Public Continues to Place Their Trust in Banks
MADISON, Wis. – Banks continue to be a safe place for consumers to keep their money, as evidenced by a 10.42% year-over-year (YoY) climb in deposits from Q3 2020 to Q3 2021. Net loans and leases have seen a slight increase quarter over quarter from Q2 to Q3 of 2021 (0.62%), led largely by an increase in residential loans. A notable downward trend of noncurrent loans and leases (-32.76% Q3 YoY) highlights the financial health of borrowers and their ability to repay their loans. The economy continues to show positive signs of rebound for banks and consumers in the state alike.
Statement on the release of third-quarter 2021 Federal Deposit Insurance Corporation (FDIC) numbers from Rose Oswald Poels, president and CEO of the Wisconsin Bankers Association:
“A slight increase seen quarter over quarter continues a positive, albeit slow upward trend in lending, led primarily by real estate lending. In terms of business lending, trends reflect business owners’ caution with their borrowing needs. While some businesses have fewer borrowing needs due to government stimulus funding and the Paycheck Protection Program, other business owners are more hesitant to borrow due to supply chain issues and worker shortages that are hindering their abilities to grow.”
FDIC-Reported Wisconsin Numbers (Dollar Figures in Thousands)