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Stock impact report

Associated Banc-Corp Q1 Earnings Beat as Revenues Rise, Provisions Dip [Yahoo! Finance]

Associated Banc-Corp (ASB) 
NASDAQ:AMEX Investor Relations: investor.associatedbank.com
Company Research Source: Yahoo! Finance
The bottom line compared favorably with 59 cents in the prior-year quarter. Results reflected higher net interest income (NII) and non-interest income. A rise in loans and deposit balances, and lower provisions acted as tailwinds. However, higher expenses were an undermining factor. Net income available to common equity was $117 million, up 18% year over year. Our estimate for the metric was $113.7 million. ASB's Revenues Rise, Expenses Up Total revenues (FTE basis) for the quarter were $387.2 million, up from $349 million in the prior-year quarter. The top line outpaced the Zacks Consensus Estimate of $385 million. NII was $309.2 million, increasing 7% year over year. The net interest margin was 3.03%, up 6 basis points (bps). The rise was driven by a lower average cost of total interest-bearing liabilities. We had expected NII and net interest yield to be $300.2 million and 3.04%, respectively. Non-interest income totaled $75.9 million, improving 29% from the prior-year Show less Read more
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