Commercial lending was up 12 percent statewide through the end of the second quarter, according to the Federal Deposit Insurance Corp.
Wisconsin banks reported $69.8 billion in total loans and leases in the second quarter, compared with $67.3 billion in the second quarter of 2013, according to the Quarterly Banking Profile.
“Wisconsin’s banks demonstrated their continued support of the state’s businesses with a dramatic 12 percent increase in commercial lending over the past year,” said Rose Oswald Poels, president and chief executive officer of the Wisconsin Bankers Association. “The industry marked a strong growth in key categories including overall lending as well as showing a decrease in delinquencies compared to last year. These signs sharply illustrate that Wisconsin’s banks continue to play a critical role as economic drivers in supporting businesses and consumers.”
And the lending trend may be extending into the third quarter. For example, Milwaukee-based Mandel Group Inc. announced recently that it has closed on financing for the third phase of its North End development in downtown Milwaukee, raising $53 million to develop a six-story mixed use building at the corner of North Water and East Pleasant streets.
The Quarterly Banking Profile included 255 reporting institutions, down from 261 last year. Total assets were $101 billion, up from $97.3 million in the second quarter of 2013. Total deposits were $78.6 million, up from $77.5 million a year ago.
The state’s banks reported combined net income of $472 million through the end of the second quarter, down from $495 million in net income through the end of the second quarter of 2013.
Green Bay-based Associated Bank N.A. topped Wisconsin banks, reporting $49.2 million in net income for the quarter. The bank has $25.5 billion in total assets.
Next was Madison-based John Deere Financial f.s.b., with $20.6 million in quarterly net income, followed by Milwaukee-based Northwestern Mutual Wealth Management, with $7 million in net income for the quarter.
Racine-based Johnson Bank, with $7 million, and Baraboo-based The Baraboo National Bank, with $6.2 million, rounded out the top five.