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Numbers released May 28, 2025, by the Federal Deposit Insurance Corporation (FDIC) showed a steady start to 2025 by Wisconsin banks. Residential real estate lending (8.67%), farm lending (8.95%), and commercial lending (5.00%) all increased over the prior year. Deposits increased year over year (5.63%). The Q1 2025 net interest margin increased (3.33%) from the prior quarter (3.22%) and prior year (3.10%). Wisconsin banks remain well capitalized.
Notable indicators include:
- Farm lending increased quarter over quarter (8.78%) which extended the pace year over year (8.95%) as banks continue to help farmers with their operational needs.
- Commercial lending slowed in growth slightly quarter over quarter (2.43%) from the year over year (5.00%) increase as commercial customers adjust to impacts of global economic challenges.
- Residential real estate loans increased year over year (8.67%) yet decreased quarter over quarter (-16.05%) as inventory remains limited and the marketplace competitive from non-traditional lenders.
- Assets in nonaccrual status increased both quarter over quarter (8.74%) and year over year (2.20%) as ongoing inflation and the high cost of living impact borrowers.
Statement on the release of first-quarter 2025 Federal Deposit Insurance Corporation (FDIC) numbers from Rose Oswald Poels, president and CEO of the Wisconsin Bankers Association:
“The first-quarter FDIC numbers reflect that 2025 has started off steady for Wisconsin Banks with all areas of lending increasing year over year. The increase in farm and commercial lending continued through the first quarter. The data also reflects that Wisconsin’s residential real estate market continues to be competitive. Across all categories of lending, banks continue to monitor credit quality and work with struggling borrowers as Wisconsin banks remain well positioned to continue to help meet the needs of their customers and communities.”
FDIC-Reported Wisconsin Numbers (Dollar Figures in Thousands)
03/31/2025 | 12/31/2024 | QoQ Change | 03/31/2024 | YoY Change | |
Net loans and leases | $115,784,161 | $114,571,863 | 1.06% | $110,786,153 | 4.51% |
Total deposits | $129,733,193 | $128,607,041 | 0.88% | $122,823,065 | 5.63% |
Commercial and industrial loans | $18,947,428 | $18,497,687 | 2.43% | $18,044,391 | 5.00% |
Residential real estate loans | $32,798,394 | $39,070,601 | -16.05% | $30,180,575 | 8.67% |
Farm loans | $4,465,311 | $4,104,912 | 8.78% | $4,098,653 | 8.95% |
Total assets | $160,833,420 | $159,392,728 | 0.90% | $153,075,799 | 5.07% |
Assets in nonaccrual status | $630,718 | $580,044 | 8.74% | $617,124 | 2.20% |
Over 320 bankers representing more than 70 banks from across Wisconsin attended this year’s Wisconsin Bankers Association (WBA) Capitol Day. This annual event allows bankers to join together to meet with elected representatives to share how much public policy can impact a bank’s ability to aid the economic growth and vitality of their communities. These critical meetings help illustrate just how integral banks are in keeping their communities thriving.
“I am excited to see how each year brings more and more bankers to this event for the opportunity to both discuss important priorities and develop stronger relationships with legislative representatives,” said Rose Oswald Poels, WBA president and CEO. “These meaningful discussions allow for direct dialog between constituents and their elected officials on changes needed to help banks better serve their customers and communities.”
During the meetings bankers shared how each gives back and supports their communities and discussed key issues such as credit card interchange fees, state privacy regulations, tax parity, and the need for further protections of seniors from financial exploitation or fraud.
In a panel discussion led by WisPolitics.com President Jeff Mayers, participants also heard insights and perspectives from legislative leadership which included Senate Majority Leader Devin LeMahieu, Assembly Speaker Robin Vos, Senate Minority Leader Dianne Hesselbein, and Assembly Assistant Minority Leader Kalan Haywood. Wisconsin Department of Financial Institutions Secretary-designate Wendy K. Baumann also addressed the attendees over lunch.
The Wisconsin Bankers Association (WBA) is pleased to announce three bankers as 2025 Wisconsin Woman of Impact Award winners. The awards were presented at WBA’s 19th Annual Women in Banking Conference.

Pictured (left to right) are: Wisconsin Bankers Association President and CEO Rose Oswald Poels; Susan T. Doyle, senior vice president – retail banking, North Shore Bank; Rose Petitte, director of business development, Horicon Bank; Theresa Wiese, managing director of risk and compliance, First Business Bank; and WBA Board Chair Al Araque, senior vice president, director of consumer, private and business banking, Johnson Financial Group.
“I am thrilled for Susan, Rose, and Theresa to have received this award in recognition of their years of dedication to their colleagues, the banking industry and their communities,” said Rose Oswald Poels, WBA president and CEO. “Each exemplifies the skills, knowledge, and character of what it means to be a woman of impact.”
Susan T. Doyle, senior vice president – retail banking, North Shore Bank, Brookfield

Susan T., Doyle
With 41 years of banking experience, Susan has driven innovation and growth at North Shore Bank, embracing new technology and transforming the financial industry. She spearheaded the installation of Wisconsin’s first Interactive Teller Machine, offering customers seven-day banking service while creating a more efficient staffing model. She also optimized the bank’s distribution network, aligning branch moves and remodels with customer preferences for digital and in-person banking. Her strategies led to cost savings, improved production by more than 10%, and supported as much as 100% customer growth in targeted markets.
Susan is a dedicated advocate for community engagement. She serves on the boards of the Milwaukee Zoological Society and Riverworks Development Corporation, helping revitalize Milwaukee’s northeast industrial corridor. For 20 years, she has supported Next Door Milwaukee, helping under-resourced children receive a strong start, as a Program Committee member, past board member, and Books for Kids volunteer. She also helped establish bank partnerships with the Latino Chamber of Commerce, the Historic King Drive BID, and ELEVATE Wisconsin to expand financial literacy and small business support.
Susan is a committed mentor and advocate for women in banking. As a past TEMPO Envision president, she helped develop female executives, including bank employees. A member of Professional Dimensions, she connects women at the bank with networking opportunities that foster leadership growth. She is an executive co-sponsor of the bank’s Emerging Leaders Group, 75% of which are women, and supports professional development, executive exposure, networking, and more. She also engages
members in WBA programs like Capitol Day, helping cultivate the next generation of banking leaders.
Rose Petitte, director of business development, Horicon Bank, Horicon

Rose Petitte
Rose began her career with Horicon Bank in 2011 as branch manager and business banker in West Bend where the bank had $41M in deposits and 3.87% market share. Today, the bank has $132M in deposits and 10.34% market share thanks to Rose’s commitment to growing customer relationships. Rose has led the bank’s retail network (growing the total branch count from 14 to 21), helped launch an ITM network, transitioned to ITM-only grocery store locations, and spearheaded customer adoption of e-statements (from a 42% adoption rate to 70%), among other valuable initiatives. Rose has 44 years of banking experience, is a Graduate School of Banking at University Wisconsin-Madison graduate and has served on the WBA’s Retail Banking Committee.
Horicon Bank staff share that Rose praises generously, listens actively, and cares deeply. Rose supports employees as people first as she advocates for the careers and personal development of staff.
Rose is also deeply involved and dedicated to the West Bend community. She serves as president for the WB COLUMNS Scholarship Foundation (and has served this organization for 11 years); is a Board Member for The Threshold, Inc. in West Bend (and has served this organization for 14 years); is an active member of West Bend Noon Kiwanis for over 14 years (and has served as president of the organization); has previously served as a West Bend Chamber Ambassador; co-chaired the United Way Washington County Campaign; and volunteers for Junior Achievement.
Theresa Wiese, managing director of risk and compliance, First Business Bank, Madison

Theresa Wiese
Theresa has been a pivotal employee since joining First Business Bank 32 years ago when it was $50MM ($3.7B today) and has led the areas of client services, branch operations, deposit operations, IT, facilities management, loan review, risk, and compliance. Theresa has also served as the bank’s security, compliance, and BSA officers and has led external audits, loan reviews, and regulatory exams for over 15 years. Theresa currently leads the bank’s compliance oversight and senior management risk committees and engages regularly with the bank’s board of directors to ensure strong risk and compliance oversight.
Theresa is a long-time active participant of the WBA Government Relations Committee and has attended bi-annual trips to Washington, D.C. to meet with regulators and congressional leaders since 2011. Theresa is also active with ABA working groups relating to risk and compliance.
Theresa has served as a peer mentor at First Business Bank to many new employees. In this role, she has helped many women learn the culture of the bank and how to navigate the organization to be successful. Theresa is a founding member of the bank’s Women in Leadership Committee, which was responsible for various educational opportunities for women and is an advocate for career development for women. Over her 32 years with the bank, 50-75% of the employees under Theresa’s leadership were women and all were provided opportunities for development and learning, and countless were promoted.
Theresa supports her community as a parish board member and member of the finance committee for over 10 years at Our Lady Queen of Peace; an American Red Cross donor for over 10 years; a finance committee member and financial literacy volunteer for the Catholic Muti-cultural Center; and a volunteer at Second Harvest Foodbank and the Lussier Community Education Center & Middleton Outreach Center since 2020.
The WBA Woman of Impact Award has been established to celebrate WBA members who have made significant contributions and positive impacts in their organizations, communities, and the banking industry.
Numbers released today by the Federal Deposit Insurance Corporation (FDIC) showed Wisconsin banks rounding out 2024 in a strong position. Residential real estate lending increased over the prior year (15.46%), farm lending held steady (1.83%), and commercial lending increased (3.69%). Deposits increased year over year (5.06%). The Q4 2024 net interest margin of 3.22% is a slight increase over the prior quarter (3.18%) and prior year (3.20%). Wisconsin banks remain well capitalized.
Notable indicators include:
- Residential real estate loans increased substantially quarter over quarter (17.15%) and slightly year over year (15.46%). Inventory continues to be very limited, and homeowners who refinanced at low interest rates during the pandemic have little incentive to move. Buyers have become accustomed to the current interest rate environment and higher home prices. Use of home equity lines of credit are reflected in the increase.
- Commercial lending held steady quarter over quarter (0.55%) and grew moderately year over year (3.69%) as Wisconsin banks continued to meet customer needs.
- Farm loans decreased significantly quarter over quarter (-20.66%) and held steady year over year (1.83%) as farmers struggled with commodity prices, weather, and tight operational costs.
- Assets in nonaccrual status decreased slightly quarter over quarter (-2.17%) and remained elevated year over year (14.81%) as inflation and the high cost of living impact borrowers. While banks continue to monitor credit quality, the current level of past-due loans remains above recessionary levels.
Statement on the release of fourth-quarter 2024 Federal Deposit Insurance Corporation (FDIC) numbers from Rose Oswald Poels, president and CEO of the Wisconsin Bankers Association:
“The fourth-quarter FDIC numbers show the year 2024 ended on a solid note with Wisconsin’s banks in a strong position. Residential real estate loans increased as the state’s housing market saw activity in the last two months of the year despite low inventory. Commercial lending also saw an increase while farm loan demand held steady as farmers work through commodity prices, weather challenges, and high operational costs. Wisconsin’s banks continue to meet the lending and deposit needs of their communities.”
FDIC-Reported Wisconsin Numbers (Dollar Figures in Thousands)
12/31/2024 | 9/30/2024 | QoQ Change | 12/31/2023 | YoY Change | |
Net loans and leases | $114,571,863 | $114,405,149 | 0.15% | $109,762,497 | 4.38% |
Total deposits | $128,607,041 | $125,335,066 | 2.61% | $122,411,348 | 5.06% |
Commercial and industrial loans | $18,497,687 | $18,396,211 | 0.55% | $17,839,610 | 3.69% |
Residential real estate loans | $39,070,601 | $33,352,253 | 17.15% | $33,839,049 | 15.46% |
Farm loans | $4,104,912 | $5,173,857 | -20.66% | $4,031,270 | 1.83% |
Total assets | $159,392,728 | $158,237,843 | 0.73% | $152,451,601 | 4.55% |
Assets in nonaccrual status | $580,044 | $592,938 | -2.17% | $505,240 | 14.81% |
Wisconsin Bankers Foundation Recognizes Initiative of Bank of Sun Prairie and St. Vincent de Paul

Jimmy Kauffman, Bank of Sun Prairie president and CEO (holding award); and colleagues accept the 2024 Wisconsin Bankers Foundation Financial Education Innovation Award from Rose Oswald Poels, Wisconsin Bankers Association president and CEO and WBF chair and treasurer; and Alvaro Araque, WBA chair.
The Wisconsin Bankers Foundation (WBF) is pleased to announce that Bank of Sun Prairie has been selected as the recipient of the 2024 Financial Education Innovation Award. The award was presented on February 6, 2025, at the largest banking industry event in the state, the Wisconsin Bankers Association (WBA) Bank Executives Conference, in Milwaukee.
“It is important to raise awareness that when unexpected expenses hit, banks offer much better alternatives to high-interest payday loans,” said Rose Oswald Poels, WBF chair and WBA president and CEO. “Bank of Sun Prairie’s partnership with St. Vincent de Paul is an outstanding program that connects people who are experiencing financial hardship with resources to get them back on solid financial footing.”
Bank of Sun Prairie has created a unique partnership with St. Vincent de Paul in Madison to provide microloans of around $500–$2,500. The program not only helps borrowers avoid costly payday or title loans, it also comes with financial literacy support. Participants are coached each month to help them find ways to make the minimum payment. One recipient, Terri, was able to pay off her car title loan and secure a low-interest loan with the bank. Terri’s monthly payment dropped from $437/month at 305% interest to $74/month at 5% interest, and she could afford to stay in her new apartment rather than become unhoused. The program also connects people with the bank’s Fresh Start Checking Accounts, which can help those who have had challenges with using and keeping a checking account in the past to move forward.
The WBF Financial Education Innovation Award is a prestigious category of the WBF Excellence in Financial Education Awards. Submissions for the 2024 WBF Excellence in Financial Education Awards encompassed over 900 financial education presentations — including Teach Children to Save Day presentations, homeownership workshops, and elder financial abuse prevention seminars, among other initiatives — given by more than 400 Wisconsin bank employees, reaching approximately 30,000 Wisconsin community members.
On December 12, 2024, the Federal Deposit Insurance Corporation (FDIC) released numbers showing Wisconsin banks continued to be in a healthy position through the third quarter of 2024. While residential real estate lending dipped slightly over the prior year (-2.34%), farm lending held steady (-0.29%) and commercial lending increased (2.50%). Deposits increased year over year (3.53%), due in part to the high interest rates offered on certificates of deposit (CDs) and money market accounts. The Q3 2024 net interest margin of 3.18% is a slight decrease over the prior year (3.19%) but an increase over the prior quarter (3.14%). Wisconsin banks remain well capitalized.
Notable indicators include:
- Residential real estate loans decreased slightly year over year (-2.34%). Inventory continues to be very limited, and homeowners who refinanced at low interest rates during the pandemic have little incentive to move. Seasonal trends in housing sales played into the decrease from the prior quarter (-11.70%) with spring typically being the most popular time to move in Wisconsin.
- Commercial lending saw modest growth year over year (2.50%) and quarter over quarter (1.19%) as the Fed began easing interest rates in September.
- Farm loans held steady year over year (-0.29%) and increased quarter over quarter (4.68%) as farmers sought to upgrade equipment, make capital improvements, or manage operational costs affected by tighter margins.
- Past-due loans were elevated year over year (19.30%) and quarter over quarter (6.55%) as inflation and the high cost of living impacts borrowers. While banks continue to monitor credit quality, the current level of past-due loans remains above recessionary levels.
Statement on the release of third-quarter 2024 Federal Deposit Insurance Corporation (FDIC) numbers from Rose Oswald Poels, president and CEO of the Wisconsin Bankers Association:
“The latest FDIC report underscores the continued strength and adaptability of Wisconsin banks. While monitoring the effects of inflation, Wisconsin’s banks remain well capitalized and continue to meet the needs of their communities. A decrease in interest rates in September helped commercial borrowers’ lending needs and allowed banks the opportunity to support those customers’ growth and financial goals.”
FDIC-Reported Wisconsin Numbers (Dollar Figures in Thousands)
9/30/2024 | 6/30/2024 | QoQ Change | 9/30/2023 | YoY Change | |
Net loans and leases | $114,405,149 | $112,992,032 | 1.25% | $111,536,377 | 2.57% |
Total deposits | $125,335,066 | $122,315,576 | 2.47% | $121,056,967 | 3.53% |
Commercial and industrial loans | $18,396,211 | $18,179,173 | 1.19% | $17,946,778 | 2.50% |
Residential real estate loans | $30,702,592 | $34,770,361 | -11.70% | $31,436,804 | -2.34% |
Farm loans | $5,173,857 | $4,942,403 | 4.68% | $5,188,674 | -0.29% |
Total assets | $158,239,189 | $155,167,083 | 1.98% | $153,647,895 | 2.99% |
Assets 90+ days past due or in nonaccrual status | $618,665 | $580,617 | 6.55% | $518,570 | 19.30% |
PARENT COMPANY OF FARMERS & MERCHANTS UNION BANK TO ACQUIRE 100% OF THE CAPITAL STOCK OF WISCONSIN RIVER BANK
Jewel Box Financial Services, Inc. (“Jewel Box”), the holding company of Columbus-based Farmers & Merchants Union Bank (“FMUB”), and River Holding Company (“River Holding”), the holding company of Sauk City-based Wisconsin River Bank (“WRB”), have jointly announced today the signing of an agreement whereby Jewel Box will acquire 100% of the capital stock of WRB from River Holding through a stock purchase agreement. Jewel Box will then merge WRB into FMUB and the surviving bank will operate under the Farmers & Merchants Union Bank name.
Based on most recent reported financials, the combined institution is expected to have approximately $690 million in total assets and 9 banking offices, inclusive of WRB’s 3 locations, spanning Columbia, Dodge, Sauk and Rock Counties.
“Wisconsin River Bank has built a strong reputation over the last 30 years by consistently delivering superior service to customers,” said Timothy Schams, Chairman of the Board of River Holding Company. “Joining forces with FMUB presents a tremendous opportunity for our customers, employees, and the communities we serve.”
“We are thrilled that Wisconsin River Bank has chosen Farmers & Merchants Union Bank as its partner for the future,” said Randy Bobholz, President and CEO of Jewel Box and its subsidiary, FMUB. “The team at Wisconsin River Bank has created an exceptional bank, and we are honored to carry forward its legacy of local service.” Bobholz added, “We believe the purpose of a community bank is to be the local economic engine for the communities we serve. Together, our current staff and the Wisconsin River Bank staff will fulfill that purpose and continue to make banking better and easier for all of our customers across this expanded footprint.”
Olsen Palmer LLC served as financial Advisor to Jewel Box and Godfrey & Kahn, SC served as its legal counsel. Hovde Group, LLC served as financial advisor to River Holding Company, and Arndt Buswell & Thorn S.C served as its legal counsel.
The transaction, which has been approved by the Board of Directors of both companies and is subject to River Holding shareholder and Jewel Box regulatory approvals, is expected to close in the first quarter of 2025. Terms of the transaction were not disclosed.
About Jewel Box Financial Services, Inc. and Farmers & Merchants Union Bank
Jewel Box is headquartered in Columbus, Wisconsin and owns FMUB, a 160-year-old bank with $504 million in total assets and 6 banking offices in Columbia and Dodge Counties.
About River Holding Company and Wisconsin River Bank
Wisconsin-based Wisconsin River Bank is a subsidiary of River Holding Company, which is headquartered in La Crosse, Wisconsin. WRB has total assets of approximately $183 million and operates 3 banking offices.