For Immediate Release: June 8, 2023
Wisconsin’s State-Chartered Banks Report Sound First-Quarter Financial Performance
MADISON, Wis. – Wisconsin’s 125 state-chartered banks continue to demonstrate sound financial performance as of March 31, 2023, according to data released today by the Wisconsin Department of Financial Institutions (DFI).
Total assets of Wisconsin’s state-chartered banks stand at $66.1 billion through March 31, 2023, down from $68.0 billion reported March 31, 2022. The net interest margin has improved, increasing from 3.11% as of March 31, 2022, to 3.32% as of March 31, 2023. Net loans have increased by 6.3% from March 31, 2022, up $2.8 billion.
In the twelve months ending on March 31, 2023:
- The capital ratio remained satisfactory at 9.77% compared to 10.05% in March 2022;
- The past due ratio improved to 0.55% from 0.64% in March 2022;
- Net operating income was $162.7 million, down from $190.3 million in March 2022 due, in part, to the end of the Paycheck Protection Program fee income and declining secondary market income;
- The return on average assets ratio declined to 0.97% from 1.13% in March 2022; and
- Bank liquidity remained adequate but was impacted by the increase in the loans to assets ratio at 70.61% compared to 64.58% in March 2022.
“Wisconsin’s state-chartered banks displayed sound financial decisions and financial performance through the first quarter of this year despite changing economic conditions and interest rates continuing to rise,” said DFI Secretary-designee Cheryll Olson-Collins. “Overall, Wisconsin’s state-chartered banks are financially stable and a source of strength for the economy.”
To learn more, read the DFI’s Bank Performance Indicator Report as of March 31, 2023.
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Media Contact Email: DFICommunications@dfi.wisconsin.gov