Wisconsin’s State-Chartered Banks Post Strong Third Quarter Performance
MADISON, Wis. – Loans increased by 5.04% at Wisconsin’s state-chartered banks through the first nine months of 2019 compared to the same period in 2018, according to data recently released by the Federal Deposit Insurance Corporation (FDIC).
“Wisconsin’s state-chartered banks continued to perform well through the first three quarters of 2019 thanks to an overall robust economy, which contributed to solid loan demand and minimal delinquencies,” said Kathy Blumenfeld, Secretary, Wisconsin Department of Financial Institutions.”
Compared to the first three quarters of 2018, Wisconsin’s 149 state-charted banks:
- Increased net loans to $42.8 billion, up from $41.1 billion;
- Posted net income of $521.1 million, an increase of 7.3% from $486.4 million;
- Grew total assets by 4.48% from $55.5 billion to $58.1 billion; and
- Maintained a strong capital ratio of 11.97%, compared to 11.47%.
The increase in lending was the most significant factor in the strong growth in net income. Total interest income increased by 10.90% for the first nine months of 2019 compared to 2018.
Through the first nine months of 2019, 97% of all state-chartered banks were profitable and nearly 71% realized earnings gains compared to the prior year.
To learn more, read the full report of Wisconsin state-charted banks third quarter 2019 performance on the DFI website here.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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