Judy Newman
The Wisconsin State Journal
August 28, 2009
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Many of Wisconsin’s financial institutions continue to struggle, according to a report by federal regulators.
The state’s 247 commercial banks reported a combined loss, year-to-date, of $84 million on June 30, a decline from the $87 million combined profit for the first quarter of 2009.
Wisconsin’s largest bank, Marshall & Ilsley Bank, Milwaukee, had total assets of $53.0 billion but also reported the largest net loss for the quarter, at $211.4 million, which was wider than its $76.6 million first-quarter loss.
Associated Bank, Green Bay, with assets of $23.6 billion, posted the second-largest net loss, at $15.8 million. Associated had reported a first-quarter profit of $48.8 million.
Madison-based AnchorBank, with assets of $5.3 billion, narrowed its net loss to $4.9 million from a $20.6 million loss for the previous quarter.
Fifty financial institutions across the state reported net losses for the second quarter according to the report Thursday by the Federal Deposit Insurance Corp.
The highest-earning commercial banks at the end of the three-month period were: Johnson Bank, Racine, $4.5 million in net income; River Valley Bank, Wausau, $4.9 million; National Exchange Bank & Trust, Fond du Lac, $4.0 million; Bank Mutual, Brown Deer, $4.0 million; and Waukesha State Bank, Waukesha, $3.5 million.
FPC Financial, the credit union arm of John Deere, based in Madison, reported earnings of $3.9 million for the quarter.
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