MILWAUKEE (AP) — A new report says Wisconsin banks are rebounding from the economic downturn.
A report by the Federal Deposit Insurance Corp. Tuesday said earnings at Wisconsin banks jumped 72 percent in 2012.
The FDIC says Wisconsin's 266 banks had total profits of $839 million last year. That's up from $488 million in 2011.
Last year only 9 percent of Wisconsin banks were unprofitable. That compares with almost 14 percent in 2011 and 22 percent in 2010.
The improvements at Wisconsin banks follow a national trend. The FDIC says that in 2012, industry earnings totaled $141.3 billion — a 19 percent increase over 2011.
The Milwaukee Journal Sentinel (http://bit.ly/Zy1W1i) reports Wisconsin had no bank failures in 2012.
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com