Associated Bank reports $45 million in net income during 1Q

Freeman Staff

April 16, 2015

GREEN BAY — Associated Banc-Corp reported Thursday an increase of $1 million in its net income during the first quarter of 2015 compared to the same period in 2014.

The total net income for the first quarter of 2015 was $45 million, or $0.30 per common share, compared to $44 million, or $0.27 per common share, for the quarter ended March 31, 2014.

“We are pleased to report another quarter of solid results. Continued loan growth, a strong boost in insurance revenues, and a benign credit environment all helped drive this quarter’s performance,” said President and CEO Philip B. Flynn in a statement. “We remain focused on our strategies to enhance efficiency and on opportunities for disciplined capital deployment.”

The Green Bay-based company reported that average loans grew $428 million or 2 percent from the fourth quarter and average total commercial loan balances grew $309 million, or 3 percent from the fourth quarter, and accounted for the majority of this quarter’s average loan growth.

In addition, average deposits grew $523 million or 3 percent from the fourth quarter and net interest income of $168 million increased $3 million or 2 percent from the comparable year ago period, according to the announcement.

www.associatedbank.com