Lending by Wisconsin banks rose almost 4 percent and industry earnings jumped nearly 7 percent in 2018, growth that reflected a good economy.
Year-end data from the Federal Deposit Insurance Corp. shows overall net income for the 201 banks headquartered in Wisconsin totaled $1.4 billion last year, up from $1.1 billion in 2017.
At the same time, total loans and leases increased to $84.4 billion from $81.3 billion, and delinquent loans and leases shrunk to only 0.70 percent of total loans, better than the national rate of 0.99 percent.
“Across the board, 2018 was a very strong year for Wisconsin’s banks as well as the state’s economy,” Rose Oswald Poels, president and chief executive officer of the Wisconsin Bankers Association, said in a statement.
Read more in the Milwaukee Journal Sentinel.
The Milwaukee Business Journal noted that commercial and industrial loans rose 11.3 percent to $14.6 million from $13.1 million. Farm loans grew 4 percent to $4.1 million from about $4 million, the data show. Residential loans saw smaller growth of about 0.8 percent to $23.7 million in the fourth quarter of 2018, compared with the year prior.