GREEN BAY —
With an increase in deposits from customers, Associated Banc-Corp
saw an increase in income during the third quarter.
According to a
Thursday announcement from the parent company of Associated Bank,
net income available to common equity was $63 million, or $0.41 per
common share, for the quarter ended Sept. 30. During the third
quarter of 2016, net income available to common equity was $52
million, or $0.34 per common share.
continues to benefit from its strong customer deposit franchise.
According to recently released FDIC 2017 Summary of Deposit data,
Associated increased its deposit market share across its footprint
and grew deposits by 10 percent in our Wisconsin market. Customer
deposits and funding, excluding network deposits, increased by a net
8 percent from the prior year and funded all of our year-over-year
growth,” said President and CEO Philip B. Flynn in a statement.
during the third quarter, when compared to the third quarter of
2016, average loans were $20.9 billion, which grew $846 million, or
4 percent, and average deposits were $22.4 billion, growing $1
billion, or 5 percent.