Associated Bank reports robust quarter

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.

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

As of Sept. 30, 2012, the company’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 company’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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