Lending, net income continue to rise
at state-chartered credit unions
MADISON - Lending increased 10.1% and net income rose 10.4% at Wisconsin's 144 state-chartered credit unions through the second quarter of 2016 compared to the prior year, according to data released today by the Department of Financial Institutions (DFI).
In the six months ending June 30, 2016:
- Total loans were $23.1 billion, up from $21.0 billion in the first two quarters of 2015.
- Net income totaled $154.3 million, up from $139.7 million.
- Net worth improved to 10.91%, up from 10.82%.
- The delinquent loan ratio was 0.69%, down from 0.81%.
The full press release may be found at www.wdfi.org/Newsroom/Press.
DFI leaders make multiple stops
during Cabinet on the Road event
DFI Secretary Lon Roberts and Deputy Secretary Jay Risch took to the road on July 11-12 as part of Governor Scott Walker's Cabinet on the Road in Western Wisconsin. The two were part of a contingent of State Cabinet officials joining Governor Walker and First Lady Tonette Walker in meetings with stakeholders in Barron, Buffalo, Chippewa, Dunn, Eau Claire, Pepin, Pierce, Polk, St. Croix and Trempealeau counties.
Roberts and Risch had one-on-one meetings with bank and credit union executives from Barron, Buffalo, Dunn, Eau Claire and Pepin counties. Roberts joined leaders from other state agencies at a tour of Common Man Brewing Co., downtown Ellsworth and the Ellsworth Cooperative Creamery. Risch was part of a visit to Benitz Farm LLC near Maiden Rock with representatives from the Wisconsin Housing and Economic Development Authority (WHEDA) and Security Financial Bank of Durand. Security Financial Bank and WHEDA collaborated on a $3.3 million construction loan that enabled Benitz Farm to undertake a major expansion that included a milking parlor, a free stall facility with nine pens, alley scrapers, and a manure pit.
In the photos above, Roberts poses outside Ellsworth Cooperative Creamery; Risch talked about dairy farming with Paul Rudersdorf, chief banking officer at Security Financial Bank.
New business entity filings tracking 5.5% ahead of prior year
MADISON - The number of new business entities formed in Wisconsin in the first six months of 2016 grew by 5.5% compared to same period in 2015, according to data compiled by the Department of Financial Institutions (DFI). As of June 30, 2016, new business filings totaled 22,557 compared to 21,379 in the same period in 2015.
The business formation data is compiled by DFI, which is the filing office for the creation of business entities in the state. DFI tracks new business entity creation on a monthly basis and posts the data on its website. The full report may be found on our Corporations, Historical Statistics page.
Secretary Roberts addresses Mortgage Bankers
Department of Financial Institutions Secretary Lon Roberts was the keynote speaker at the June 16 meeting of the Wisconsin Mortgage Bankers
Association (WMBA) meeting in Waukesha. He also presided over the installation of new officers and directors for the organization.
New officers and directors for the organization are: President, Michael Kellman, North Shore Bank; President-Elect, Joe Doyle, United Guaranty;
Secretary, Leo Spanuello, GSF Mortgage; Treasurer, Jan Brezina, National Mortgage Insurance; and Directors, Margaret Haagensen, Waterstone Bank,
Randy Reese, Pyramax Bank, Ron Stafslien, McFarland State Bank, John Walrath, Thompson, Kane and Company, and Peter Wilder, Godfrey & Kahn S.C.
Secretary Roberts' participation in the meeting was part of DFI's ongoing outreach efforts to stakeholder groups.