Aug. 28--Led by Marshall & Ilsley M&I Bank of Milwaukee, 30 Wisconsin banks reported losses during the second quarter ending June 30, up from 18 during the first quarter, according to financial information reported to the Federal Deposit Insurance Corp. (FDIC)

M&I's reported loss of $388 million was more than 10 times the losses of the other 29 unprofitable banks combined.

M&I's heavy losses also had an impact on the overall profitability of Wisconsin banks. The state's 254 commercial banks insured by the FDIC reported net income of $86 million during the quarter, down from $700 million during the same period a year ago.

Seven unprofitable area banks and their second-quarter losses were Farmers & Merchants Bank of Tomah, $726,000; First National Bank of Platteville, $507,000; Settlers Bank of DeForest (which opened Dec. 3), $323,000; Mid America Bank of Janesville, $93,000; Black Earth State Bank, $29,000; Milton Savings Bank, $24,000; and Town and Country Bank of Watertown, $1,000.

Home Savings Bank of Madison recorded a $39,000 profit during the second quarter after posting a $4,000 loss for the previous quarter.

The state's most profitable banks during the second quarter were Associated Bank of Green Bay, $50.6 million; FPC Financial (John Deere Credit) of Madison, $10.9 million; Johnson Bank of Racine, $9.3 million; and AnchorBank of Madison, $6.9 million.

Nationally, bank profits plunged by 86 percent during the second quarter and 117 banks and thrifts were considered by the FDIC to be in trouble. The troublesome banks were not identified.

-----

To see more of The Wisconsin State Journal, or to subscribe to the newspaper, go to http://www.wisconsinstatejournal.com.

Copyright (c) 2008, The Wisconsin State Journal

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

NASDAQ-OTCBB:CYHC,