Conditions getting better at banks in Washington, according to FDIC

Life is improving for bankers in Washington, the Federal Deposit Insurance Corp. reported Tuesday.

In its first-quarter report on the performance of all insured institutions in the state, the agency provided data showing the state of state banks to be solid and improving.

Among the data released Tuesday:

▪  The number of banks operating in the state — both state-chartered and otherwise — has fallen from 58 at the end of the first quarter in 2015 to 52 operating at the end of March 2016.

▪  Over the year, total assets have risen to $67.6 billion from $65.5 billion.

▪  The total number of workers employed by FDIC-insured banks in Washington rose from 13,412 to 13,753, but remains well below the figure recorded in the first quarter of 2014, at 15,080.

▪  Total deposits have risen to $54.6 billion from $52.8 billion.

▪  The ratio of unprofitable to profitable institutions has dropped from 12.07 percent at the end of the first quarter last year to 1.92 percent this year.

▪  The ratio of institutions with earnings gains rose to 73.08 percent from 67.24 percent.

This story was originally published June 7, 2016 at 2:50 PM with the headline "Conditions getting better at banks in Washington, according to FDIC."