Wis. bank earnings rebound in 2012

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News,Business

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.

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Information from: Milwaukee Journal Sentinel, http://www.jsonline.com

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