Despite the strong economy, more U.S. banks lost money in the first quarter of 1999 than at any time since 1993, according to an analysis of the Federal Reserve Board's June 15 release of call-report data from the nation's banks. The analysis, conducted by bank-research firm Veribanc Inc., of Wakefield, Mass., revealed that 536 of all 9,263 U.S. banks lost money between January 1 and the end of March. And the percentage of banking institutions reporting net losses was higher than at any time since the crisis year of 1992.

First-Quarter Losses,
1992-1999
YEAR TOTAL
NUMBER OF
U.S. BANKS
% OF U.S.
BANKS WITH
NET LOSSES
1999 9,263 5.79%
1998 9,588 4.32%
1997 10,041 3.87%
1996 10,433 3.26%
1995 10,849 3.38%
1994 11,457 4.25%
1993 12,392 4.70%
1992 13,012 6.57%
Source: Veribanc Inc., Wakefield, Mass., 1999.