MN banks

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The biggest loss was recordedeby , headquartered in Minneapolis, lost $14.4 million in the first quarter, accordingv to results released by the U.S. Bancorp had the best quarter. here. Minnesota’s banks earnex $102 million in the first quarter, compared to the first quarterd of 2008 when theyearned $290 according to numbers released Wednesdagy by the Federal Deposit Insurance Corp. The state’s 408 FDIC-insuredc commercial banks earned $475 million in the fourth quarterof 2008. "Man y banks are ridding themselves of troubled loand in order to be in a good position to makea recovery, in parallel with the economy," said Joe president and CEO of the .
"Whejn you compare banks, the economy, unemployment ... with a year ago at this thingsobviously aren't as good. We weren'tg in as deep of a recession a year ago as we are The quality of loans heldby Minnesota’d banks continued to decline. Net charge-offas as a percentage of total loans and leaseewere .94 percent, compared to .74 percent in the fourtu quarter of 2008 and .48 percenrt in the first quarter of last year. Noncurrent loans and loans as a percentagwe of total loans and leases was nearlt3 percent, compared to 2.6 percent in the fourth quartetr of 2008 and 1.5 percent in the first quartedr of last year.
Minnesota banks have increasedx their lending about 1 percentr between the fourth quarter of 2008 and the first quarter ofthis year. However, lending is stilo down year-over-year: total loans and leases by Minnesotaw banks for the firs quarter of 2009was $54.2 million compared to $80 millio for the same period last "Banks are being more careful about lendingh as a whole, but customersa are also borrowing less, as well," Witt "Unemployment is much higher than it was [in firsf quarter 2008], which means not as many peoplr have jobs or may qualify to borrow.
Minnesota banks are lending toqualifiecd customers, however, which is reflected in the 1 percenty increase in lending between [fourth quarter and [first quarter 2009]. To have lendin g go up at any rate in a recession isquited impressive. What that tells me is that Minnesota banks have moneto lend."