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WASHINGTON—The nation’s FDIC-insured banks reported aggregate net income of $70.4-billion during the second quarter of 2021, an increase of $51.9 billion (281%) from one year earlier, even though net interest margin hit an all-time low, according to the agency.

ALEXANDRIA, Va.–Federally insured credit unions reported net income growth of $11.9 billion in the second quarter of 2021, or 126.8%, over the same period in 2021, according to the latest financial performance data released by NCUA.