

Percent of institutions with earnings gains – the percent of institutions that 

increased their net income (or decreased their losses) compared to the same 

period a year earlier.

“Problem” institutions – Federal regulators assign a composite rating to each 

financial institution, based upon an evaluation of financial and operational 

criteria. The rating is based on a scale of 1 to 5 in ascending order of supervisory 

concern. “Problem” institutions are those institutions with financial, 

operational, or managerial weaknesses that threaten their continued financial 

viability. Depending upon the degree of risk and supervisory concern, they are 

rated either a “4” or “5.” The number and assets of “problem” institutions are 

based on FDIC composite ratings. Prior to March 31, 2008, for institutions whose 

primary federal regulator was the OTS, the OTS composite rating was used.

Recourse – an arrangement in which a bank retains, in form or in substance, 

any credit risk directly or indirectly associated with an asset it has sold (in 

accordance with generally accepted accounting principles) that exceeds a pro 

rata share of the bank’s claim on the asset. If a bank has no claim on an asset it 

has sold, then the retention of any credit risk is recourse.

Reserves for losses – the allowance for loan and lease losses on a consolidated 

basis.

Restructured loans and leases – loan and lease financing receivables with 

terms restructured from the original contract. Excludes restructured loans and 

leases that are not in compliance with the modified terms.

Retained earnings – net income less cash dividends on common and preferred 

stock for the reporting period.

Return on assets – bank net income (including gains or losses on securities and 

extraordinary items) as a percentage of average total (consolidated) assets. The 

basic yardstick of bank profitability.

Return on equity – bank net income (including gains or losses on securities and 

extraordinary items) as a percentage of average total equity capital.
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Risk-weighted assets – assets adjusted for risk-based capital definitions which 

include on-balance-sheet as well as off-balance-sheet items multiplied by 

risk-weights that range from zero to 200 percent. A conversion factor is used 

to assign a balance sheet equivalent amount for selected off-balance-sheet 

accounts.

Securities – excludes securities held in trading accounts. Banks’ securities 

portfolios consist of securities designated as “held-to-maturity” (reported 

at amortized cost (book value)), securities designated as “available-forsale” (reported at fair (market) value), and equity securities with readily 

determinable fair values not held for trading.

Securities gains (losses) – realized gains (losses) on held-to-maturity and 

available-for-sale securities, before adjustments for income taxes. Thrift 

Financial Report (TFR) filers also include gains (losses) on the sales of assets 

held for sale. (TFR filers began filing Call Reports effective with the quarter 

ending March 31, 2012.)

Seller’s interest in institution’s own securitizations – the reporting bank’s 

ownership interest in loans and other assets that have been securitized, 

except an interest that is a form of recourse or other seller-provided credit 

enhancement. Seller’s interests differ from the securities issued to investors 

by the securitization structure. The principal amount of a seller’s interest is 

generally equal to the total principal amount of the pool of assets included 

in the securitization structure less the principal amount of those assets 

attributable to investors, i.e., in the form of securities issued to investors.

Small Business Lending Fund – The Small Business Lending Fund (SBLF) was 

enacted into law in September 2010 as part of the Small Business Jobs Act of 

2010 to encourage lending to small businesses by providing capital to qualified 

community institutions with assets of less than $10 billion. The SBLF Program 

is administered by the U.S. Treasury Department (https://home.treasury.gov/

policy-issues/small-business-programs/small-business-lending-fund).

Under the SBLF Program, the Treasury Department purchased noncumulative 

perpetual preferred stock from qualifying depository institutions and holding 

companies (other than Subchapter S and mutual institutions). When this stock 

has been issued by a depository institution, it is reported as “Perpetual preferred 

stock and related surplus.” For regulatory capital purposes, this noncumulative 

perpetual preferred stock qualifies as a component of Tier 1 capital. Qualifying 

Subchapter S corporations and mutual institutions issue unsecured subordinated 

debentures to the Treasury Department through the SBLF. Depository 

institutions that issued these debentures report them as “Subordinated notes 

and debentures.” For regulatory capital purposes, the debentures are eligible 

for inclusion in an institution’s Tier 2 capital in accordance with their primary 

federal regulator’s capital standards. To participate in the SBLF Program, an 

institution with outstanding securities issued to the Treasury Department under 

the Capital Purchase Program (CPP) was required to refinance or repay in full 

the CPP securities at the time of the SBLF funding. Any outstanding warrants 

that an institution issued to the Treasury Department under the CPP remain 

outstanding after the refinancing of the CPP stock through the SBLF Program 

unless the institution chooses to repurchase them.

Subchapter S corporation – A Subchapter S corporation is treated as a passthrough entity, similar to a partnership, for federal income tax purposes. It is 

generally not subject to any federal income taxes at the corporate level. This 

can have the effect of reducing institutions’ reported taxes and increasing their 

after-tax earnings.
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Trust assets – market value, or other reasonably available value of fiduciary 

and related assets, to include marketable securities, and other financial and 

physical assets. Common physical assets held in fiduciary accounts include real 

estate, equipment, collectibles, and household goods. Such fiduciary assets are 

not included in the assets of the financial institution.

Unearned income and contra accounts – unearned income for Call Report

filers only.

Unused loan commitments – includes credit card lines, home equity lines, 

commitments to make loans for construction, loans secured by commercial 

real estate, and unused commitments to originate or purchase loans. (Excluded 

are commitments after June 2003 for originated mortgage loans held for sale, 

which are accounted for as derivatives on the balance sheet.)

Yield on earning assets – total interest, dividend, and fee income earned on 

loans and investments as a percentage of average earning assets.