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.