Wisconsin banks reported combined net income of $497 million in the second quarter, up from $407 million in the same period a year ago, according to the Quarterly Banking Profile released by the Federal Deposit Insurance Corp.
The report included 261 reporting institutions, down from 270 last year. Total assets were $97.3 million, up slightly from $97.1 million in the same period a year ago. Total deposits were $77.5 million, up from $76.2 million in the second quarter of 2012.
Lending again remained flat, with $67.3 million in total loans and leases.
Green Bay-based Associated Bank topped Wisconsin banks, reporting $52.4 million in net income for the quarter. The bank has $23.3 billion in total assets.
John Deere Financial of Madison was next, with $23.8 million in net income in the second quarter. Racine-based Johnson Bank was third, with $14.7 million in net income, Northwestern Mutual Wealth Management was fourth, with $8.1 million in net income, and WaterStone Bank of Wauwatosa came in fifth with $4.8 million in net income.
The Wisconsin Bankers Association pointed to the report as a sign of healthier institutions across the state.
“Wisconsin banks are strong, stable and ready to lend,” said Rose Oswald Poels, president and CEO of the WBA. “The latest quarterly numbers from the FDIC are simply a confirmation of the return to health for the banking industry. The numbers also reflect greater regulator confidence in Wisconsin’s banks as a whole. While market and regulatory pressures remain, Wisconsin banks are in the best position in years to serve Wisconsin’s consumers and improve the state’s economy.”
The 194 state-chartered banks saw earnings rise about 29 percent in the first half of the year, compared to the same period last year, according to the Wisconsin Department of Financial Institutions.
Their first half net income was $231 million, up from $179 million a year ago. State-chartered banks decreased the past-due loan ration from 3.98 percent to 2.83 percent.