Associated Banc-Corp (ASB) Tops Q1 EPS by 13c

Associated Banc-Corp (NYSE: ASB) reported Q1 EPS of $0.58, $0.13 better than the analyst estimate of $0.45.

• Average loans of $24.5 billion were up 5%, or $1.2 billion
• Average deposits of $26.8 billion were up 10%, or $2.5 billion
• Noninterest expense of $175 million decreased 9%, or $17 million
• Noninterest income of $95 million decreased 3%, or $3 million
• Net interest income of $176 million decreased 13%, or $27 million
• Net negative provision for credit losses of $23 million, down $76 million
• Net income available to common equity of $89 million increased 112%, or $47 million
• Earnings per common share of $0.58 increased 115%, or $0.31 per common share
• Tangible book value per share was $16.95, up 16% from $14.64
• Facilitated $293 million of new PPP loans for over 4,100 customers

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

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