Statement on the release of first-quarter 2021 Federal Deposit Insurance Corporation (FDIC) numbers from Rose Oswald Poels, president and CEO of the Wisconsin Bankers Association
The second-quarter comparison of 2021 to 2020 shows that Wisconsin’s economy continues to improve after the initial impacts of the pandemic.
Total deposits grew 8.25% as Wisconsinites continued to put money into savings, and total assets rose 3.90%.
Borrowers are increasingly up to date on their payments, with noncurrent loans and leases down 27.60%.
Wisconsin banks’ performance remains healthy — banks reported revenue growth and improved asset quality.
“The numbers released today by the FDIC demonstrate the continued health of our state’s economy and show that banks are positioned for a positive finish to the rest of this year. As Paycheck Protection Program (PPP) loans are forgiven and fully paid off, banks are seeing some decline in loans. While net interest margin remains a concern looking ahead into 2022, all other indicators point to good health for banks, reflecting the financial health of customers and of the state overall.”
FDIC-Reported Wisconsin Numbers*
* Dollar figures in thousands