Iowa banksâ net income up by double digits in first quarter; loans up 5.1% BY BUSINESS RECORD STAFF Friday, May 28, 2021 10:22 AM Iowa banks reported net income of $391 million for the first quarter of 2021, a nearly 61% increase from the first quarter of 2020, according to the Quarterly Banking Profile released Wednesday by the Federal Deposit Insurance Corp. Iowa-chartered banks continued to support the state’s economy with $68.6 billion in active loans on their books as of March 31, an increase of 5.1% from the prior year. The quality of these loans also remained strong, as net loan charge-offs decreased to 0.02% of total loans, compared with 0.09% from the prior year.