In addition, there are another 43 US Banks with Pretax Income or Loss of more than $200 mil in any of the most recent three years. I'll call these 43 Banks here below "Large"
And there are another 24 US Banks, excluding any headquartered in either New York or Texas, with Pretax Income of Loss of more than $100 mil and also less than $200 mil in a year. I'll call these 24 Banks here below "Smaller".
The absolutely amazing thing is that by wise actions by both the Obama Administration and Fed Chairman Ben Bernanke, so many of these 75 US banks of all sizes were resurrected from free fall as a result of the devastating financial meltdown which occurred toward the end of the Bush/Cheney Presidency.
The 8 Huge US Banks had their Total Pretax Income from 2009 of $49.5 bil spike up to $94.6 bil in 2011, are up a very robust 92%.
And the 24 Smaller US Banks did even better, with their Total Pretax Income of $8.8 bil in 2009 increase even more robustly in 2011 to $19.6 bil, or an increase of an even stronger 123%.
But that's nothing as compared with the 43 US Large Banks, which had their Total Pretax Loss in 2009 of $5.0 bil, completely and dramatically turn around to a Total Pretax Income in 2011 of $34.4 bil, for an increase of an off-the-charts 782%. Whew!
All of these earnings increases were much more pronounced in 2010 than in 2011.
In fact, the 8 Huge US Banks had their 2011 Total Pretax Income increase by only 1% over 2010. The drag on this 2011 earnings growth was the Merrill Lynch portion of Bank of America, which contributed $8.5 bil of earnings decline, which was more than all of Bank of America's Total Pretax Income decline of $8.1 bil.
And it wasn't just Merrill Lynch. Another investment bank, Goldman Sachs, had its 2011 Total Pretax Income decline by $6.7 bil.
The Huge US Bank big winners in 2011 earnings growth were GE Capital, US Bancorp and Wells Fargo.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Intangible Asset Impairments, and Gains on Acquisitions (Wow, how did the FASB ever come up with that one?)
The 2011 total earnings growth over 2010 of the 43 Large Banks of a superb 36%, was much better than the 1% growth of the 8 Huge Banks.
But the 24 Smaller Banks did even better. They experienced 2011 total earnings growth of an even more superb 58%.
When you add together all of these 75 US Banks, their Total Pretax Income in 2011 of $132.0 bil, increased 9% over 2010, and nearly tripled, with a spectacular increase of 193% over 2009's Total Pretax Income of $45.1 bil.
The executives, the Board of Directors, all the employees, and all the stockholders and debtholders of these US Banks should be extremely thankful for what the Obama Administration and Fed Chairman Ben Bernanke did to substantially enhance their bank's financial strength and earnings performance. You hear a lot of grief from them about US government over-regulation, but what ever happened to the thanks?
Evansville, Ind-based Old National Bancorp was the only US company in the Banking category to be named one of the World's Most Ethical Companies for 2012 by the Ethisphere Institute.
Below here is the Pretax Income (PTI) or Pretax Loss (PTL) of these 75 US Bank Corps for each of the most recent three years.
| Obama | |||||
| Bump | |||||
| PTI | PTI | ||||
| 1 Year | 2 Year | ||||
| PTI | PTI | PTI | % | % | |
| 2011 | 2010 | 2009 | Change | Change | |
| mils $s | mils $s | mils $s |
| Financial | |||||
| US Big 8 Financial | |||||
| JPMorgan Chase | 26,749 | 24,859 | 16,067 | 8% | 66% |
| Wells Fargo | 23,656 | 19,001 | 17,998 | 24% | 31% |
| Citigroup | 14,624 | 13,184 | (10,199) | 11% | 243% |
| GE Capital | 7,660 | 2,225 | (2,467) | 244% | 410% |
| US Bancorp | 6,629 | 4,200 | 2,632 | 58% | 152% |
| Goldman Sachs | 6,169 | 12,892 | 19,829 | -52% | -69% |
| Morgan Stanley | 6,114 | 6,231 | 1,130 | -2% | 441% |
| Bank of America | 2,954 | 11,077 | 4,360 | -73% | -32% |
| Total all 8 | 94,555 | 93,669 | 49,350 | 1% | 92% |
| US National/Regional Banks | |||||
| PTI(L) >$200 mil | |||||
| Capital One Fincl | 4,587 | 4,330 | 1,336 | 6% | 243% |
| PNC Financial | 4,069 | 4,061 | 2,149 | 0% | 89% |
| Bank NY Mellon | 3,617 | 3,694 | (2,208) | -2% | 264% |
| State Street Corp | 2,536 | 2,086 | 2,525 | 22% | 0% |
| Fifth Third Bancorp | 1,831 | 940 | (991) | 95% | 285% |
| BB&T | 1,628 | 969 | 1,036 | 68% | 57% |
| SantanderHoldngsUS | 1,523 | 1,019 | (1,123) | 49% | 236% |
| Key Corp | 1,345 | 793 | (2,057) | 70% | 165% |
| M&T Bank | 1,225 | 1,093 | 519 | 12% | 136% |
| Unionbancal | 1,081 | 793 | (226) | 36% | 578% |
| Northern Trust | 884 | 990 | 1,255 | -11% | -30% |
| SunTrust Banks | 739 | 21 | (1,699) | 3419% | 143% |
| NY Community Banc | 735 | 837 | 453 | -12% | 62% |
| Huntington Banc | 707 | 352 | (1,071) | 101% | 166% |
| HSBC USA | 682 | 1,445 | (265) | -53% | 357% |
| Hudson City Banc | 646 | 892 | 874 | -28% | -26% |
| FirstRepublicBank | 555 | 470 | 606 | 18% | -8% |
| Comerica | 530 | 315 | (115) | 68% | 561% |
| Zions Bancorp | 521 | (403) | (1,557) | 229% | 133% |
| BOK Financial | 448 | 372 | 311 | 20% | 44% |
| Regions Financial | 414 | (844) | (1,268) | 149% | 133% |
| SVB Financial | 402 | 198 | 46 | 103% | 774% |
| East West Bancp | 383 | 256 | (366) | 50% | 205% |
| Commerce Banc | 381 | 318 | 242 | 20% | 57% |
| PeoplesUnitedFincl | 296 | 127 | 144 | 133% | 106% |
| CullenFrost Bankers | 286 | 266 | 233 | 8% | 23% |
| Signature Bank | 267 | 176 | 104 | 52% | 157% |
| First Niagara | 262 | 212 | 120 | 24% | 118% |
| City National | 254 | 161 | 50 | 58% | 408% |
| Bank of Hawaii | 227 | 260 | 222 | -13% | 2% |
| Webster Fincl | 207 | 85 | (131) | 144% | 258% |
| Bank United | 199 | 193 | 313 | 3% | -36% |
| Intl Bancshares | 191 | 201 | 221 | -5% | -14% |
| ETrade Fincl | 185 | (3) | (816) | 6267% | 123% |
| Associated Banc | 183 | (41) | (285) | 546% | 164% |
| TCF Financial | 179 | 244 | 144 | -27% | 24% |
| First Horizon Natl | 150 | 52 | (406) | 188% | 137% |
| PacificCapitalBanc | 70 | (150) | (346) | 147% | 120% |
| BFC Financial | 45 | (146) | (325) | 131% | 114% |
| Sterling Fincl | 39 | (224) | (583) | 117% | 107% |
| CentralPacficFincl | 37 | (148) | (284) | 125% | 113% |
| Synovus Fincl | (60) | (849) | (1,606) | 93% | 96% |
| BankAtlanticBanc | (68) | (145) | (221) | 53% | 69% |
| Total all 43 | 34,418 | 25,268 | (5,046) | 36% | 782% |
| Smaller US Banks | |||||
| PTI(L) $100-200 mil | |||||
| Valley Natl Bank | 197 | 187 | 168 | 5% | 17% |
| Fulton Financial | 196 | 173 | 89 | 13% | 120% |
| Washington Federal | 174 | 123 | 76 | 41% | 129% |
| Cathay General Banc | 172 | 12 | (129) | 1333% | 233% |
| First Merit | 166 | 140 | 108 | 19% | 54% |
| FirstCitizensBanc | 160 | 168 | 79 | -5% | 103% |
| Trustmark | 149 | 143 | 137 | 4% | 9% |
| UMB Financial | 146 | 127 | 120 | 15% | 22% |
| Republic Bancorp | 144 | 98 | 66 | 47% | 118% |
| Investors Banc | 125 | 99 | 59 | 26% | 112% |
| WestAmerica Banc | 121 | 131 | 134 | -8% | -10% |
| CVB Fincl | 121 | 87 | 68 | 39% | 78% |
| FNB | 119 | 103 | 50 | 16% | 138% |
| Park Natl | 117 | 75 | 97 | 56% | 21% |
| Natl Penn Banc | 113 | 33 | (137) | 242% | 182% |
| Umpqua Holdings | 111 | 34 | (82) | 226% | 235% |
| United Bancshares | 110 | 104 | 78 | 6% | 41% |
| First Fincl Banc | 105 | 92 | 12 | 14% | 775% |
| Old National Bancorp | 100 | 43 | (7) | 133% | 1529% |
| CapitolFederalFincl | 97 | 105 | 105 | -8% | -8% |
| Hancock Holdings | 95 | 62 | 64 | 53% | 48% |
| PACWEST Banc | 88 | (109) | (84) | 181% | 205% |
| MB Fincl | 44 | (42) | (107) | 205% | 141% |
| Hanmi Fincl | 29 | (88) | (153) | 133% | 119% |
| Total all 24 | 2,999 | 1,900 | 811 | 58% | 270% |
| Total all 75 | 131,972 | 120,837 | 45,115 | 9% | 193% |
