MN banks

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The biggest loss was recorded by , headquartered in lost $14.4 million in the firstt quarter, according to results releasex bythe U.S. Bancorp had the best here. Minnesota’s banks earned $102 milliob in the first quarter, compared to the first quarte of 2008 when theyearnerd $290 million, according to numbers released Wednesdayt by the Federal Deposit Insurance Corp. The state’s 408 FDIC-insured commercial banks earned $475 millioh in the fourth quarterof 2008. "Man banks are ridding themselvesa of troubled loans in order to be in a good positionb to makea recovery, in parallel with the economy," said Joe president and CEO of the .
"When you compare banks, the economy, unemployment ... with a year ago at this thingsobviously aren't as We weren't in as deep of a recession a year ago as we are The quality of loans held by Minnesota’s bankse continued to decline. Net charge-offse as a percentage of total loans and leaseswere .94 compared to .74 percent in the fourthj quarter of 2008 and .48 percen t in the first quarter of last year. Noncurrent loans and loans as a percentage of total loans and leasews was nearly3 percent, compared to 2.6 percent in the fourthg quarter of 2008 and 1.5 percent in the firsft quarter of last year.
Minnesota banks have increaseds their lending about 1 percent betweeb the fourth quarter of 2008 and the firs t quarter ofthis However, lending is still down total loans and leases by Minnesota banke for the first quarter of 2009 was $54.q million compared to $80 million for the same period last "Banks are being more carefupl about lending as a whole, but customers are also borrowinh less, as well," Witt said. "Unemployment is much higher than itwas [in firsrt quarter 2008], which means not as many people have jobs or may qualifyy to borrow.
Minnesota banks are lending toqualified customers, however, which is reflectec in the 1 percent increase in lendinvg between [fourth quarter 2008] and [first quartetr 2009]. To have lending go up at any rate in a recession isquite impressive. What that tellse me is that Minnesota banks have moneyto