Fewer banks with fewer assets employed fewer people than they did a year ago, and even though those banks are still losing money, they're not losing as much as they did in the third quarter of 2009, the Federal Deposit Insurance Corp. reported Tuesday in its quarterly state banking outlook.
According to the FDIC:
The agency insured 82 institutions in Washington during the third quarter of 2010; that’s 13 fewer than the 95 institutions insured at the end of September last year.
The banks employed 13,527 workers in the latest count, down from 14,970 the year before.
Total deposits were $53,061,000,000, down from $59,610,000,000.
Total year-to-date net income, negative - $259 million this year, was still less than the negative -$1.351 billion recorded the year before.
As net income looked brighter, so did the ratio of nonperforming assets, or bad loans, to all assets. This year, 5.8 percent of loans were in trouble; a year ago, the figure had risen to 7.54 percent.
As overall conditions improve, the percentage of unprofitable institutions has been reduced. This year, at the end of the quarter, 45.12 percent of banks in the state were losing money; a year ago, the FDIC reported that 61.05 percent of banks were unprofitable.