MADISON, WI (WTAQ) - Wisconsin’s banking industry continues to recover from the Great Recession.
The FDIC said Tuesday that the state’s 266 banks made a combined $839 million in profits last year, up from $488 million the previous year.
That’s a big increase of 72 percent – and it’s much bigger than the national jump in profits of 19 percent. Only 9 percent of the banks failed to make money.
That’s better than the 14 percent from 2011, and 22 percent from 2010.
The FDIC also said that only 2.5 percent of Wisconsin’s bank loans were non-current at the end of 2012. That’s down from about 3.5 percent the year before.