U.S. Banking Industry Earnings 1Q 2012: Banking Industry Posts Profits Since Before Financial Crisis

http://www.huffingtonpost.com/2012/05/24/us-banking-industry-earnings-1q-2012_n_1542450.html

The U.S. banking industry for the first quarter reported its highest quarterly earnings since the first half of 2007, but there remain signs that the industry is having trouble fully recovering from the financial crisis, according to data released on Thursday by the Federal Deposit Insurance Corp.

The FDIC quarterly report showed the industry earned $35.3 billion in the first quarter, up $6.6 billion, or 22.9 percent, from a year earlier. However, the increase was largely due to banks setting aside less money to guard against loan losses.