Associated Bank grows on loans

Green Bay-based Associated Banc-Corp reported third quarter net income of $50.2 million, or 31 cents per share, up from $45.7 million, or 27 cents per common share, in the third quarter of 2013.

The company, which operates Associated Bank branches across Wisconsin and in Minnesota and Illinois, reported $25.7 billion in total assets, up from $23.7 billion in the same period a year ago.

Average loans increase to $17.1 billion, up 9 percent from a year ago. Average deposits increased 2 percent, to $17.9 billion. Net interest income was up 8 percent, to $173 million, and noninterest income was up 6 percent from last year.

“We are pleased with our strong results this quarter. Growth in loan interest income drove top line revenue higher.  We remain focused on investing in technology which is essential to sustain and improve operational efficiency,” said Philip Flynn, president and chief executive officer.  “We will continue our ongoing commitment to build long-term shareholder value at Associated with a focus on strengthening our franchise and deploying capital in a disciplined manner.”

 

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