Bank profits increase statewide
The combined profits of Wisconsin banks rose 24% in 2013 compared to 2012, according to reports from the Federal Deposit Insurance Corp. (FDIC). State banks insured by the FDIC had combined earnings of $1 billion last year, up from $828 million a year earlier. Only 14 banks, representing 5.4% of the state’s 260 institutions, saw losses. In 2012, the percentage of banks reporting losses was 9.4%.
At $209.3 million, Green Bay-based Associated Bank posted the largest net income of the full-service banks in 2013. Baraboo National Bank reported the largest loss, at $22.1 million.
Non-performing assets of banks statewide decreased year-to-year, representing 1.75% of all assets in 2013, down from 2.49% of all assets in 2012.