Wisconsin banks reported combined net income of $726 million through the end of the third quarter, down from $736 million year-to-date in the third quarter of 2013, according to the Quarterly Banking Profile released today by the Federal Deposit Insurance Corp.
The report included 253 reporting institutions, down from 260 in the same period a year ago. Total assets were $101.6 billion, up from $97.6 billion in the third quarter of 2013. Total deposits were $79.9 billion, up from $79.1 million a year ago.
Lending was up, with $70.8 billion in total loans and leases, compared to $67.3 billion in the same period a year ago. The net loans and leases to assets ratio was 68.5 percent, compared to 67.6 percent a year ago.
Green Bay-based Associated Bank N.A. topped the Wisconsin banks, with $53.8 million in net income in the third quarter. The bank has $25.5 billion in total assets.
Madison-based John Deere Financial f.s.b. ranked second, with $26.6 million in net income for the quarter, followed by Milwaukee-based Northwestern Mutual Wealth Management, with $7 million in net income.
Racine-based Johnson Bank was fourth, with $6.2 million in net income, and Madison-based AnchorBank fsb rounded out the top five with $5.3 million in net income in the third quarter.
“Wisconsin’s banks play a critical role as an economic driver so it is good news for the Badger State that we saw a robust 14 percent increase in commercial lending over the past year,” said Rose Oswald Poels, president and chief executive officer of the Wisconsin Bankers Association. “As a whole, lending grew five percent during the same timeframe, highlighting that our banks are a key factor in the current and future growth of our state’s economy. The overall strong growth demonstrates that Wisconsin’s diverse banking industry continues to positively benefit both consumers and businesses.”