Wisconsin banks continue to bring in big profits

Associated Bank leads in second quarter net income

Last updated on May 14th, 2019 at 05:49 am

Wisconsin’s 208 federally-insured banks reported $696 million in net income in the first half of 2018, up from $565 million in the first half of 2017, according to the latest Quarterly Banking Profile from the FDIC.

While there are fewer banks reporting to the FDIC than at this point last year, down from 215, there are more full-time bank employees in the state, at 21,037, up from 20,775 in June 2017.

Total assets were $114.7 billion in the first half of 2018, up from $110.3 billion in 2017’s first six months. Total loans and leases were $83.7 billion, up from $80.3 billion in the first half of 2017.

The percentage of unprofitable institutions increased to 4.3 percent, up from 2.3 percent a year ago. Institutions with earning gains increased to 77.4 percent, up from 59.5 percent halfway through 2017. The proportion of net loans and leases to assets was flat at 72 percent. Noncurrent loans and leases to total loans and leases decreased to 0.83 percent, down from 0.93 percent in 2017’s first half.

Ranked individually by net income in the second quarter, Green Bay-based Associated Bank N.A. again led the way, with $90.2 million in net income.

Madison-based John Deere Financial f.s.b. was second with $21.9 million in net income in the second quarter. Milwaukee-based Northwestern Mutual Wealth Management ranked third at $18.8 million in second-quarter net income.

Racine-based Johnson Bank reported $12.3 million in net income in the second quarter, and Green Bay-based Nicolet National Bank’s net income was $9.8 million, putting it in the fifth spot.

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Molly Dill, former BizTimes Milwaukee managing editor.

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