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Kentucky Financial institutions remain stable

Kentucky.gov:   The 2010 Annual Report of the Kentucky Department of Financial Institutions (DFI), released today, shows state financial institutions continue to remain stable despite economic hardships, thanks to strong capital positions coupled with sound risk management practices.

“This annual report indicates that Kentucky’s financial services industry has weathered the storm and remains committed to helping our communities and residents deal with economic uncertainty,” said DFI Commissioner Charles Vice.

Kentucky’s 156 state-chartered banks increased total assets to more than $45 billion, and the state’s 26 state-chartered credit unions increased assets to more than $1.7 billion in 2010. Both also increased total loans last year. While profitability measures are below historical levels, the return on average assets for banks and credit unions in Kentucky improved during the past 12 months.

Read the entire report.

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