Contact: Eric Skrum, 608/441-1216 (o), 608/445-6430 (c),
eskrum@wisbank.com
From Rose Oswald Poels, president/CEO of the Wisconsin Bankers Association
“Wisconsin banks. Wisconsin strong. That’s the theme the Wisconsin Bankers Association has been using to celebrate its 125th anniversary and also reflects the stable, steady growth banks are achieving according to the latest FDIC quarterly numbers. Overall lending grew to over $76 billion, a 3.6% increase when compared to the same timeframe in 2015. Helping that growth, we saw farm loans increase 18%, from $3 billion to $3.6 billion while farmland loans increased 10%, from $2.8 billion to $3.2 billion.
Wisconsin banks continue to move forward despite a wide variety of obstacles challenging the industry, such as a prolonged low interest rate environment; compliance and technology costs escalating every year; and the number of bank mergers in Wisconsin continuing to increase (21 mergers were announced in 2016 compared to 12 in 2015, which was considered a large number at the time).
The latest FDIC numbers continue to highlight the fact that the diversity of Wisconsin’s strong banking industry directly benefits Wisconsin consumers. Wisconsin banks remain committed to helping businesses grow and families prosper, creating thriving communities. Our institutions are healthy, well-capitalized and ready to help keep our economy growing.”
The Wisconsin Bankers Association is the state’s largest financial industry trade association, representing nearly 260 commercial banks and savings institutions, their nearly 2,300 branch offices and 23,000 employees.
