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Maryland banks post highest profit in five years
Maryland banks saw their profit nearly double in 2012, posting the highest yearly total since 2007 and further signaling the state’s banking industry is on the rise after the recession.
The state’s 80 banks insured by the Federal Deposit Insurance Corp. posted a profit of $164 million in 2012, up from $84 million in 2011, according to FDIC data released Tuesday. There were 84 state banks in 2011 and 97 in 2007, by comparison.
The banks had total assets of $33.7 billion in 2012, up from $32.9…
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