ABA Statement on FDIC’s Quarterly Banking Profile

“The FDIC's latest Quarterly Banking Profile shows that the banking industry has remained resilient while continuing to serve as a critical economic driver. Deposits increased at banks of all asset sizes in the quarter, and loan growth continued as banks supported their business and consumer customers.

“While the FDIC’s special assessment drove a decline in net income in the fourth quarter, the industry maintained positive year-over-year revenue growth. Even as delinquencies continued to normalize to historical levels, asset quality for the industry remained sound. Banks took prudent steps to increase loan-loss provisioning to ensure preparedness if the economy were to slow.

“Banks remain well capitalized and well-positioned to continue supporting their customers even in the face of some economic headwinds.”