Banks headquartered in Maryland posted combined profits of $172 million, up from $142 million in the same quarter last year, according to the Federal Deposit Insurance Corp.
Lending and leases grew 10 percent to $28.5 billion, up from $25.8 billion last year. Deposits increased by more than 5 percent to $30 billion.
While profits rose, the number of banks in Maryland continued to decline. The number of FDIC-insured banks decreased from 67 a year ago to 57 as smaller banks continue to get acquired by larger institutions. The number of full-time bank employees in the state dropped from 6,574 to 6,465.
Total assets in the second quarter were $37.1 billion, an increase of 6 percent from $35 billion a year ago.
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1 comment:
I hear nothing about giving savings accounts a decent interest rate like 5%. This appears to be another screw the depositors and let us get richer on their money.
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