Wisconsin Bank & Trust flat in 2Q

Wisconsin Bank & Trust today reported second quarter net income of $1.5 million, the same as in the second quarter of 2012.

The Madison-based bank has 10 branch offices in Wisconsin and mortgage origination offices in Brookfield, Madison and Green Bay. The Brookfield office was opened in the second quarter.

Total assets were $643.7 million as of June 30, up 29 percent from the same quarter a year ago. The increase was attributed to the bank’s acquisition of Platteville-based First Shares Inc.

“While mortgage loan originations increased over the same period in 2012, we expect the recent rise in long-term interest rates may slow residential mortgage loan growth,” said Kevin Tenpas, president and CEO. “In response, we continue to build mortgage loan capacity via expansion into new geographic markets.”

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