In Iowa, loan quality remained strong. Net loan charge-offs ended the year at 0.15 percent of total loans, compared with 0.19 percent the year prior. Other loan quality indicators, such as noncurrent and nonperforming loans also improved. Noncurrent loans were down to 0.65 percent of total loans from 0.83 percent last year. Nonperforming loans declined to 0.62 percent of total loans from 0.78 percent. Iowa banks also reduced the number of properties acquired through foreclosures.
Net income for Iowa banks was $848.8 million, up 4 percent from last year to $813 million. Return on assets, another indicator of overall bank performance, edged up to 1.15 percent from 1.13 percent at the end of 2013. Total assets reached $75.9 billion in 2014. Iowa's banks also reported holding just under $80 billion in assets as of Dec. 31, compared to holding $73 billion in assets at the end of 2013.
Iowa Banks Performance Q4 2014
Nationally, bank net income for 2014 declined slightly to $152.7 billion from $154.4 billion from, driven in part by a decline in mortgage loan demand and a few major banks having to pay larger litigation expenses.