State banks financial situation better than a year ago
Wisconsin Business-- Wisconsin banks as a whole are much better off financially than a year ago – but they’re not lending as much money.
Wisconsin banks as a whole are much better off financially than a year ago – but they’re not lending as much money.
The FDIC said today that about one-of-every-seven of Wisconsin’s 272 state-chartered banks had lost money in the last quarter. A year ago, one-of-every-five banks were in the red. The FDIC said the state’s banks made a combined $51-million from April-through-June. That’s a complete turnaround from last year, when the same banks were losing $120-million. Total loans and leases fell by around seven-and-a-half percent in the most recent quarter, to just over $100-billion.
The Associated Bank chain of Green Bay had the state’s highest net income among non-specialty banks, at $37.2 million from April through June. National Exchange of Fond du Lac was a distant second with a net of $3.7 million. Milwaukee’s M&I Bank was acquired by Canada’s BMO Financial Group during the last quarter, after M&I had eight consecutive quarterly losses. Not counting M&I, Bank Mutual of Brown Deer had the state’s biggest loss, at just over $51-million.
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