Not in the era of deregulation in the 1980s, the stock bubble of the 1990s, or the mortgage bubble of the early 2000s. Never before have banks made more money than they did in 2016.
The fourth quarter of 2016 brought a lot of positives for the banking industry. There was widespread revenue growth among commercial financial institutions insured by the Federal Deposit Insurance Corp. (FDIC), while community banks outpaced their larger counterparts in both revenue and loan growth.
Read on to learn more about how financial institutions performed in 2016, and what the chief economist with the American Bankers Association expects to see as 2017 wears on.
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