U.S. banks report profit uptick in first quarter: FDIC
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People walk around the Financial District on the morning after Zohran Mamdani’s election win in New York City, U.S., November 5, 2025. REUTERS/Angelina Katsanis
By Pete Schroeder
WASHINGTON, May 27 (Reuters) - U.S. banks reported a 3.6% increase in their profits in the first quarter of 2026, rising to $80.5 billion as domestic deposits grew again and banks set aside slightly more against potential losses, the Federal Deposit Insurance Corporation reported Wednesday.
The FDIC reported that bank deposits had risen for the seventh consecutive quarter, and while bank provision expenses were up 2.3% in the first quarter, they were lower than a year prior.
The FDIC said asset quality metrics remained favorable, with the level of past due loans falling slightly. However, it noted that past due levels for residential loans and commercial real estate rose slightly, and levels remained elevated for loans for credit cards, autos, and multifamily commercial real estate.
FDIC Chairman Travis Hill said in a statement that bank capital and liquidity levels remained strong.
(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)
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