“So far, 2011 has been the best year for Kansas banks – at least in terms of earnings – since the financial crash of late 2008”… writes Chris Moon in the Wichita Business Journal.
The state’s 324 banks and thrifts report $234 million in earnings through the first six months of 2011 … according to the Federal Deposit Insurance Corporation. That’s up from $87 million in earnings the same period of last year and $108 million the first six months of 2009. You have to go back to 2008 … before the financial markets collapsed – to find a better performance by the state’s banks; $329 million in earnings during the first six months of that year.
The percentage of Kansas banks not showing a profit has dropped from 17% last year to 9% this year.
Chris Moon reports that loans are still “hard to come by”. The collective loan portfolios for the state’s banks dropped from $37.4 billion last year to $34.6 billion this year.
Our thought for today is from Thomas Jefferson:
“I believe that banking institutions are more dangerous to our liberties than standing armies.”