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Nebraska banks have already set yearly profit record

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Nebraska banks had their weakest quarter of the year in the third quarter, but it was still good enough to break the annual profit record after just nine months.

The state's banks earned a combined $342 million in the third quarter, according to statistics released Tuesday by the Federal Deposit Insurance Corp., down from $409 million in the second quarter and $352 million in the first quarter. Compared with the third quarter of 2020, however, profits were up more than 10%.

Banks headquartered in the state have now made more a little more than $1.1 billion this year, which has already surpassed last year's record of $1.032 billion. It's the fourth year in a row state bank profits have topped the $1 billion mark.

The nine banks headquartered in Lincoln earned nearly $62.2 million in the third quarter, which was almost 10% more than in the same period last year.

The local and state results lagged national results, which saw banks overall earn $69.5 billion in the third quarter, nearly 36% more than a year ago. Community banks -- those with less than $10 billion in assets -- saw their profits rise nearly 20%. Every bank in Nebraska except for First National Bank of Omaha has less than $10 billion in assets.

Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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