Bank Earnings Reach 5-Year High In First QuarterMark Perryupdated May 26, 2012TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.The FDIC reported this week that bank profits in the first quarter of 2012 increased to $35.3 billion, the highest level in almost five years going back to the second quarter of 2007 (see chart above, data here). That represents a 23% gain from the first quarter last year, and a 38% improvement from the previous quarter. In other signs of improvements in the banking industry's financial condition, noncurrent loan rates and net chargeoff rates decreased in the first quarter this year compared to the same quarter last year, and in both cases there were decreases for all three loan categories: real estate, business and consumer.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.