Net lending at Wisconsin’s state-chartered banks grew by nearly 10 percent in 2017 according to data released by the Wisconsin Department of Financial Institutions.
Compared to 2016, Wisconsin’s 161 state banks increased net loans in 2017 to $38.7 billion, up from $35.3 billion, while also reducing their past-due loan ratio to 1.14 percent, down from 1.26 percent.
Meanwhile, net income revealed a slight gain: the same banks posted $537.3 million in net income, up from $536.0 million, or a 0.2 percent year-over-year increase.
In 2017, more than half of all state-chartered banks in Wisconsin posted earnings gains. “The overall strength of our banking industry is yet another sign of a prosperous and growing Wisconsin economy,” commented Jay Risch, secretary of the DFI.
Three Wisconsin banks converted from national to state charters in 2017; Risch reports that two additional conversions are pending in 2018.