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State banks' profits up in 3Q, over year

11:00 PM, Dec. 5, 2012  |  Comments
Associated Banc-Corp, headquartered in Ashwaubenon, led in-state banks with net profit of $52 million in the quarter.
Associated Banc-Corp, headquartered in Ashwaubenon, led in-state banks with net profit of $52 million in the quarter.
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MADISON - State-chartered banks continue to report improved profits for the quarter and the year.

The Wisconsin Department of Financial Institutions said state-chartered banks posted earnings of $289.3 million for the first nine months of 2012, a 28 percent increase over the same period in 2011.

The FDIC, meanwhile, said banks in the state reported total net income of nearly $263 million for the third quarter, which ended Sept. 30, a 55 percent improvement.

Associated Banc-Corp, headquartered in Ashwaubenon, led in-state banks with net profit of $52 million in the quarter. Johnson Bank of Racine, which has offices in Green Bay, was second with $10.2 million in net profit.

"Loan quality continues to improve and capital levels remain at a 10-year high," said Peter Bildsten, secretary of DFI. "These trends bode well for the state's economy and Wisconsin consumers."

The FDIC said bank deposits, lending and assets increased and consumer debt declined.

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