For state's banks, 2011 is a profitable year

Many Washington banks and thrifts are on track to make 2011 a profitable year — but experts say the industry needs more consolidation to be healthy.

After three unprecedented years of losses for the sector and the disappearance of more than two dozen institutions, Washington's banking industry posted a third-quarter profit of $116.9 million, double its profit in the previous quarter and a sharp contrast to the $88.7 million loss in the same period a year ago

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