Wisconsin banks report higher profit, increased lending in Q1

Wisconsin’s financial institutions reported net income of $259 million in the first quarter, up from $226 million in the first quarter of 2014, according to the Quarterly Banking Profile released last week by the Federal Deposit Insurance Corp.

There were 247 FDIC-insured institutions with 22,323 full-time employees reporting in the first quarter, down from 257 institutions with 22,623 employees in the same period a year ago.

The banks’ assets totaled $102.9 billion, up from $99.5 billion in the first quarter of 2014.

Lending was up in the quarter, with $71.6 billion in total loans and leases, compared with $67.8 billion in the year ago quarter.

The net loans and leases to assets condition ratio was 68.4 percent in the first quarter, up from 66.9 percent in the first quarter of 2014.

Green Bay-based Associated Bank N.A. led Wisconsin banks in the quarter, with net income of $52.2 million. Associated remained the largest financial institution in the state by asset size, with $26.9 billion in total assets.

Madison-based John Deere Financial f.s.b. ranked second, with $17.7 million in net income. It has $2.1 billion in total assets. Waupaca-based First National Bank came in third, with $8.9 million in net income. It has $633.2 million in total assets.

Racine-based Johnson Bank, with $7.4 million in net income and $3.9 billion in total assets, ranks fourth. Madison-based AnchorBank fsb, with net income of $6.4 million and total assets of $2.1 billion, rounded out the top five.

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