More area banks improved first quarter results than not
First-quarter results from 15 area banks provide further evidence that the banking sector is recovering, slowly but surely, according to call reports and uniform bank performance reports from the Federal Deposit Insurance Corp.
Banks that have increased their total assets from first-quarter 2010 to first-quarter 2011 just slightly outnumbered those that didn't, brightening the glimmer of hope surrounding the industry recently.
Nine area banks have increased their total year-over-year assets, while call reports show six decreasing their year-over-year numbers.
Acting Colorado Banking Commissioner Fred Joseph said that he saw some improvement in the 80 state-chartered banks overseen by the Colorado Division of Banking, but that some of the changes could be attributed to a particular bank's business model.
“But I am seeing some general improvement in the economy, and some improvement in portfolios,” Joseph said.
This improvement, however gradual, is due in part to more real estate being sold, and more
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