Bank profits fare well in Q3

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We're grown accustomed to thinking about banks as a beleaguered bunch. That's certainly true when discussing the bulge-bracket banks that dominate the headlines. But the banking industry as a whole has fared decently as of late. FDIC-insured commercial banks and savings institutions reported $37.6 billion in third quarter earnings, up from $35.2 billion a year ago. This marks the highest quarterly net income reported by the industry since the third quarter of 2006, according to Zack's. Article