WASHINGTON Bank Profits Hit New High In 1994 with a 3.7% Jump

Bank profits jumped 3.7% last year to a record $44.7 billion, according to a Federal Deposit Insurance Corp. report. The rise in profits was attributed to robust lending. FDIC Chairman Ricki Tigert Helfer said the earnings were "astounding," but warned that banks may lose part of their promised deposit insurance premium reduction as thrifts charter banks to escape the industry's high rates.

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