The following is an excerpt from the August 28 issue of The Wichita Eagle. Rick LeCompte, a Wichita State University finance professor, contributed to the article.
State's banks fitter than nation's
Aug 28, 2008 8:35 AM | Print
Kansas banks had a disappointing first six months, but it was a lot better than banks nationwide.
That's according to a report this week by the Federal Deposit Insurance Corp.
Kansas banks' net income was $295 million in the first half of 2008, compared with $324 million in the same period a year ago, according to the FDIC's State Banking Performance Summary.
That's a 9 percent decrease.
Nationally, banks' net income fell 53 percent when comparing the first six months of 2007 and 2008.
Kansas banks also had a better pre-tax return on assets than national banks.
Pretax ROA -- a standard bank performance measure that shows how much money a bank earns for each $100 it has in assets -- for Kansas banks was 1.38 percent in the first half of the year.
For national banks it was 0.77 percent.
"Return on assets is still above 1 (percent), which is good," said Rick LeCompte, a Wichita State University finance professor.
Permits to be required to park on main campus
High School Guest Program offering $500 scholarships
Collaboration to benefit WSU students
WSU, WuShock logo at IndyCar Series
WSU camps introduce youth to engineering
Shuttle system adds new stops
WSU names new director of AEGD program
WSU reorganizes admin structure
WSU hosting ACT Prep Workshop
New Health Professions dean honored
Wichita State welcomes FarmHouse fraternity to campus
WSU grad overcame tragedy to earn her degree
Flint Hills Media Project covers Butler County
WSU to host forums for returning adults
'Forty Years/Forty Stories' at WSU museum