Report: KY financial institutions remain strong

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Kentucky money budget revenue

FRANKFORT, Ky. (WTVQ) – The Department of Financial Institutions (DFI) released its 2015 annual report on Wednesday, summarizing the status of state-chartered banks, credit unions, lenders, and investment firms.

DFI Commissioner Charles Vice says that financial institutions in the state are maintaining strong capital levels, in the face of, “information technology changes, cybersecurity threats, increased federal regulations, and modest economic growth.”

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The only area of concern from DFI analysts is in the arena of consolidation in the banking industry, as state-chartered banks declined by 10 in 2015.

For more information, or to view or download the entire report, visit http://kfi.ky.gov/publications/Pages/annualreports.aspx.