Associated Banc-Corp (ASB) Reports In-Line Q1 EPS

Associated Banc-Corp (NYSE: ASB) reported Q1 EPS of $0.50, in-line with the analyst estimate of $0.50.

• Average loans of $23.1 billion were up 5%, or $1.0 billion
• Average deposits of $24.6 billion were up 4%, or $0.9 billion
• Net interest income of $216 million increased $6 million, or 3%
• Net interest margin of 2.90% declined 2 basis points from 2.92%
• Provision for credit losses was $6 million, up from zero
• Noninterest income of $91 million increased 1%, or $1 million
• Noninterest expense of $192 million was down 10%, or $21 million
• Income before income taxes was up 25%, or $22 million
• During the quarter, the Company repurchased over 1 million shares, or $30 million, of common stock
• Total dividends paid per common share were $0.17, up 13%
• Return on average common equity Tier 1 increased to 13.6% from 11.4%

For earnings history and earnings-related data on Associated Banc-Corp (ASB) click here.

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