The failure of three banks in early 2023 pushed bank earnings down 11.3% in the second quarter compared to the prior quarter, according to the Federal Deposit Insurance Co.’s quarterly report released Thursday. Combined profit from 4,645 commercial banks and savings institutions fell $9 billion to $70.8 billion, including the effects of on acquirers’ incomes of their acquisition of Silicon Valley Bank, First Republic Bank and Signature Bank, the FDIC said. Breaking out this impact, profit would have been about flat from the first quarter. “Declines in noninterest income, reflecting the accounting treatment of the acquisition…
