Associated Banc-Corp (ASB) Tops Q1 EPS by 3c

Associated Banc-Corp (NYSE: ASB) reported Q1 EPS of $0.35, $0.03 better than the analyst estimate of $0.32.

FIRST QUARTER SUMMARY

• Average loans of $20.1 billion grew $1.1 billion, or 6% from the year ago quarter
• Average deposits of $21.5 billion grew $891 million, or 4% from the year ago quarter
• Net interest income of $180 million increased $8 million, or 5% from the year ago quarter
• Net interest margin of 2.84% improved from 2.81% in the year ago quarter
• Provision for credit losses of $9 million decreased $11 million, or 55% from the year ago quarter
• Noninterest income of $80 million reflected less investment gains from the year ago quarter
• Noninterest expense was essentially flat at $174 million from the year ago quarter
• Return on average common equity Tier 1 (CET1) was 10.6%
• Total dividends per common share of $0.12 were up 9% from the year ago quarter
• Capital ratios remain strong with a CET1 ratio of 9.9% at quarter end

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

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