Associated Banc-Corp reports increased earnings for year and quarter

Special to The Freeman

Jan. 22, 2015

GREEN BAY — The net income for Associated Banc-Corp increased during 2014 by $2 million, according to a company announcement Thursday.

According to the report, the parent company of Associated Bank, said the income to common shareholders of $186 million, or $1.16 per common share for the last fiscal year, which is an increase compared to the year prior which had net income of $184 million, or $1.10 per common share.

For the fourth quarter of 2014, Associated reported an increase of three cents per common share for a total of $0.31 when compared to the same quarter in 2013.

“Overall we are pleased with this year’s financial results and accomplishments. We continued to grow our balance sheet, total revenues, and bottom line earnings. In addition, we have continued to make substantial investments in the bank which will position us for the future, while slightly reducing total expenses,” said President and CEO Philip B. Flynn in a statement. “We remain focused on opportunistic ways to deploy capital while delivering increased value to our shareholders. We are also happy to kick off 2015 with last week's announcement regarding the acquisition of the insurance agency, Ahmann-Martin.”

In 2014, average loans grew $1.2 billion, or 8 percent from a year ago to $16.8 billion, according to Associated. Average total commercial loan balances grew $1 billion, or 10 percent from last year and average deposits grew $209 million, or 1 percent from a year ago to $17.6 billion.

The company also reported average checking balances grew $119 million, or 2 percent from last year.
Green-Bay based Associated Banc-Corp has total assets of $27 billion and is one of the top 50, publicly traded, U.S. bank holding companies.

More information about Associated Banc-Corp is available at www.associatedbank.com.