Wisconsin Department of Financial Institutions: Lending up 6.6% at state-chartered banks
Contact: George Althoff, Communications Director, 608-261-4504
Net lending up 6.6% at state-chartered banks
MADISON – Net lending grew by 6.6% at Wisconsin’s state-chartered banks in the nine months ending Sept. 30, 2017, compared to the previous year, according to data released by the Federal Deposit Insurance Corp.
Compared to the first three quarters of 2016, Wisconsin’s 159 state-chartered banks:
· Increased net loans to $37.5 billion, up from $35.2 billion.
· Posted a net income of $419.4 million, a decline of 0.7% from $422.6 million.
· Reduced their past-due loan ratio to 1.26%, from 1.43%.
· Maintained a strong capital ratio of 11.75%, compared to 11.88%.
“The continued growth in lending is a positive sign for the Wisconsin banking industry and for the state’s economy,” said Jay Risch, Secretary of the Department of Financial Institutions (DFI), which oversees state-chartered financial institutions. “State-chartered banks are in solid position to continue to provide the products and services their customers need and want.”
In the first nine months of 2017, nearly 65% of state-chartered banks have posted earnings gains over the same period in 2016.
George Althoff Communications Director Wisconsin Department of Financial Institutions 201 W. Washington Ave. - Fifth Floor P.O. Box 8861 Madison, WI 53708-8861 firstname.lastname@example.org 608-261-4504 (office) 608-261-4334 (fax) www.wdfi.org FacebookIcon twitter