Hard-hit banks in Arizona show signs of stabilization

Arizona's hard-hit banking sector is showing signs of stabilization but still lags the national industry in several key measures with no strong upturn in sight. New figures from the Federal Deposit Insurance Corp. portray a local industry that has shrunk over the past year because of failures, consolidations, loan write-offs and dwindling deposits and more - and an industry that remains relatively unhealthy. Yet the surviving banks chartered or licensed here have stabilized in some performance measures such as return on assets and non-performing assets. Nationally, the FDIC reported the banking industry made $21.6 billion in aggregate profits in the second quarter, reversing a $4.4 billion loss a year earlier and representing the best quarterly result in nearly three years.

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