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Missouri banks record net loss in second quarter

Friday, August 28, 2009 | 2:56 p.m. CDT; updated 3:57 p.m. CDT, Friday, August 28, 2009

KANSAS CITY — Missouri banks recorded a net loss in the second quarter of 2009, while the state's savings and loans turned a profit.

The Federal Deposit Insurance Corp. said Missouri's commercial banks reported a combined loss of $67 million for the period ending June 30. By comparison, the banks earned $152 million during the same period a year ago.

The state's savings and loans reported earning $11 million, compared with an $8 million loss a year ago.

The percentage of unprofitable commercial banks rose from 14 percent to almost 22 percent, while the percentage of unprofitable thrifts increased from 20 percent to 25 percent.

Nationally, banks lost $3.7 billion during the quarter.

 


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