The Nebraska banking industry is continuing to sound like a broken record -- as in broken profit record.
The state's banks earned a combined $285 million in the second quarter, according to the Federal Deposit Insurance Corp., which was the most ever for a second quarter and the second-highest quarterly profit ever recorded.
Compared with the second quarter of last year, earnings were up nearly 11%.
That was considerably better than banks nationally, which saw their collective profit rise 4.1%.
Community banks, which the FDIC defines as those with assets of less than $10 billion, saw their incomes rise 8.1%. All but one bank headquartered in Nebraska qualifies as a community bank.
For the year, the state's banks have earned $539 million, up from $488 million at the same time last year.
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In addition to earnings growth, the state's banks showed strong performance across the board, with an increase in deposits, net interest margin and yields on assets. Also, only 1.2% of the state's banks lost money in the second quarter, down from 2.9% in the second quarter of 2018.
Lincoln-based banks did not fare as well, however.
The nine banks that are based in the city collectively earned $40.1 million in the second quarter, which was down 26% from the $54.3 million they earned in the second quarter of 2018.
Five of the nine banks saw their earnings increase compared with a year ago, but three of the four that didn't combined to see an earnings decline of more than $16 million.