The final tally is in, and all but one of the 10 biggest banks and savings and loans doing business in the Wichita area turned a profit in 2010.
An Eagle analysis of Federal Deposit Insurance Corp. data released Wednesday looked at information for the 10 Kansas-based banks doing business in the metropolitan statistical area — Butler, Harvey, Sedgwick and Sumner counties — that have the most deposits.
Only Midland National Bank in Newton reported a loss for the year, totaling $399,000.
Ron Lang, Midland's president, said the loss reflects the struggles of some of the $134 million-asset bank's commercial clients.
"We had some long-term customers in manufacturing, and it took longer for the downturn to roll through them," Lang said. "It's been a long enough economic decline, so it's really been a problem for them."
Lang is optimistic the bank will reverse its losses this year.
"I look forward to 2011 being a better year," he said. "We've had a good start to the year."
All nine other banks and thrifts saw positive net income for the year.
However, Intrust Bank and Capitol Federal Savings saw lower profits compared to 2009.
Lyndon Wells, Intrust executive vice president, said the bank's $4.3 million year-over-year decline in net income is largely the result of $55 million in net chargeoffs for the year, as well as higher FDIC insurance premiums and regulatory changes such as the new overdraft rule.
"I think the numbers speak for themselves," Wells said, adding the bank had a few "credit challenges" that it recognized in 2009 and worked through in 2010.
"So we believe we're better positioned to come back in 2011."
Intrust ended the year with $3.71 billion in assets, up from $3.69 billion in 2009.
Andover-based Equity Bank was among seven banks — Emprise, Fidelity, Southwest National, Rose Hill, Legacy and First Bank of Newton are the others — that saw higher profits.
Equity, which has $486 million in assets, saw a big year-over-year gain in net income, from $342,000 in 2009 to $1.79 million.
"We had a really good year," said Brad Elliott, Equity's chairman and CEO. "For the last few years we've been expanding our franchise and some of those branches have grown closer to operating efficiencies. We addressed loan losses in prior years, and we think the years going forward will be better and (the bank) will continue to grow in a positive direction."
According to the FDIC data, half of the banks lowered their loan loss provisions in 2010 — Emprise, Equity, Fidelity, Intrust and Southwest — while the other half increased the amount of money set aside for potential bad loans.
All 10 had capital ratios for the year that regulators would consider well-capitalized.