Feb. 26--Wisconsin banks raised their combined profits by nearly one-fourth in 2013 over 2012, according to reports by the Federal Deposit Insurance Corp. on Wednesday.
Wisconsin financial institutions insured by the FDIC reported combined earnings of $1 billion in 2013, an increase of 24 percent from combined earnings of $828 million a year ago and more than double their profits of $486 million for 2011.
Only 14 Wisconsin banks -- or 5.4 percent of the 260 institutions -- ended 2013 with a loss compared with 9.4 percent a year ago.
Baraboo National Bank, Baraboo, reported the biggest loss, at $22.1 million. Equitable Bank, Wauwatosa, had a net loss of $4 million, while Home Savings Bank, Madison, reported a $2.7 million loss for 2013.
Green Bay-based Associated Bank had the largest net income of the full-service banks, at $209.3 million, followed by Johnson Bank, Racine, at $135.1 million, and Guaranty Bank, Milwaukee, $17.1 million.
Loans and leases were up slightly, at a combined value of $67.2 billion, compared with $66.9 billion a year ago.
"Banks saw a positive improvement in almost every major measurement category," said Rose Oswald Poels, president and chief executive of the Wisconsin Bankers Association.
Nonperforming assets -- those at least 90 days overdue and not expected to be fully paid -- made up 1.75 percent of all assets, down from 2.49 percent as of Dec. 31, 2012, and 3.23 percent at the end of 2011.
Nationwide, financial institutions insured by the FDIC reported a total net income of $154.7 billion for 2013, a 9.6 percent rise over 2012. Only 7.8 percent were unprofitable -- the lowest percentage since 2005.
There were 24 bank failures across the U.S. in 2013, fewer than half of the 51 banks that were ordered closed in 2012.
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