Contact: Bob Nenno, Communications Director, 608-261-4504
MADISON – Net lending grew by 4.4% at Wisconsin’s state-chartered banks in the six months ending June 30, 2018, according to data released by the Federal Deposit Insurance Corp.
“The continued growth in lending activity is great news for the state’s banking industry and for the Wisconsin economy,” said Jay Risch, Secretary of the Department of Financial Institutions (DFI), who oversees state-chartered banks.
Compared to the first two quarters of 2017, Wisconsin’s 161 state-chartered banks:
· Increased net loans to $40.4 billion, up from $36.9 billion.
· Posted a net income of $318.7 million, an increase of 19.3% from $267.2 million.
· Grew total assets by 8.3%, from $50.9 billion to $55.2 billion.
· Maintained a strong capital ratio of 11.44%, compared to 11.73%.
The increase in lending was the most significant factor in the strong growth rise in net income. Total interest income increased by 14.9% for the first six months of 2018 compared to 2017.
Through the first six months of 2018, 97% of all state-chartered banks were profitable and nearly 80% realized earnings gains compared to the prior year.