WASHINGTON — Banks and thrifts had their best performance in almost three years during the second quarter, earning $21.6 billion, a 16% jump from a quarter earlier, the Federal Deposit Insurance Corp. said Tuesday.
The FDIC, which presented its Quarterly Banking Profile, said banks benefited from reduced loan-loss provisions. While still adding a historically high provision of $40 billion, the agency said it was the lowest increase since the first quarter of 2008 and 40% below the year-earlier provision.
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