State Banks’ Earning Drop; 119 Jobs Lost
July 6, 2009
By MoneyAisle
The Hartford Business Journal reports that banks and other financial institutions in the state saw a 36 percent drop in net income and 119 jobs lost in the first quarter of the year.
“Net income in Connecticut’s 58 federally insured financial institutions dropped to $72 million in the first quarter of 2009 from $112 million a year earlier, according to the Federal Deposit Insurance Corp.”
Despite the poor performances, banks and financial institutions in the Northeast region have been doing better than those in other areas of the country.