Net return at Colorado's federally insured commercial banks level 26 percent in the initial zone of the year, to $102 million, as the mass of and shin-plasters set aside for bad loans surged nearly 75 percent, according to information released Thursday by the Federal Deposit Insurance Corp. (FDIC). The locale was nearly the same across the nation. "Deteriorating strength eminence concentrated in actual estate loan portfolios continued to quarter a toll on the earnings carrying-on of many insured institutions in first direction 2008," FDIC officials said in a statement.
"Higher deprivation provisions were the unadulterated reason that industry salary for the quarter totaled only $19.3 billion, compared to $35.6 billion a year earlier.
" Larger Colorado banks -- those with thorough assets of $100 million or more -- set aside far more for advance losses in the sooner house than did smaller Colorado banks. Loan-loss provisions at the big banks totaled $276 million in the principal quarter, compared with $149 million in the same territory of 2007. Smaller banks, or those with less than $100 million in assets, provisioned less in the most late-model humanity -- just under $150 million, compared with nearly $265 million a year earlier.
Return on assets, a barometer of bank performance, floor to 0.85 percent in the maiden section from 1.26 percent a year earlier. Colorado's 11 federally insured savings institutions earned $3 million in the earliest quarter, compared with $4 million a year earlier.
Six institutions with less than $100 million in assets distracted $2 million, while five institutions with more than $100 million in assets earned $5 million. Colorado savings institutions provisioned $170 million for credit losses in the January-through-March quarter, down from $186 million a year earlier.
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