First-quarter profits rose 5% for Wisconsin banks as lending increased and delinquent loans declined, a report released Wednesday by a regulator shows.
Altogether, the 200 banks based in Wisconsin posted net income of $359 million in this year's first quarter, compared with $342 million in the same period in 2018, according to the Federal Deposit Insurance Corp.
Total loans and leases increased 4.2% to more than $85.2 billion from $81.8 billion, and deposits rose 4.7% to almost $92 billion from $87.9 billion.
Rose Oswald Poels, president and chief executive of the Wisconsin Bankers Association, said lending increased in almost every category.
"Year-over-year comparisons of FDIC first-quarter numbers show the largest growth occurred with commercial lending — 10.6%," she said in a statement. "Residential loans indicated only a small uptick of 0.8% since last year."
Read more in the Milwaukee Journal Sentinel.