Farm Loans And Deposits Help With Banks’ Steady Growth

5/27/17 – The head of the Wisconsin Bankers Association says the farming sector helped the state’s banks grow during the first quarter of 2017. The F-D-I-C says the 221 banks headquartered in the Badger State had a total net income of 280-million dollars from January through March, almost six-percent more than the same quarter of last year. Rose Oswald Poels, the state bankers’ C-E-O, says banks normally show steady growth early in the year, and 2017 reflects that as well. She says a 12-percent jump in farm loans and a two-percent rise in deposits helped. Total bank loans in the state grew by almost three-percent with fewer reserves set aside to cover a smaller amount of delinquent loans.