GREEN BAY — On Thursday, Associated Banc-Corp reported
net income to common shareholders of $48 million, or $0.31 per
common share, for the second quarter, but that it also intends to
close 13 branches during the second half of the year.
“Steady loan growth, strong fee
revenues, and a benign credit environment have all contributed to
this quarter’s solid performance,” said President and CEO Philip B.
Flynn in a statement. “We continue to optimize our delivery
strategies, in terms of branches and digital channels, in response
to evolving customer preferences. We are investing in more digital
and mobile solutions, while being capital and expense disciplined.”
The 13 branch closures,
according to the report, reflect changing customer branch usage
patterns and a continuing shift to digital banking solutions.
Associated Bank will experience approximately $3 million related to
the closures this year, and should result in net savings in 2016 and
beyond, according to the company.
Other second quarter highlights
included average loans growing $373 million, or 2 percent from the
first quarter and average total commercial loans growing $220
million, or 2 percent from the first quarter.
Average deposits grew $571
million, or 3 percent from the first quarter and average money
market and savings balances grew a combined $523 million, or 5
percent from the first quarter, according to the release.