Wisconsin’s State-Chartered Banks Report Sound Year-End 2023 Financial Performance

​For Immediate Release: March 11, 2024

Wisconsin’s State-Chartered Banks Report Sound Year-End 2023 Financial Performance

MADISON, Wis. – Wisconsin’s state-chartered banks reported sound financial performance through year-end 2023, according to data released today by the Wisconsin Department of Financial Institutions (DFI). As of December 31, 2023, there were 119 state-chartered commercial banks serving Wisconsin residents.

At year-end 2023, total assets for Wisconsin’s state-chartered banks stood at $67.08 billion, down from $67.66 billion reported on December 31, 2022. The net interest margin declined slightly to 3.23% compared to 3.35% in December 2022. Net loans increased by 3.11% to $48.5 billion, up by $1.5 billion over the same time.

In the 12 months ending on December 31, 2023:

• The capital ratio remained satisfactory at 9.83%, an increase from 9.45% in December 2022;
• The past due ratio increased slightly to 0.69% from 0.59% in December 2022;
• Net operating income decreased to $605.6 million compared to $764.7 million in December 2022;
• The return on average assets ratio declined to 0.91% from 1.14% in December 2022; and
• Bank liquidity remained satisfactory but was impacted by the increase in the loans to assets ratio to 72.24% compared to 69.46% in December 2022.

“Wisconsin’s state-chartered banks have displayed modest earnings decline and tightening liquidity through year-end 2023, in response to persistently elevated interest rates and continuing loan growth,” said DFI Secretary-designee Cheryll Olson-Collins. “While some asset quality indicators have weakened, capital levels remain robust and continue to support the state’s economy and communities. Overall, the year-end financial indicators for Wisconsin’s state-chartered banks remain sound and show our banks remain financially stable.”

Additional information regarding Wisconsin’s state-chartered banks’ year-end 2023 financial performance is available in the DFI’s Bank Performance Indicator Report as of December 31, 2023.

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Media Contact Email: DFICommunications@dfi.wisconsin.gov​​