Associated Bank reports robust quarter

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Green Bay-based Associated Banc-Corp reported third quarter net income of $45 million, or 26 cents per share, up from $34 million, or 20 cents per share, in the same period a year ago.

For the first nine months of 2012, the parent company of Associated Bank reported net income of $128 million, or 74 cents per share, up from $75 million, or 43 cents per share in the comparable period a year ago.

โ€œWe continue to be focused on taking advantage of the opportunities to grow Associated across the footprint,โ€ said president and chief executive officer Philip Flynn. โ€œWe are encouraged by the solid performance this quarter and we remain focused on delivering increased value for shareholders of Associated.โ€

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As of Sept. 30, 2012, the companyโ€™s loan portfolio was $15.0 billion, up $267 million, or 2 percent, from $14.7 billion at June 30, 2012, and up $1.5 billion, or 11 percent, from $13.5 billion a year ago.

The companyโ€™s commercial loans, which include general commercial loans, specialized lending, and commercial real estate, grew by $243 million, or 3 percent from the second quarter and have increased by $1.4 billion, or 19 percent from a year ago.

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