ABA Statement on FDIC’s Quarterly Banking Profile

"The latest FDIC Quarterly Banking Profile shows the banking industry remains healthy and resilient while continuing to serve as a source of strength for our nation's economy. Lending grew for the second consecutive quarter at banks of all sizes to $12.6 billion, and the aggregate Tier 1 capital ratio reached a record high as banks prudently provisioned to manage risks, maintaining a substantial capital buffer to absorb any potential losses.

"The industry's net interest income and net interest margin increased in the third quarter, while asset quality remained healthy. The 1.1% increase in deposits was driven by growth in transaction accounts and basic savings accounts at banks across the country.

"Heading into the new year, America's banks are well capitalized, highly liquid and are well-positioned to support their customers and bolster the economy."

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $23.9 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.