Alabama banks improve in first quarter
July 6, 2009
By MoneyAisle
According to the Birmingham Business Journal, banks in the state of Alabama have collectively made a profit in the first quarter of 2009.
“Commercial banks operating across the state reported a total of $31 million in net income for the quarter ended March 31 – a drastic improvement from more than $6.6 billion in losses in the fourth quarter, according to the Federal Deposit Insurance Corp.”
Additionally, compared with two quarters ago, the percentage of institutions that are unprofitable has decreased from 21.62 to 19.73.