Contact:
Eric Skrum, Wisconsin Bankers Association
608-441-1216 | eskrum@wisbank.com
Twitter: @wisbank
Statement on the release of third quarter 2019 FDIC numbers from Rose Oswald Poels, president/CEO of the Wisconsin Bankers Association
- Commercial and industrial loans increased by 2.9%
- Growth in net loans and leases by 3.2%
- Farmland loans grew by 1.1%, showing the banking industry’s support for this important and struggling facet of the Wisconsin economy
“Wisconsin’s economy is holding steady despite stress in certain economic sectors.
There are many positive, strong numbers associated with Wisconsin’s
economic numbers as highlighted by the banking industry. Year-over-year
comparisons of FDIC third quarter numbers show the largest growth
occurred with commercial lending (2.9%). Residential loans stayed
essentially the same since last year.
Overall these continue to be good indicators that Wisconsin’s economy is
stable as businesses and families leverage the opportunities offered by
bank services to improve their quality of life and services to their
customers.
Overall loan quality continues to be very good. Demand for deposits
continues to remain fierce as shown by an increase of 43.9% in total
interest expense. Margins are holding steady which helps to maintain net
income. Loan interest rates seem to be dropping.
Agricultural bankers continue to proactively work with their customers
during these challenging times. Farmland loans increased 1.1% while farm
loans stayed approximately at the previous quarter’s level. Bankers
value the farms, agribusiness, and hardworking people that make up the
communities they serve. It’s important for the ag community to have
Wisconsin banks to help them through these tough times.
Consumer finances continue to show improvement as highlighted by a 3.5%
decrease in noncurrent loans and leases. Another positive indicator is
the 2.9% growth in deposits.
Wisconsin banks continue their important role as key drivers of our
state’s economy by helping businesses grow and families prosper.”
FDIC Reported WI Numbers*
9/30/20199/30/2018Change
Net loans and leases 86,367,235 83,678,775 3.2%
Total deposits 92,438,088 89,861,365 2.9%
Commercial and industrial loans 14,714,172 14,300,257 2.9%
Residential loans 23,684,360 23,721,652 -.2%
Farmland loans 3,558,906 3,519,795 1.1%
Farm loans 4,921,069 4,936,455 -.3%
Total assets 118,455,433 115,293,557 2.7%
Noncurrent loans and leases 624,425 646,884 -3.5%
* dollar figures in thousands###
The Wisconsin Bankers Association is the state’s largest financial
industry trade association, representing nearly 235 commercial banks and
savings institutions, their nearly 2,300 branch offices and 23,000
employees.