Contact: George Althoff, Communications Director, 608-261-4504
MADISON – Net lending grew by 9.8 percent at Wisconsin’s state-chartered banks in 2017 compared to 2016, according to data released by the Wisconsin Department of Financial Institutions (DFI).
Compared to 2016, Wisconsin’s 161 state-chartered banks in 2017:
- Increased net loans to $38.7 billion, up from $35.3 billion.
- Posted a net income of $537.3 million, up 0.2% from $536.0 million.
- Reduced their past-due loan ratio to 1.14%, down from 1.26%.
- Improved their capital ratio to 11.41%, up from 11.39%.
“Wisconsin’s state-chartered banks had another very good year in 2017,” said Jay Risch, Secretary of DFI, which oversees state-chartered financial institutions. “The overall strength of our banking industry is yet another sign of a prosperous and growing Wisconsin economy.”
Risch noted that in 2017, three Wisconsin banks converted from being nationally chartered to having DFI as their primary regulator, and that another two such conversions are pending in 2018.
“More and more bankers are recognizing the value of having DFI as their primary regulator,” Risch said. “They understand that DFI provides accessibility, accountability and affordability to their institutions. Our examiners are Wisconsinites who understand things like ag cycles and seasonal tourism-based economies in ways an examiner from somewhere else in the country might not.”
In 2017, more than half of all state-chartered banks posted earnings gains compared to 2016.