A local bank executive agrees with a federal report showing increased lending by state-chartered banks reflecting a strong economy in Wisconsin. The Federal Deposit Insurance Corporation says for the first six months of 2019 state-chartered banks in Wisconsin increased their net loans by nearly six percent. The same institutions also saw net income grow by nearly ten-percent. Bank of Luxemburg President and CEO Tim Treml says that's fueling consumer confidence among Wisconsin employees.
Treml adds that even with employees working more hours to keep up with the demand on products employers are also borrowing money to stay productive.
The FDIC report also found that for the first half of 2019 98-percent of all state-chartered banks were profitable and nearly 66-percent saw earnings increases of over 2018.
