WASHINGTON (5/28/15)--Commercial banks and savings institutions insured by the Federal Deposit Insurance Corp. (FDIC) saw net income climb $2.6 billion to $39.8 billion on an annual basis in the first quarter, the FDIC said this week in its Quarterly Banking Profile. The bump was driven by a $4.3 billion jump in net operating revenue, which climbed 2.6% to $168.4 billion on an annual basis for the quarter. “On balance, results from the first quarter reflect an improving banking industry with stronger community banks,” said Martin J. Gruenberg, FDIC chair. Of the 6,419 insured institutions in the first quarter of 2015, nearly two-thirds reported year-over-year growth in earnings. Further, the percentage of banks that were unprofitable during the first quarter dropped to 5.6% from 7.4% on an annual basis. “Revenue, earnings, and loan balances were up; asset quality continued to improve; and the number of banks on the ‘Problem List’ declined to the lowest level in more than six years,” Gruenberg said ...