Average net interest margin reached its highest level since late 2012 as banks continued to benefit from rate hikes.
An FDIC survey shows the industry is benefiting from increasing net interest margins, which reached an average of 3.22% in Q2.
The number of financial institutions on the FDIC’s “problem list” fell to the lowest level in more than seven years.
The industry posted "another positive quarter," the FDIC says, but faces continued challenges including low interest rates.
A draft proposal by three agencies seeks to boost cyber defenses and reduce the impact on the financial system of an attack.
Results were "mostly positive," the FDIC said, with profits rising 1.4% and the number of problem banks falling to a 7-year low.
The industry's first-quarter results were mixed, with loan balances growing at the highest rate since 2009 and operating revenue up 2.7%.
The firms now have until Oct. 1 to show they can survive a financial collapse without a taxpayer bailout.
