Oregon banks slowly recovering

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Monday, June 04, 2012

Oregon's banks are slowly returning to good health, and most are profitable again.

"We are guardedly optimistic that we are seeing improvements in the banking industry overall," said David Tatman, administrator for the Oregon Division of Finance and Corporate Securities, which regulates the state's banks. "What we're seeing in banks reflects the economy. The economy is improving quite slowly and banks are improving fairly slowly."

Oregon has 29 state-chartered banks, down from 36 in 2006, but still more than it had a decade ago. During the first quarter of this year, 25 of them posted a profit, the most since 2008. The amount of money they've set aside as protection against loan losses is at the lowest level in two years.

Read more at OregonLive.com.

{biztweet}oregon bank{/biztweet}

 

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