Banks based in Wisconsin saw their share of total deposits in the state grow more than a full percentage point in the past year, according to new data from the FDIC.
Wisconsin headquartered banks had 51.62% of deposits in the state as of June 30, up from 50.36% at the same point in 2021. The growth reversed a downward trend that saw market share for state banks decline from 53.83% in 2019.
Overall, deposits in the state grew to $205.9 billion, a 2.5% increase from 2021. The pace of growth was slower than recent years – 12% in 2021 and 18.6% in 2020 – when federal stimulus programs helped push deposits higher.
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