Banks in the state of Florida were lending money out a faster rate than banks across the nation in the second quarter of the year. The total loans outstanding held by Florida’s 168 banks in the second quarter rose to $121.1 billion, which was up from $118 billion in the first quarter for an increase of 2.9 percent. The national average over the same period was just 2.2 percent. The improved figures occurred despite a fall in the number of Florida banks to 168, seven less than in the first three months of 2015, and they reported profits of $347 million, up from $236 million in first quarter.
According to the Federal Deposit Insurance Corp., banks earned a collective profit of $43 billion in the second quarter, the highest quarterly income on record. “Bankers generally reported another quarter of higher earnings, improved asset quality, and increased lending,” FDIC Chairman Martin J. Gruenberg said. “There were fewer problem banks, and only one bank failed during the second quarter.
