Associated sees earnings rise

Freeman Staff

Oct. 16, 2014

GREEN BAY Associated Banc-Corp on Thursday announced net income to common shareholders in the third quarter was $0.31 per share. In the second quarter, net income was $0.28 per share. Last year the company reported net income of $0.27 for the third quarter.

President and CEO Philop B. Flynn said that growth in loan interest drove top line revenue higher, adding the company intends to continue investing in technology to improve operational efficiency.

The company saw 3 percent growth in loans overall, with 6 percent growth in residential mortgages compared to the prior quarter. Deposits grew by 4 percent.

Third quarter net interest income of $173 million increased $4 million, or 2 percent compared to the prior quarter and $12 million, or 8 percent compared to the year ago quarter.