Contact: George Althoff, Communications Director, 608-261-4504
MADISON – Net income was up 8.7% and total lending increased by 6.3% at Wisconsin’s state-chartered banks in the first half of 2015, compared to the same period of the previous year, according to data released by the Federal Deposit Insurance Corp.
In the two quarters ending June 30, 2015, Wisconsin’s 185 state-chartered banks:
· Grew net income to $251.0 million, up from $230.8 million.
· Increased total loans to $33.5 billion, up from $31.5 billion.
· Improved their capital ratio to 11.87%, up from 11.71%.
· Reduced their past due loan ratio to 1.71%, down from 2.19%.
“The overall health of Wisconsin banks is very strong,” said Ray Allen, Secretary of the Department of Financial Institutions (DFI), which oversees state-chartered institutions. “As the Wisconsin economy continues to grow, our state-chartered banks are well positioned to handle increasing demand for products and services from businesses and consumers.”
Cheryll Olson-Collins, Deputy Administrator of DFI’s Division of Banking, pointed out that Wisconsin banks continue to see improvements in commercial and industrial loans.
“Commercial and industrial lending at state-chartered banks topped $5.5 billion as of June 30, an increase of more than 6% over last year,” Olson-Collins said. “Continued growth in that segment is a positive sign for the Wisconsin economy.”
