Associated Bank reports increased average loan growth, decrease in deposits

Special to The Freeman

April 17, 2014

GREEN BAY – Associated Banc-Corp reported Thursday that during its first quarter the average loan increased 3 percent compared to the fourth quarter 2013 but average deposits declined 5 percent compared to the fourth quarter.

The bank also reported net income to common shareholders of $44 million, or $0.27 per common share, for the quarter ended March 31, 2014.

“We are pleased with our solid results this quarter and remain optimistic about our long-term prospects. This quarter’s strong performance was driven by robust loan growth, particularly in our Commercial lines of business,” said President and CEO Philip B. Flynn in a statement. “In this environment, we remain focused on our strategies to enhance efficiency and manage expenses. We will continue to look for opportunities to deploy capital which are consistent with our commitment of building long-term shareholder value at Associated.”

Average loans of $16.2 billion increased $416 million, or 3 percent from the fourth quarter, and have increased $716 million on average or 5 percent, from the year ago quarter, according to Associated. First quarter average deposits of $17 billion declined $891 million, or 5 percent compared to the fourth quarter and have declined $156 million, or 1 percent, from the year ago quarter, according to the company.
 
www.associatedbank.com