2022 Annual Report:
Position of Strength
"We remain committed to the same values and principles that have allowed us to operate from a position of strength for more than 50 years. We exist for you – our clients, our associates and the communities we serve."
- Jim Popp, President and CEO
A Message From Our CEO
After challenging years in 2020 and 2021, we had high hopes that 2022 might be a bit less stressful for all of us. The worst of the pandemic was behind us, markets had recovered nicely, and businesses, communities, stores, and restaurants were slowly reopening. It felt like things were finally getting back to “normal.”
How wrong we were! As the year unfolded, the mixture of rising interest rates, rampant inflation, contentious politics, and a host of other issues combined to make 2022 feel a little like the hangover that just wouldn’t go away.
While rising rates and market volatility led to softer-than-planned results in our mortgage and wealth businesses, both businesses were able to manage the disruption and deliver solid overall performance for the company. Meanwhile, in the core banking business, rising rates drove a more balanced positioning of loan and deposit rates, and ultimately, strong growth in both our loan and deposit balances across the company. Finally, our insurance business continued its steady, consistent level of customer engagement and was a notable contributor to the diversified revenue mix of our company.
In the end, I am pleased to share that Johnson Financial group was able to put together another strong year serving our customers, associates and communities in Wisconsin and Minnesota.
As we move forward in 2023, we remain optimistic about the ongoing recovery taking place in our economy. And while it’s hard to predict the next “shock” to our system, we are confident in the way we have positioned our company to meet your needs now and into the future.
- Our balance sheet is stable, diversified, and well-positioned to allow us to capitalize on future opportunities. Strength & Stability | Johnson Financial Group
- JFG’s overall capital and Tier I Capital Ratio remain well in excess of regulatory standards for well-capitalized banks.
- We continue to invest in people, products, processes, and technology that will allow us to deliver the best possible experience for our customers and associates.
- As always, we remain committed to the communities we serve, with $2 million in annual giving budgeted in 2023.
In closing, I offer my gratitude to all who allow our company to serve the people and businesses in our area. To our customers, we thank you for your partnership and the trust you place in us. To our associates and trusted partners, we thank you for all you do to make JFG great every day. And finally, to those who don’t know us yet, we look forward to learning your story and earning the right to serve you.