Nebraska Banks Already Set Annual Profit Record | Nebraska

Nebraska banks had their weakest quarter of the year in the third quarter, but it was still good enough to break the annual profit record after just nine months.

State banks earned $ 342 million in the third quarter, according to statistics released Tuesday by the Federal Deposit Insurance Corp., compared to $ 409 million in the second quarter and $ 352 million in the first quarter. Compared to the third quarter of 2020, however, profits increased by more than 10%.

State-headquartered banks have now earned just over $ 1.1 billion this year, already breaking last year’s record of $ 1.032 billion. This is the fourth year in a row that state bank profits have exceeded $ 1 billion.

The nine Lincoln-headquartered banks earned nearly $ 62.2 million in the third quarter, nearly 10% more than the same period last year.

Local and state results lagged behind national results, which saw banks earn $ 69.5 billion overall in the third quarter, nearly 36% more than a year ago. Community banks – those with less than $ 10 billion in assets – have seen their profits increase by almost 20%. All of the banks in Nebraska except the First National Bank of Omaha have less than $ 10 billion in assets.

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