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.