Profits were up 20 percent through the first three quarters of the year for Wisconsin-based banks, according to the new Quarterly Banking Profile from the FDIC.
The profile shows all 204 FDIC-insured Wisconsin banks reported a total of $1.1 billion in net income through the end of the third quarter, up from $891 million at the same point in 2017 (when there were 212 FDIC-insured banks reporting). At the halfway point of 2018, the banks reported $696 million in net income, up from $565 million in the first half of 2017.
Total loans and leases grew by 3.9 percent during that span, to nearly $84.7 billion from $81.5 billion.
Wisconsin banks have a total of $115.3 billion in total assets, up from $111.7 billion at the same point in 2017.
“Wisconsin banks remain committed to helping businesses grow and families prosper, creating thriving communities, as shown by the latest FDIC quarterly numbers,” said Rose Oswald Poels, president and chief executive officer of the Wisconsin Bankers Association.