Freedom Bank Chair and CEO Ortega Joins FDIC’s Minority Depository Institutions Subcommittee

On April 24, the Federal Deposit Insurance Corporation (FDIC) announced four new members of its minority depository institutions (MDI) subcommittee to the advisory committee on community banking. Arturo “Art” Ortega, chairman and CEO of Alamo-based Freedom Bank, is one of the four named to the subcommittee, along with John Tom Anderson, president and CEO of … Read more

FDIC-Insured Institutions Reported Net Income of $76.8 Billion in First Quarter 2021

Reports from the commercial banks and savings institutions insured by the Federal Deposit Insurance Corp. (FDIC) reflect aggregate net income of $76.8 billion in first quarter 2021, an increase of $58.3 billion (315.3 percent) from a year ago. Aggregate negative provision expense, reflecting improvements in the economy and asset quality, drove the increase in quarterly … Read more

FDIC Releases 2020 Community Banking Study

In mid-December, the Federal Deposit Insurance Corp. (FDIC) released the 2020 Community Banking Study, a new large-scale study on the state of the nation’s community banks. The study finds community banks played a critical role in providing access to credit in several key areas of the U.S. economy, particularly through lending to support commercial real … Read more

FDIC Issues Report on the Importance of Community Banks in Paycheck Protection Program Lending

An analysis of call report data from FDIC-insured banks finds that community banks are playing a vital role in supporting small businesses through the Small Business Administration’s Paycheck Protection Program (PPP). Community banks hold nearly a third of all bank-held PPP loans, compared to holding only 15 percent of all bank loans, according to a … Read more

FDIC Launches Academic Challenge Focused on Community Banking

On September 18, the Federal Deposit Insurance Corp. (FDIC) announced the launch of the agency’s first-ever Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector. The topic for this inaugural challenge is “The Effects of Community Banks on Local Economic Development.” The FDIC’s Center for … Read more