Loans and deposits grow at Associated Banc-Corp

Freeman Staff

Oct. 15, 2015

GREEN BAY — The average size of loans increased during the third quarter for Associated Banc-Corp, according to its earnings report Thursday.

The Green Bay-based financial institute said its average loans were $18.5 billion, an increase of 8 percent from a year ago quarter. Additionally, average total consumer loans grew $231 million, or 3 percent from the second quarter and average total commercial loans grew $34 million from the second quarter.

The company also reported that average deposits grew to a record $20.3 billion, up 14 percent from a year ago quarter.

The net income available to common shareholders of Associated Banc-Corp was $47 million, or $0.31 per common share, for the third quarter.  

“We have enjoyed strong deposit growth over the prior year and remarkable inflows during the third quarter. We are pleased to have increased our market share in each of the states in our branch footprint. Our continued focus on the customer experience has allowed us to gain market share in a competitive and transforming industry,” said President and CEO Philip B. Flynn in a statement. “As we anticipated, commercial loan growth slowed during the third quarter. Overall loan growth was supported by strong production in our residential lending area and we remain on track to deliver high single digit loan growth for the year.”