A new federal report says the banking industry in Kansas is more efficient and safer than it was last year.

The Federal Deposit Insurance Corp. report released Tuesday says the industry recorded big increases in earnings and capital and in
the second fiscal quarter compared with the same quarter last year.

Banks and thrifts increased net income by 169 percent to $234 million in the second quarter, compared with $87 million in last year’s second
quarter.

Rick LeCompte, a Wichita State University professor, said the industry also was helped when some failing banks and thrifts were closed. The report said there were 324 banks and thrifts at the end of second quarter, down from 337 in the same quarter last year.