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Associated Bank reports 64% increase in quarterly profits

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Associated Bank logo
Associated Bank logo

GREEN BAY, WI (WTAQ) - The largest bank that’s headquartered in Wisconsin reports a 64% increase in its quarterly profits from a year ago. Associated Banc-Corp of Green Bay reports a net income of $42-million, or 24-cents a share, for April through June. That’s up from a $26-million net income in the same quarter a year ago, with earnings of 15-cents a share. This year’s earnings were the same as what outside analysts had predicted. The bank said its overall lending grew by 12% over the past year, with a total loan portfolio of almost $15-billion. And the bank did not have to add to its reserves to cover bad loans. A year ago, Associated added $16-million to those reserves in the second quarter. For the first half of this year, Associated’s net income grew by around 100% from a year ago, to $83-million.

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