FDIC quarterly numbers show economic rebound

In a statement from the Wisconsin Bankers Association, President and CEO Rose Oswald Poels said the recent FDIC Quarterly Banking Profile shows banks’ financial strength and an improving economy. State residents continue to save money as deposits have increased 17% compared to the same period last year. Loan volume grew slightly and there was an 11% decrease in noncurrent loans and leases, demonstrating that customers are keeping up on their payments. Commercial and industrial loans grew nearly 20% due in part to the Paycheck Protection Program lending.