Bank deposits slowing due to inflation

The Wisconsin Bankers Association says while bank deposits were high during the COVID-19 pandemic, inflation is beginning to reverse that trend, according to a report from WisBusiness.

Federal data for the third quarter of 2022 shows total deposits at Wisconsin banks grew just 1.45% from the prior quarter, and 3.83% year over year. Meanwhile, lending rates at Wisconsin banks have been on the rise across various loan categories.