WASHINGTON -- U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years, and the number of troubled banks fell for the fourth-straight quarter, according to a report by the Federal Deposit Insurance Corp.
The mostly positive first-quarter earnings released Thursday illustrate how far the banking industry has come since the 2008 financial crisis. Still, the report noted that many banks remain cautious about lending, a necessary driver of economic growth.
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