For more information, contact:
Eric Skrum, Wisconsin Bankers Association
608/441-1216 | (c) 608/445-6430 | [email protected]
Wisconsin banks continue their consistent positive progress with steady improvements such as an increase in lending, fewer loans past due, less money diverted to cover failing loans and more banks returning to profitability, according to second-quarter data released by the Federal Deposit Insurance Corporation (FDIC).
Noncurrent loans, loans 90 days or more past due, have decreased nine consecutive quarters while loan loss provisions, the funds banks must set aside to cover bad loans, decreased for the sixth quarter in a row. The amount of loans has also increased over the last three quarters.
“These are key indicators that both Wisconsin consumers and banks are on a slow but steady road of improvement,” explained Wisconsin Bankers Association President/CEO Rose Oswald Poels. “Simply put, banks are in a stronger position to help their communities.”
“Just as importantly, these numbers also highlight that many consumers are in a stronger financial position than they were just a few short years ago.”
Additionally, for the first time in 17 quarters (March 2008), only seven percent of the banks in the state reported a loss.