GREEN BAY, Wis., April 16, 2015 /PRNewswire/ -- Associated
Banc-Corp (NYSE: ASB) today reported net income to common
shareholders of $45 million, or
$0.30 per common share, for the
quarter ended March 31, 2015.
This compares to net income to common shareholders of $44 million, or $0.27 per common share, for the quarter ended
March 31, 2014.
"We are pleased to report another quarter of solid
results. Continued loan growth, a strong boost in insurance
revenues, and a benign credit environment all helped drive this
quarter's performance," said President and CEO Philip B. Flynn. "We remain focused on our
strategies to enhance efficiency and on opportunities for
disciplined capital deployment."
HIGHLIGHTS
- Average loans grew $428 million
or 2% from the fourth quarter
- Average total commercial loan balances grew $309 million, or 3% from the fourth quarter, and
accounted for the majority of this quarter's average loan
growth
- Average deposits grew $523
million or 3% from the fourth quarter
- Net interest income of $168
million increased $3 million
or 2% from the comparable year ago period
- Noninterest income of $80 million
increased $10 million or 15% from the
fourth quarter
- Insurance commissions increased $9
million from the fourth quarter
- Noninterest expenses of $174
million increased $2 million
or 1% from the fourth quarter
- Pretax income of $69 million
increased $2 million or 2% from the
fourth quarter
- During the first quarter, the Company repurchased $30 million, or approximately 1.7 million shares,
of common stock at an average cost of $17.27 per share
- Return on average Tier 1 common equity was 10.22% for the first
quarter
- Capital ratios remain strong with a Tier 1 common equity ratio
of 9.39% at March 31, 2015
FIRST QUARTER 2015 FINANCIAL RESULTS
Loans
Average loans of $17.8 billion
increased $428 million, or 2% from
the fourth quarter, and have increased $1.7
billion, or 10% from the year ago quarter. Total
commercial loans grew $309 million on
average from the fourth quarter and are up $1.1 billion from the prior year.
Commercial and business lending average balances grew $272 million, or 4% on a linked-quarter
basis. Commercial real estate lending average balances
grew $37 million, or 1% from the
fourth quarter. Total average consumer loans were up
$119 million compared to the prior
quarter as the growth in residential mortgage average balances of
$174 million was partially offset by
continued, but slower, run off in home equity and installment
loans.
Deposits
Average deposits of $19.1 billion
for the first quarter were up $523
million, or 3% compared to the fourth quarter and have
increased $2.1 billion, or 12%, from
the year ago quarter. Money market average balances increased
$444 million, or 5% from the fourth
quarter, and were up $1.5 billion, or
21% from the year ago quarter. Average checking balances have
increased four consecutive quarters and were up slightly from the
fourth quarter. Average time deposits increased $45 million during the quarter marking a reversal
of recent trends.
Net Interest Income and Net Interest Margin
First quarter net interest income of $168
million was up $3 million, or
2% from the year ago quarter, but down $7
million from the fourth quarter. First quarter
interest recoveries and prepayments were down $2 million relative to the fourth quarter.
In addition, long-term funding costs increased $2 million from the fourth quarter. Lastly,
the day count difference between the first and fourth quarters
resulted in expected lower net interest income of approximately
$2 million.
First quarter net interest margin was 2.89%, a decrease of 15
basis points from the 3.04% reported in the fourth
quarter. The first quarter yield on earning assets
declined 12 basis points from the prior quarter. The majority
of this decline is attributed to continued loan yield
compression. In addition, lower interest recoveries and
prepayments accounted for 3 basis points of the decline in earning
asset yields. The majority of the 4 basis point,
quarter over quarter increase in total funding costs is related to
the full effect of the carrying cost of the Company's $500 million debt issued in November 2014.
Noninterest Income and Expense
Noninterest income for the first quarter was $80 million, up $10
million or 15% from the fourth quarter, and up $7 million or 9% from the year ago quarter.
The Ahmann & Martin Co. acquisition closed during the first
quarter and largely contributed to a $9
million increase in insurance commissions from the fourth
quarter. Mortgage banking income increased $4 million from the prior quarter. First
quarter net asset gains of $1 million
were down $3 million from the prior
quarter.
Total noninterest expense for the quarter ended March 31, 2015 was $174
million, up $2 million or 1%
from the fourth quarter. Personnel expense increased
$3 million from the fourth quarter,
largely attributed to the Ahmann & Martin Co. acquisition which
added approximately 120 colleagues. Occupancy expenses
increased by $3 million from the
previous quarter, primarily related to a lease termination charge,
as we further consolidated office space in Chicago.
Business development and advertising expenses declined $3 million from the previous quarter,
predominantly related to seasonal advertising during the fourth
quarter.
Taxes
First quarter income taxes were $22
million with an effective tax rate of 32%, compared to
$21 million with an effective tax
rate of 31% in the year ago period.
Credit
Net charge offs of $6 million for
the first quarter were up $1 million
from the fourth quarter, and were up slightly from the year ago
quarter. Potential problem loans of $219 million increased $28
million from the prior quarter. The first quarter provision
for credit losses was essentially flat from the prior quarter at
$5 million.
The Company's allowance for loan losses was $265 million, equal to 1.48% of loans and
reflects a coverage ratio of 152% of nonaccrual loans at
March 31, 2015.
Nonaccrual loans of $174 million
were down 2% compared to both the fourth quarter and the year ago
quarter. The ratio of nonaccrual loans to total loans was
down from the previous quarter and stands at 0.97%.
Capital Ratios
During the first quarter, the Company repurchased $30 million of common stock in several open
market transactions.
The Company's capital position remains strong, with a Tier 1
common equity ratio of 9.39% at March
31, 2015. The Company's capital ratios continue to be
in excess of the Basel III "well-capitalized" regulatory benchmarks
on a fully phased in basis.
FIRST QUARTER 2015 EARNINGS RELEASE CONFERENCE CALL
The Company will host a conference call for investors and
analysts at 4:00 p.m. Central Time
(CT) today, April 16, 2015.
Interested parties can listen to the call live on the internet
through the investor relations section of the company's website,
https://www.associatedbank.com/investor or by dialing 877-407-8037.
The slide presentation for the call will be available on the
company's website just prior to the call. The number for
international callers is 201-689-8037. Participants should ask the
operator for the Associated Banc-Corp first quarter 2015 earnings
call.
An audio archive of the webcast will be available on the
company's website at https://www.associatedbank.com/investor
approximately fifteen minutes after the call is over.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of
$27 billion and is one of the top 50,
publicly traded, U.S. bank holding companies. Headquartered in
Green Bay, Wis., Associated is a
leading Midwest banking franchise, offering a full range of
financial products and services in over 200 banking locations
serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services
in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal
Housing Lender, Equal Opportunity Lender and Member FDIC. More
information about Associated Banc-Corp is available at
www.associatedbank.com.
FORWARD LOOKING STATEMENTS
Statements made in this document which are not purely
historical are forward-looking statements, as defined in the
Private Securities Litigation Reform Act of 1995. This includes any
statements regarding management's plans, objectives, or goals for
future operations, products or services, and forecasts of its
revenues, earnings, or other measures of performance. Such
forward-looking statements may be identified by the use of words
such as "believe", "expect", "anticipate", "plan", "estimate",
"should", "will", "intend", "outlook", or similar
expressions. Forward-looking statements are based on current
management expectations and, by their nature, are subject to risks
and uncertainties. Actual results may differ materially from those
contained in the forward-looking statements. Factors which
may cause actual results to differ materially from those contained
in such forward-looking statements include those identified in the
Company's most recent Form 10-K and subsequent SEC filings.
Such factors are incorporated herein by reference.
NON-GAAP FINANCIAL MEASURES
This press release contains references to measures which are
not defined in generally accepted accounting principles ("GAAP"),
including "efficiency ratio," "Tier 1 common equity", and "core
fee-based revenue." Information concerning these non-GAAP
financial measures can be found in the attached tables.
|
Investor
Contact:
|
|
Brian Klaus, Senior
Vice President, Director of Investor Relations
|
|
920-491-7059
|
|
Media
Contact:
|
|
Cliff Bowers, Senior
Vice President, Director of Public Relations
|
|
920-491-7542
|
|
Associated
Banc-Corp
Consolidated Balance Sheets (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
March 31,
2015
|
|
December 31,
2014
|
|
Seql Qtr
$ Change
|
|
September 30,
2014
|
|
June 30,
2014
|
|
March 31,
2014
|
|
Comp Qtr
$ Change
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
|
$
|
355,541
|
|
$
|
444,113
|
|
$
|
(88,572)
|
|
$
|
381,287
|
|
$
|
549,883
|
|
$
|
526,951
|
|
$
|
(171,410)
|
|
Interest-bearing
deposits in other financial institutions
|
|
488,426
|
|
571,924
|
|
(83,498)
|
|
74,945
|
|
78,233
|
|
92,071
|
|
396,355
|
|
Federal funds sold
and securities purchased under agreements to resell
|
|
3,380
|
|
16,030
|
|
(12,650)
|
|
18,320
|
|
18,135
|
|
4,400
|
|
(1,020)
|
|
Securities held to
maturity, at amortized cost
|
|
438,047
|
|
404,455
|
|
33,592
|
|
301,941
|
|
246,050
|
|
193,759
|
|
244,288
|
|
Securities available
for sale, at fair value
|
|
5,358,310
|
|
5,396,812
|
|
(38,502)
|
|
5,345,422
|
|
5,506,379
|
|
5,277,908
|
|
80,402
|
|
Federal Home Loan
Bank and Federal Reserve Bank stocks, at cost
|
|
189,222
|
|
189,107
|
|
115
|
|
188,875
|
|
186,247
|
|
181,360
|
|
7,862
|
|
Loans held for
sale
|
|
159,963
|
|
154,935
|
|
5,028
|
|
141,672
|
|
78,657
|
|
46,529
|
|
113,434
|
|
Loans
|
|
17,979,032
|
|
17,593,846
|
|
385,186
|
|
17,159,090
|
|
17,045,052
|
|
16,441,444
|
|
1,537,588
|
|
Allowance for loan
losses
|
|
(265,268)
|
|
(266,302)
|
|
1,034
|
|
(266,262)
|
|
(271,851)
|
|
(267,916)
|
|
2,648
|
|
Loans, net
|
|
17,713,764
|
|
17,327,544
|
|
386,220
|
|
16,892,828
|
|
16,773,201
|
|
16,173,528
|
|
1,540,236
|
|
Premises and
equipment, net
|
|
274,591
|
|
274,688
|
|
(97)
|
|
272,283
|
|
264,735
|
|
269,257
|
|
5,334
|
|
Goodwill
|
|
968,774
|
|
929,168
|
|
39,606
|
|
929,168
|
|
929,168
|
|
929,168
|
|
39,606
|
|
Other intangible
assets, net
|
|
77,984
|
|
67,582
|
|
10,402
|
|
69,201
|
|
70,538
|
|
72,629
|
|
5,355
|
|
Trading
assets
|
|
42,336
|
|
35,163
|
|
7,173
|
|
34,005
|
|
40,630
|
|
40,822
|
|
1,514
|
|
Other
assets
|
|
998,402
|
|
1,010,253
|
|
(11,851)
|
|
1,003,875
|
|
985,930
|
|
997,815
|
|
587
|
|
Total
assets
|
|
$
|
27,068,740
|
|
$
|
26,821,774
|
|
$
|
246,966
|
|
$
|
25,653,822
|
|
$
|
25,727,786
|
|
$
|
24,806,197
|
|
$
|
2,262,543
|
|
Liabilities and
Stockholders' Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
demand deposits
|
|
$
|
4,570,872
|
|
$
|
4,505,272
|
|
$
|
65,600
|
|
$
|
4,302,454
|
|
$
|
4,211,057
|
|
$
|
4,478,981
|
|
$
|
91,891
|
|
Interest-bearing
deposits
|
|
15,280,720
|
|
14,258,232
|
|
1,022,488
|
|
13,898,804
|
|
13,105,202
|
|
13,030,946
|
|
2,249,774
|
|
Total
deposits
|
|
19,851,592
|
|
18,763,504
|
|
1,088,088
|
|
18,201,258
|
|
17,316,259
|
|
17,509,927
|
|
2,341,665
|
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
|
587,272
|
|
493,991
|
|
93,281
|
|
765,641
|
|
959,051
|
|
939,254
|
|
(351,982)
|
|
Other short-term
funding
|
|
75,265
|
|
574,297
|
|
(499,032)
|
|
664,539
|
|
1,378,120
|
|
308,652
|
|
(233,387)
|
|
Long-term
funding
|
|
3,429,925
|
|
3,930,117
|
|
(500,192)
|
|
2,931,547
|
|
2,931,809
|
|
2,932,040
|
|
497,885
|
|
Trading
liabilities
|
|
44,730
|
|
37,329
|
|
7,401
|
|
36,003
|
|
43,311
|
|
43,450
|
|
1,280
|
|
Accrued expenses and
other liabilities
|
|
197,818
|
|
222,285
|
|
(24,467)
|
|
185,256
|
|
169,290
|
|
171,850
|
|
25,968
|
|
Total
liabilities
|
|
24,186,602
|
|
24,021,523
|
|
165,079
|
|
22,784,244
|
|
22,797,840
|
|
21,905,173
|
|
2,281,429
|
|
Stockholders'
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred
equity
|
|
59,727
|
|
59,727
|
|
—
|
|
61,024
|
|
61,024
|
|
61,158
|
|
(1,431)
|
|
Common
stock
|
|
1,674
|
|
1,665
|
|
9
|
|
1,719
|
|
1,750
|
|
1,750
|
|
(76)
|
|
Surplus
|
|
1,505,170
|
|
1,484,933
|
|
20,237
|
|
1,583,032
|
|
1,628,356
|
|
1,623,323
|
|
(118,153)
|
|
Retained
earnings
|
|
1,509,967
|
|
1,497,818
|
|
12,149
|
|
1,466,525
|
|
1,432,518
|
|
1,402,549
|
|
107,418
|
|
Accumulated other
comprehensive income (loss)
|
|
24,800
|
|
(4,850)
|
|
29,650
|
|
(1,725)
|
|
10,494
|
|
(11,577)
|
|
36,377
|
|
Treasury
stock
|
|
(219,200)
|
|
(239,042)
|
|
19,842
|
|
(240,997)
|
|
(204,196)
|
|
(176,179)
|
|
(43,021)
|
|
Total stockholders'
equity
|
|
2,882,138
|
|
2,800,251
|
|
81,887
|
|
2,869,578
|
|
2,929,946
|
|
2,901,024
|
|
(18,886)
|
|
Total
liabilities and stockholders' equity
|
|
$
|
27,068,740
|
|
$
|
26,821,774
|
|
$
|
246,966
|
|
$
|
25,653,822
|
|
$
|
25,727,786
|
|
$
|
24,806,197
|
|
$
|
2,262,543
|
|
Associated
Banc-Corp
Consolidated Statements of Income (Unaudited)—Quarterly Trend
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sequential
Qtr
|
|
|
|
|
|
|
|
Comparable
Qtr
|
|
(in thousands,
except per share amounts)
|
|
1Q15
|
|
4Q14
|
|
$ Change
|
|
%
Change
|
|
3Q14
|
|
2Q14
|
|
1Q14
|
|
$ Change
|
|
%
Change
|
|
Interest
Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on
loans
|
|
$
|
151,945
|
|
$
|
156,536
|
|
$
|
(4,591)
|
|
(2.9)%
|
|
$
|
152,030
|
|
$
|
146,629
|
|
$
|
143,387
|
|
$
|
8,558
|
|
6.0%
|
|
Interest and
dividends on investment securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable
|
|
25,092
|
|
25,061
|
|
31
|
|
0.1%
|
|
25,037
|
|
26,109
|
|
26,257
|
|
(1,165)
|
|
(4.4)%
|
|
Tax-exempt
|
|
7,887
|
|
7,580
|
|
307
|
|
4.1%
|
|
7,483
|
|
7,030
|
|
6,971
|
|
916
|
|
13.1%
|
|
Other
interest
|
|
1,692
|
|
1,821
|
|
(129)
|
|
(7.1)%
|
|
1,503
|
|
1,862
|
|
1,449
|
|
243
|
|
16.8%
|
|
Total interest
income
|
|
186,616
|
|
190,998
|
|
(4,382)
|
|
(2.3)%
|
|
186,053
|
|
181,630
|
|
178,064
|
|
8,552
|
|
4.8%
|
|
Interest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on
deposits
|
|
7,619
|
|
7,319
|
|
300
|
|
4.1%
|
|
6,621
|
|
6,195
|
|
6,159
|
|
1,460
|
|
23.7%
|
|
Interest on Federal
funds purchased and securities sold under agreements to
repurchase
|
|
231
|
|
218
|
|
13
|
|
6.0%
|
|
390
|
|
306
|
|
305
|
|
(74)
|
|
(24.3)%
|
|
Interest on other
short-term funding
|
|
81
|
|
156
|
|
(75)
|
|
(48.1)%
|
|
233
|
|
280
|
|
116
|
|
(35)
|
|
(30.2)%
|
|
Interest on long-term
funding
|
|
10,872
|
|
8,644
|
|
2,228
|
|
25.8%
|
|
6,179
|
|
6,146
|
|
6,511
|
|
4,361
|
|
67.0%
|
|
Total interest
expense
|
|
18,803
|
|
16,337
|
|
2,466
|
|
15.1%
|
|
13,423
|
|
12,927
|
|
13,091
|
|
5,712
|
|
43.6%
|
|
Net Interest
Income
|
|
167,813
|
|
174,661
|
|
(6,848)
|
|
(3.9)%
|
|
172,630
|
|
168,703
|
|
164,973
|
|
2,840
|
|
1.7%
|
|
Provision for credit
losses
|
|
4,500
|
|
5,000
|
|
(500)
|
|
(10.0)%
|
|
1,000
|
|
5,000
|
|
5,000
|
|
(500)
|
|
(10.0)%
|
|
Net interest income
after provision for credit losses
|
|
163,313
|
|
169,661
|
|
(6,348)
|
|
(3.7)%
|
|
171,630
|
|
163,703
|
|
159,973
|
|
3,340
|
|
2.1%
|
|
Noninterest
Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust service
fees
|
|
12,087
|
|
12,457
|
|
(370)
|
|
(3.0)%
|
|
12,218
|
|
12,017
|
|
11,711
|
|
376
|
|
3.2%
|
|
Service charges on
deposit accounts
|
|
15,806
|
|
17,006
|
|
(1,200)
|
|
(7.1)%
|
|
17,961
|
|
17,412
|
|
16,400
|
|
(594)
|
|
(3.6)%
|
|
Card-based and other
nondeposit fees
|
|
12,416
|
|
12,019
|
|
397
|
|
3.3%
|
|
12,407
|
|
12,577
|
|
12,509
|
|
(93)
|
|
(0.7)%
|
|
Insurance
commissions
|
|
19,728
|
|
10,593
|
|
9,135
|
|
86.2%
|
|
7,860
|
|
13,651
|
|
12,317
|
|
7,411
|
|
60.2%
|
|
Brokerage and annuity
commissions
|
|
3,683
|
|
3,496
|
|
187
|
|
5.3%
|
|
4,040
|
|
4,520
|
|
4,033
|
|
(350)
|
|
(8.7)%
|
|
Total core fee-based
revenue
|
|
63,720
|
|
55,571
|
|
8,149
|
|
14.7%
|
|
54,486
|
|
60,177
|
|
56,970
|
|
6,750
|
|
11.8%
|
|
Mortgage banking,
net
|
|
7,408
|
|
2,928
|
|
4,480
|
|
153.0%
|
|
6,669
|
|
5,362
|
|
6,361
|
|
1,047
|
|
16.5%
|
|
Capital market fees,
net
|
|
2,467
|
|
2,613
|
|
(146)
|
|
(5.6)%
|
|
2,939
|
|
2,099
|
|
2,322
|
|
145
|
|
6.2%
|
|
Bank owned life
insurance income
|
|
2,875
|
|
2,739
|
|
136
|
|
5.0%
|
|
3,506
|
|
3,011
|
|
4,320
|
|
(1,445)
|
|
(33.4)%
|
|
Asset gains,
net
|
|
1,096
|
|
3,727
|
|
(2,631)
|
|
(70.6)%
|
|
4,934
|
|
899
|
|
728
|
|
368
|
|
50.5%
|
|
Investment securities
gains, net
|
|
—
|
|
25
|
|
(25)
|
|
(100.0)%
|
|
57
|
|
34
|
|
378
|
|
(378)
|
|
(100.0)%
|
|
Other
|
|
2,510
|
|
2,040
|
|
470
|
|
23.0%
|
|
2,317
|
|
665
|
|
2,442
|
|
68
|
|
2.8%
|
|
Total noninterest
income
|
|
80,076
|
|
69,643
|
|
10,433
|
|
15.0%
|
|
74,908
|
|
72,247
|
|
73,521
|
|
6,555
|
|
8.9%
|
|
Noninterest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel
expense
|
|
100,152
|
|
97,258
|
|
2,894
|
|
3.0%
|
|
97,650
|
|
97,793
|
|
97,698
|
|
2,454
|
|
2.5%
|
|
Occupancy
|
|
17,683
|
|
14,589
|
|
3,094
|
|
21.2%
|
|
13,743
|
|
13,785
|
|
15,560
|
|
2,123
|
|
13.6%
|
|
Equipment
|
|
5,772
|
|
6,148
|
|
(376)
|
|
(6.1)%
|
|
6,133
|
|
6,227
|
|
6,276
|
|
(504)
|
|
(8.0)%
|
|
Technology
|
|
15,558
|
|
14,581
|
|
977
|
|
6.7%
|
|
13,573
|
|
14,594
|
|
12,724
|
|
2,834
|
|
22.3%
|
|
Business development
and advertising
|
|
5,327
|
|
8,538
|
|
(3,211)
|
|
(37.6)%
|
|
7,467
|
|
5,077
|
|
5,062
|
|
265
|
|
5.2%
|
|
Other intangible
amortization
|
|
801
|
|
775
|
|
26
|
|
3.4%
|
|
990
|
|
991
|
|
991
|
|
(190)
|
|
(19.2)%
|
|
Loan
expense
|
|
2,996
|
|
3,646
|
|
(650)
|
|
(17.8)%
|
|
3,813
|
|
3,620
|
|
2,787
|
|
209
|
|
7.5%
|
|
Legal and
professional fees
|
|
4,538
|
|
4,257
|
|
281
|
|
6.6%
|
|
4,604
|
|
4,436
|
|
4,188
|
|
350
|
|
8.4%
|
|
Foreclosure / OREO
expense
|
|
1,425
|
|
1,168
|
|
257
|
|
22.0%
|
|
2,083
|
|
1,575
|
|
1,896
|
|
(471)
|
|
(24.8)%
|
|
FDIC
expense
|
|
6,500
|
|
6,956
|
|
(456)
|
|
(6.6)%
|
|
6,859
|
|
4,945
|
|
5,001
|
|
1,499
|
|
30.0%
|
|
Other
|
|
13,503
|
|
13,889
|
|
(386)
|
|
(2.8)%
|
|
14,938
|
|
14,882
|
|
15,475
|
|
(1,972)
|
|
(12.7)%
|
|
Total noninterest
expense
|
|
174,255
|
|
171,805
|
|
2,450
|
|
1.4%
|
|
171,853
|
|
167,925
|
|
167,658
|
|
6,597
|
|
3.9%
|
|
Income before
income taxes
|
|
69,134
|
|
67,499
|
|
1,635
|
|
2.4%
|
|
74,685
|
|
68,025
|
|
65,836
|
|
3,298
|
|
5.0%
|
|
Income tax
expense
|
|
22,462
|
|
18,761
|
|
3,701
|
|
19.7%
|
|
24,478
|
|
21,660
|
|
20,637
|
|
1,825
|
|
8.8%
|
|
Net
income
|
|
46,672
|
|
48,738
|
|
(2,066)
|
|
(4.2)%
|
|
50,207
|
|
46,365
|
|
45,199
|
|
1,473
|
|
3.3%
|
|
Preferred stock
dividends
|
|
1,228
|
|
1,225
|
|
3
|
|
0.2%
|
|
1,255
|
|
1,278
|
|
1,244
|
|
(16)
|
|
(1.3)%
|
|
Net income
available to common equity
|
|
$
|
45,444
|
|
$
|
47,513
|
|
$
|
(2,069)
|
|
(4.4)%
|
|
$
|
48,952
|
|
$
|
45,087
|
|
$
|
43,955
|
|
$
|
1,489
|
|
3.4%
|
|
Earnings Per
Common Share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.30
|
|
$
|
0.31
|
|
$
|
(0.01)
|
|
(3.2)%
|
|
$
|
0.31
|
|
$
|
0.28
|
|
$
|
0.27
|
|
$
|
0.03
|
|
11.1%
|
|
Diluted
|
|
$
|
0.30
|
|
$
|
0.31
|
|
$
|
(0.01)
|
|
(3.2)%
|
|
$
|
0.31
|
|
$
|
0.28
|
|
$
|
0.27
|
|
$
|
0.03
|
|
11.1%
|
|
Average Common
Shares Outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
150,070
|
|
151,931
|
|
(1,861)
|
|
(1.2)%
|
|
155,925
|
|
159,940
|
|
161,467
|
|
(11,397)
|
|
(7.1)%
|
|
Diluted
|
|
151,164
|
|
153,083
|
|
(1,919)
|
|
(1.3)%
|
|
156,991
|
|
160,838
|
|
162,188
|
|
(11,024)
|
|
(6.8)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associated
Banc-Corp
Selected Quarterly Information
|
|
($ in millions,
except per share and full time
equivalent employee data)
|
|
1Q15
|
4Q14
|
3Q14
|
2Q14
|
1Q14
|
|
Per Common
Share Data
|
|
|
|
|
|
|
|
Dividends
|
|
$
|
0.10
|
|
$
|
0.10
|
|
$
|
0.09
|
|
$
|
0.09
|
|
$
|
0.09
|
|
Market
Value:
|
|
|
|
|
|
|
|
High
|
|
19.07
|
|
19.37
|
|
18.90
|
|
18.39
|
|
18.35
|
|
Low
|
|
16.62
|
|
16.75
|
|
17.42
|
|
16.82
|
|
15.58
|
|
Close
|
|
18.60
|
|
18.63
|
|
17.42
|
|
18.08
|
|
18.06
|
|
Book value
|
|
18.38
|
|
18.32
|
|
18.15
|
|
17.99
|
|
17.64
|
|
Tier 1 common equity
/ share (1)
|
|
11.97
|
|
12.09
|
|
12.10
|
|
12.04
|
|
11.88
|
|
Tangible book value /
share
|
|
$
|
11.95
|
|
$
|
12.06
|
|
$
|
12.09
|
|
$
|
12.11
|
|
$
|
11.80
|
|
Performance
Ratios (annualized)
|
|
|
|
|
|
|
|
Return on average
assets
|
|
0.71%
|
|
0.75%
|
|
0.78%
|
|
0.75%
|
|
0.76%
|
|
Return on average
tangible common equity
|
|
10.16
|
|
10.27
|
|
10.35
|
|
9.56
|
|
9.45
|
|
Return on average
Tier 1 common equity (1)
|
|
10.22
|
|
10.35
|
|
10.38
|
|
9.56
|
|
9.38
|
|
Effective tax
rate
|
|
32.49
|
|
27.79
|
|
32.77
|
|
31.84
|
|
31.35
|
|
Dividend payout ratio
(2)
|
|
33.33
|
|
32.26
|
|
29.03
|
|
32.14
|
|
33.33
|
|
Average
Balances
|
|
|
|
|
|
|
|
Common stockholders'
equity
|
|
$
|
2,785
|
|
$
|
2,772
|
|
$
|
2,815
|
|
$
|
2,830
|
|
$
|
2,827
|
|
Average Tier 1 common
equity (1)
|
|
$
|
1,804
|
|
$
|
1,821
|
|
$
|
1,871
|
|
$
|
1,892
|
|
$
|
1,900
|
|
Selected Trend
Information
|
|
|
|
|
|
|
|
Average full time
equivalent employees
|
|
4,422
|
|
4,320
|
|
4,359
|
|
4,431
|
|
4,517
|
|
Trust assets under
management, at market value
|
|
$
|
8,138
|
|
$
|
7,993
|
|
$
|
7,700
|
|
$
|
7,720
|
|
$
|
7,535
|
|
Total revenue
(3)
|
|
$
|
253
|
|
$
|
249
|
|
$
|
252
|
|
$
|
246
|
|
$
|
243
|
|
Core fee-based
revenue (4)
|
|
$
|
64
|
|
$
|
56
|
|
$
|
54
|
|
$
|
60
|
|
$
|
57
|
|
Mortgage loans
originated for sale during period
|
|
$
|
268
|
|
$
|
292
|
|
$
|
298
|
|
$
|
276
|
|
$
|
204
|
|
Mortgage portfolio
serviced for others
|
|
$
|
7,920
|
|
$
|
7,999
|
|
$
|
8,012
|
|
$
|
8,052
|
|
$
|
8,084
|
|
Mortgage servicing
rights, net / Portfolio serviced for others
|
|
0.75%
|
|
0.75%
|
|
0.76%
|
|
0.76%
|
|
0.77%
|
|
At Period
End
|
|
|
|
|
|
|
|
Loans /
deposits
|
|
90.57%
|
|
93.77%
|
|
94.27%
|
|
98.43%
|
|
93.90%
|
|
Stockholders' equity
/ assets
|
|
10.65%
|
|
10.44%
|
|
11.19%
|
|
11.39%
|
|
11.69%
|
|
Tangible common
equity / tangible assets (5)
|
|
7.04%
|
|
6.97%
|
|
7.57%
|
|
7.79%
|
|
7.96%
|
|
Tangible equity /
tangible assets (5)
|
|
7.27%
|
|
7.20%
|
|
7.82%
|
|
8.03%
|
|
8.22%
|
|
Shares outstanding,
end of period
|
|
153,567
|
|
149,560
|
|
154,743
|
|
159,480
|
|
161,012
|
|
Capital
(6)
|
|
|
|
|
|
|
|
Risk weighted assets
(7) (8)
|
|
$
|
19,565
|
|
$
|
18,568
|
|
$
|
18,031
|
|
$
|
17,911
|
|
$
|
17,075
|
|
Tier 1 common equity
(1)
|
|
$
|
1,838
|
|
$
|
1,808
|
|
$
|
1,873
|
|
$
|
1,920
|
|
$
|
1,912
|
|
Tier 1 common equity
/ risk-weighted assets (7) (8)
|
|
9.39%
|
|
9.74%
|
|
10.39%
|
|
10.72%
|
|
11.20%
|
|
Tier 1 leverage ratio
(7) (8)
|
|
7.39%
|
|
7.48%
|
|
7.87%
|
|
8.26%
|
|
8.46%
|
|
Tier 1 risk-based
capital ratio (7) (8)
|
|
9.70%
|
|
10.06%
|
|
10.73%
|
|
11.06%
|
|
11.56%
|
|
Total risk-based
capital ratio (7) (8)
|
|
12.21%
|
|
12.66%
|
|
11.98%
|
|
12.31%
|
|
12.81%
|
|
Non-GAAP
Financial Measures Reconciliation
|
|
|
|
|
|
|
|
Efficiency ratio
(9)
|
|
70.30%
|
|
70.33%
|
|
69.44%
|
|
69.70%
|
|
70.41%
|
|
Taxable equivalent
adjustment
|
|
(1.42)%
|
|
(1.40)%
|
|
(1.36)%
|
|
(1.32)%
|
|
(1.35)%
|
|
Asset gains,
net
|
|
0.30%
|
|
1.05%
|
|
1.36%
|
|
0.26%
|
|
0.22%
|
|
Other intangible
amortization
|
|
(0.32)%
|
|
(0.32)%
|
|
(0.40)%
|
|
(0.41)%
|
|
(0.42)%
|
|
Efficiency ratio,
fully taxable equivalent (9)
|
|
68.86%
|
|
69.66%
|
|
69.04%
|
|
68.23%
|
|
68.86%
|
|
|
|
(1)
|
Tier 1 common equity,
a non-GAAP financial measure, is used by banking regulators,
investors and analysts to assess and compare the quality and
composition of our capital with the capital of other financial
services companies. Management uses Tier 1 common equity, along
with other capital measures, to assess and monitor our capital
position. Tier 1 common equity (period end and average) is Tier 1
capital excluding qualifying perpetual preferred stock and
qualifying trust preferred securities.
|
|
(2)
|
Ratio is based upon
basic earnings per common share.
|
|
(3)
|
Total revenue, a
non-GAAP financial measure, is the sum of taxable equivalent net
interest income, core fee-based revenues, and other noninterest
income categories, as presented on Page 2 in the Consolidated
Statements of Income and Page 6 in the Net Interest Income
Analysis.
|
|
(4)
|
Core fee-based
revenue, a non-GAAP financial measure, is the sum of trust service
fees, service charges on deposit accounts, card-based and other
nondeposit fees, insurance commissions, and brokerage and annuity
commissions, as presented on Page 2 in the Consolidated Statements
of Income.
|
|
(5)
|
Tangible equity,
tangible common equity and tangible assets exclude goodwill and
other intangible assets, which is a non-GAAP financial measure.
These financial measures have been included as they are considered
to be critical metrics with which to analyze and evaluate financial
condition and capital strength.
|
|
(6)
|
Prior to 2015, the
regulatory capital requirements effective for the Corporation
followed the Capital Accord of the Basel Committee on Banking
Supervision ("Basel I"). Beginning January 1, 2015, the regulatory
capital requirements effective for the Corporation follow Basel
III, subject to certain transition provisions from Basel I over the
next three years to full implementation by January 1,
2018.
|
|
(7)
|
March 31, 2015 data
is estimated.
|
|
(8)
|
The Federal Reserve
establishes capital adequacy requirements, including
well-capitalized standards for the Corporation. The OCC establishes
similar capital adequacy requirements and standards for the Bank.
Regulatory capital primarily consists of Tier 1 risk-based capital
and Tier 2 risk-based capital. The sum of Tier 1 risk-based capital
and Tier 2 risk-based capital equals our total risk-based capital.
Risk-based capital guidelines require a minimum level of capital as
a percentage of risk-weighted assets. Risk-weighted assets consist
of total assets plus certain off-balance sheet and market items,
subject to adjustment for predefined credit risk
factors.
|
|
(9)
|
Efficiency ratio is
defined by the Federal Reserve guidance as noninterest expense
divided by the sum of net interest income plus noninterest income,
excluding investment securities gains / losses, net. Efficiency
ratio, fully taxable equivalent, is noninterest expense, excluding
other intangible amortization, divided by the sum of taxable
equivalent net interest income plus noninterest income, excluding
investment securities gains / losses, net and asset gains / losses,
net. This efficiency ratio is presented on a taxable equivalent
basis, which adjusts net interest income for the tax-favored status
of certain loans and investment securities. Management believes
this measure to be the preferred industry measurement of net
interest income as it enhances the comparability of net interest
income arising from taxable and tax-exempt sources and it excludes
certain specific revenue items (such as investment securities gains
/ losses, net and asset gains / losses, net).
|
|
Associated
Banc-Corp
Selected Asset Quality Information
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14 %
Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Allowance for
Loan Losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
balance
|
|
$
|
266,302
|
|
$
|
266,262
|
|
—%
|
|
$
|
271,851
|
|
$
|
267,916
|
|
$
|
268,315
|
|
(0.8)%
|
|
Provision for loan
losses
|
|
4,500
|
|
4,500
|
|
—%
|
|
(3,000)
|
|
6,500
|
|
5,000
|
|
(10.0)%
|
|
Charge
offs
|
|
(13,270)
|
|
(8,778)
|
|
51.2%
|
|
(14,850)
|
|
(9,107)
|
|
(11,361)
|
|
16.8%
|
|
Recoveries
|
|
7,736
|
|
4,318
|
|
79.2%
|
|
12,261
|
|
6,542
|
|
5,962
|
|
29.8%
|
|
Net charge
offs
|
|
(5,534)
|
|
(4,460)
|
|
24.1%
|
|
(2,589)
|
|
(2,565)
|
|
(5,399)
|
|
2.5%
|
|
Ending
balance
|
|
$
|
265,268
|
|
$
|
266,302
|
|
(0.4)%
|
|
$
|
266,262
|
|
$
|
271,851
|
|
$
|
267,916
|
|
(1.0)%
|
|
Allowance for
Unfunded Commitments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
balance
|
|
$
|
24,900
|
|
$
|
24,400
|
|
2.0%
|
|
$
|
20,400
|
|
$
|
21,900
|
|
$
|
21,900
|
|
13.7%
|
|
Provision for
unfunded commitments
|
|
—
|
|
500
|
|
(100.0)%
|
|
4,000
|
|
(1,500)
|
|
—
|
|
N/M
|
|
Ending
balance
|
|
$
|
24,900
|
|
$
|
24,900
|
|
—%
|
|
$
|
24,400
|
|
$
|
20,400
|
|
$
|
21,900
|
|
13.7%
|
|
Allowance for credit
losses
|
|
$
|
290,168
|
|
$
|
291,202
|
|
(0.4)%
|
|
$
|
290,662
|
|
$
|
292,251
|
|
$
|
289,816
|
|
0.1%
|
|
Net Charge
Offs
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14 %
Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Commercial and
industrial
|
|
$
|
4,650
|
|
$
|
1,323
|
|
251.5%
|
|
$
|
572
|
|
$
|
(1,377)
|
|
$
|
2,725
|
|
70.6%
|
|
Commercial real
estate—owner occupied
|
|
739
|
|
134
|
|
N/M
|
|
2,210
|
|
(550)
|
|
(124)
|
|
N/M
|
|
Lease
financing
|
|
—
|
|
9
|
|
(100.0)%
|
|
(6)
|
|
29
|
|
—
|
|
N/M
|
|
Commercial and
business lending
|
|
5,389
|
|
1,466
|
|
267.6%
|
|
2,776
|
|
(1,898)
|
|
2,601
|
|
107.2%
|
|
Commercial real
estate—investor
|
|
(2,529)
|
|
(132)
|
|
N/M
|
|
(4,065)
|
|
(239)
|
|
(1,031)
|
|
145.3%
|
|
Real estate
construction
|
|
(743)
|
|
(116)
|
|
N/M
|
|
350
|
|
795
|
|
113
|
|
N/M
|
|
Commercial real
estate lending
|
|
(3,272)
|
|
(248)
|
|
N/M
|
|
(3,715)
|
|
556
|
|
(918)
|
|
256.4%
|
|
Total
commercial
|
|
2,117
|
|
1,218
|
|
73.8%
|
|
(939)
|
|
(1,342)
|
|
1,683
|
|
25.8%
|
|
Home equity revolving
lines of credit
|
|
1,220
|
|
1,094
|
|
11.5%
|
|
1,098
|
|
1,380
|
|
1,182
|
|
3.2%
|
|
Home equity loans 1st
liens
|
|
362
|
|
206
|
|
75.7%
|
|
118
|
|
448
|
|
406
|
|
(10.8)%
|
|
Home equity loans
junior liens
|
|
423
|
|
457
|
|
(7.4)%
|
|
728
|
|
948
|
|
859
|
|
(50.8)%
|
|
Home
equity
|
|
2,005
|
|
1,757
|
|
14.1%
|
|
1,944
|
|
2,776
|
|
2,447
|
|
(18.1)%
|
|
Installment and
credit cards
|
|
769
|
|
990
|
|
(22.3)%
|
|
910
|
|
247
|
|
113
|
|
N/M
|
|
Residential
mortgage
|
|
643
|
|
495
|
|
29.9%
|
|
674
|
|
884
|
|
1,156
|
|
(44.4)%
|
|
Total
consumer
|
|
3,417
|
|
3,242
|
|
5.4%
|
|
3,528
|
|
3,907
|
|
3,716
|
|
(8.0)%
|
|
Total net charge
offs
|
|
$
|
5,534
|
|
$
|
4,460
|
|
24.1%
|
|
$
|
2,589
|
|
$
|
2,565
|
|
$
|
5,399
|
|
2.5%
|
|
Net Charge Offs
to Average Loans (in basis points) *
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
|
|
Commercial and
industrial
|
|
32
|
|
9
|
|
|
|
4
|
|
(10)
|
|
22
|
|
|
|
Commercial real
estate—owner occupied
|
|
30
|
|
5
|
|
|
|
84
|
|
(20)
|
|
(5)
|
|
|
|
Lease
financing
|
|
—
|
|
7
|
|
|
|
(5)
|
|
22
|
|
—
|
|
|
|
Commercial and
business lending
|
|
31
|
|
9
|
|
|
|
17
|
|
(12)
|
|
17
|
|
|
|
Commercial real
estate—investor
|
|
(33)
|
|
(2)
|
|
|
|
(54)
|
|
(3)
|
|
(14)
|
|
|
|
Real estate
construction
|
|
(30)
|
|
(5)
|
|
|
|
14
|
|
33
|
|
5
|
|
|
|
Commercial real
estate lending
|
|
(32)
|
|
(2)
|
|
|
|
(37)
|
|
6
|
|
(10)
|
|
|
|
Total
commercial
|
|
8
|
|
4
|
|
|
|
(3)
|
|
(5)
|
|
7
|
|
|
|
Home equity revolving
lines of credit
|
|
56
|
|
49
|
|
|
|
50
|
|
64
|
|
55
|
|
|
|
Home equity loans 1st
liens
|
|
26
|
|
14
|
|
|
|
7
|
|
26
|
|
23
|
|
|
|
Home equity loans
junior liens
|
|
108
|
|
107
|
|
|
|
159
|
|
196
|
|
171
|
|
|
|
Home
equity
|
|
51
|
|
42
|
|
|
|
45
|
|
64
|
|
55
|
|
|
|
Installment and
credit cards
|
|
70
|
|
86
|
|
|
|
78
|
|
25
|
|
11
|
|
|
|
Residential
mortgage
|
|
6
|
|
4
|
|
|
|
6
|
|
9
|
|
12
|
|
|
|
Total
consumer
|
|
21
|
|
19
|
|
|
|
22
|
|
25
|
|
25
|
|
|
|
Total net charge
offs
|
|
13
|
|
10
|
|
|
|
6
|
|
6
|
|
14
|
|
|
|
Credit
Quality
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14 %
Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Nonaccrual
loans
|
|
$
|
174,346
|
|
$
|
177,413
|
|
(1.7)%
|
|
$
|
184,138
|
|
$
|
179,226
|
|
$
|
177,978
|
|
(2.0)%
|
|
Other real estate
owned (OREO)
|
|
14,926
|
|
16,732
|
|
(10.8)%
|
|
16,840
|
|
17,729
|
|
19,173
|
|
(22.2)%
|
|
Total nonperforming
assets
|
|
$
|
189,272
|
|
$
|
194,145
|
|
(2.5)%
|
|
$
|
200,978
|
|
$
|
196,955
|
|
$
|
197,151
|
|
(4.0)%
|
|
Loans 90 or more days
past due and still accruing
|
|
$
|
1,715
|
|
$
|
1,623
|
|
5.7%
|
|
$
|
1,690
|
|
$
|
1,776
|
|
$
|
723
|
|
137.2%
|
|
Allowance for loan
losses / loans
|
|
1.48%
|
|
1.51%
|
|
|
|
1.55%
|
|
1.59%
|
|
1.63%
|
|
|
|
Allowance for loan
losses / nonaccrual loans
|
|
152.15
|
|
150.10
|
|
|
|
144.60
|
|
151.68
|
|
150.53
|
|
|
|
Nonaccrual loans /
total loans
|
|
0.97
|
|
1.01
|
|
|
|
1.07
|
|
1.05
|
|
1.08
|
|
|
|
Nonperforming assets
/ total loans plus OREO
|
|
1.05
|
|
1.10
|
|
|
|
1.17
|
|
1.15
|
|
1.20
|
|
|
|
Nonperforming assets
/ total assets
|
|
0.70
|
|
0.72
|
|
|
|
0.78
|
|
0.77
|
|
0.79
|
|
|
|
Net charge offs /
average loans (annualized)
|
|
0.13
|
|
0.10
|
|
|
|
0.06
|
|
0.06
|
|
0.14
|
|
|
|
Year-to-date net
charge offs / average loans
|
|
0.13
|
|
0.09
|
|
|
|
0.08
|
|
0.10
|
|
0.14
|
|
|
|
Nonaccrual
loans by type:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
$
|
61,620
|
|
$
|
49,663
|
|
24.1%
|
|
$
|
51,143
|
|
$
|
40,846
|
|
$
|
38,488
|
|
60.1%
|
|
Commercial real
estate—owner occupied
|
|
21,861
|
|
25,825
|
|
(15.3)%
|
|
24,340
|
|
31,725
|
|
26,735
|
|
(18.2)%
|
|
Lease
financing
|
|
1,720
|
|
1,801
|
|
(4.5)%
|
|
1,947
|
|
1,541
|
|
172
|
|
N/M
|
|
Commercial and
business lending
|
|
85,201
|
|
77,289
|
|
10.2%
|
|
77,430
|
|
74,112
|
|
65,395
|
|
30.3%
|
|
Commercial real
estate—investor
|
|
13,742
|
|
22,685
|
|
(39.4)%
|
|
25,106
|
|
28,135
|
|
33,611
|
|
(59.1)%
|
|
Real estate
construction
|
|
5,423
|
|
5,399
|
|
0.4%
|
|
8,187
|
|
6,988
|
|
6,667
|
|
(18.7)%
|
|
Commercial real
estate lending
|
|
19,165
|
|
28,084
|
|
(31.8)%
|
|
33,293
|
|
35,123
|
|
40,278
|
|
(52.4)%
|
|
Total
commercial
|
|
104,366
|
|
105,373
|
|
(1.0)%
|
|
110,723
|
|
109,235
|
|
105,673
|
|
(1.2)%
|
|
Home equity revolving
lines of credit
|
|
9,171
|
|
9,853
|
|
(6.9)%
|
|
10,154
|
|
10,056
|
|
10,356
|
|
(11.4)%
|
|
Home equity loans 1st
liens
|
|
5,111
|
|
5,290
|
|
(3.4)%
|
|
4,664
|
|
4,634
|
|
5,341
|
|
(4.3)%
|
|
Home equity loans
junior liens
|
|
6,145
|
|
6,598
|
|
(6.9)%
|
|
6,443
|
|
6,183
|
|
6,788
|
|
(9.5)%
|
|
Home
equity
|
|
20,427
|
|
21,741
|
|
(6.0)%
|
|
21,261
|
|
20,873
|
|
22,485
|
|
(9.2)%
|
|
Installment and
credit cards
|
|
515
|
|
613
|
|
(16.0)%
|
|
653
|
|
771
|
|
915
|
|
(43.7)%
|
|
Residential
mortgage
|
|
49,038
|
|
49,686
|
|
(1.3)%
|
|
51,501
|
|
48,347
|
|
48,905
|
|
0.3%
|
|
Total
consumer
|
|
69,980
|
|
72,040
|
|
(2.9)%
|
|
73,415
|
|
69,991
|
|
72,305
|
|
(3.2)%
|
|
Total nonaccrual
loans
|
|
$
|
174,346
|
|
$
|
177,413
|
|
(1.7)%
|
|
$
|
184,138
|
|
$
|
179,226
|
|
$
|
177,978
|
|
(2.0)%
|
|
*
Annualized
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
N/M = Not
meaningful.
|
|
|
|
|
|
|
|
|
|
|
|
|
Associated
Banc-Corp
Selected Asset Quality Information (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14 %
Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Restructured
loans (accruing)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
$
|
26,466
|
|
$
|
33,892
|
|
(21.9)%
|
|
$
|
36,955
|
|
$
|
28,849
|
|
$
|
27,776
|
|
(4.7)%
|
|
Commercial real
estate—owner occupied
|
|
9,780
|
|
10,454
|
|
(6.4)%
|
|
11,574
|
|
12,168
|
|
11,579
|
|
(15.5)%
|
|
Commercial and
business lending
|
|
36,246
|
|
44,346
|
|
(18.3)%
|
|
48,529
|
|
41,017
|
|
39,355
|
|
(7.9)%
|
|
Commercial real
estate—investor
|
|
22,775
|
|
23,127
|
|
(1.5)%
|
|
24,440
|
|
41,758
|
|
46,020
|
|
(50.5)%
|
|
Real estate
construction
|
|
717
|
|
727
|
|
(1.4)%
|
|
805
|
|
1,224
|
|
2,954
|
|
(75.7)%
|
|
Commercial real
estate lending
|
|
23,492
|
|
23,854
|
|
(1.5)%
|
|
25,245
|
|
42,982
|
|
48,974
|
|
(52.0)%
|
|
Total
commercial
|
|
59,738
|
|
68,200
|
|
(12.4)%
|
|
73,774
|
|
83,999
|
|
88,329
|
|
(32.4)%
|
|
Home equity revolving
lines of credit
|
|
1,251
|
|
1,508
|
|
(17.0)%
|
|
1,531
|
|
1,527
|
|
1,178
|
|
6.2%
|
|
Home equity loans 1st
liens
|
|
1,846
|
|
1,857
|
|
(0.6)%
|
|
1,867
|
|
1,674
|
|
1,656
|
|
11.5%
|
|
Home equity loans
junior liens
|
|
6,642
|
|
6,701
|
|
(0.9)%
|
|
7,184
|
|
7,243
|
|
6,738
|
|
(1.4)%
|
|
Home
equity
|
|
9,739
|
|
10,066
|
|
(3.2)%
|
|
10,582
|
|
10,444
|
|
9,572
|
|
1.7%
|
|
Installment and
credit cards
|
|
891
|
|
974
|
|
(8.5)%
|
|
1,106
|
|
1,185
|
|
225
|
|
296.0%
|
|
Residential
mortgage
|
|
18,449
|
|
18,976
|
|
(2.8)%
|
|
19,141
|
|
18,753
|
|
18,798
|
|
(1.9)%
|
|
Total
consumer
|
|
29,079
|
|
30,016
|
|
(3.1)%
|
|
30,829
|
|
30,382
|
|
28,595
|
|
1.7%
|
|
Total restructured
loans (accruing)
|
|
$
|
88,817
|
|
$
|
98,216
|
|
(9.6)%
|
|
$
|
104,603
|
|
$
|
114,381
|
|
$
|
116,924
|
|
(24.0)%
|
|
Restructured loans in
nonaccrual loans (not included above)
|
|
$
|
53,553
|
|
$
|
57,656
|
|
(7.1)%
|
|
$
|
63,314
|
|
$
|
72,388
|
|
$
|
74,231
|
|
(27.9)%
|
|
Loans Past Due
30-89 Days
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14 %
Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Commercial and
industrial
|
|
$
|
1,717
|
|
$
|
14,747
|
|
(88.4)%
|
|
$
|
3,947
|
|
$
|
2,519
|
|
$
|
4,126
|
|
(58.4)%
|
|
Commercial real
estate—owner occupied
|
|
1,849
|
|
10,628
|
|
(82.6)%
|
|
2,675
|
|
6,323
|
|
5,342
|
|
(65.4)%
|
|
Lease
financing
|
|
—
|
|
—
|
|
N/M
|
|
—
|
|
556
|
|
567
|
|
(100.0)%
|
|
Commercial and
business lending
|
|
3,566
|
|
25,375
|
|
(85.9)%
|
|
6,622
|
|
9,398
|
|
10,035
|
|
(64.5)%
|
|
Commercial real
estate—investor
|
|
2,215
|
|
1,208
|
|
83.4%
|
|
15,869
|
|
2,994
|
|
7,188
|
|
(69.2)%
|
|
Real estate
construction
|
|
317
|
|
984
|
|
(67.8)%
|
|
399
|
|
258
|
|
679
|
|
(53.3)%
|
|
Commercial real
estate lending
|
|
2,532
|
|
2,192
|
|
15.5%
|
|
16,268
|
|
3,252
|
|
7,867
|
|
(67.8)%
|
|
Total
commercial
|
|
6,098
|
|
27,567
|
|
(77.9)%
|
|
22,890
|
|
12,650
|
|
17,902
|
|
(65.9)%
|
|
Home equity revolving
lines of credit
|
|
7,150
|
|
6,725
|
|
6.3%
|
|
6,739
|
|
6,986
|
|
5,344
|
|
33.8%
|
|
Home equity loans 1st
liens
|
|
953
|
|
1,800
|
|
(47.1)%
|
|
1,503
|
|
1,685
|
|
1,469
|
|
(35.1)%
|
|
Home equity loans
junior liens
|
|
1,905
|
|
2,058
|
|
(7.4)%
|
|
2,496
|
|
2,138
|
|
3,006
|
|
(36.6)%
|
|
Home
equity
|
|
10,008
|
|
10,583
|
|
(5.4)%
|
|
10,738
|
|
10,809
|
|
9,819
|
|
1.9%
|
|
Installment and
credit cards
|
|
1,818
|
|
1,932
|
|
(5.9)%
|
|
1,818
|
|
1,734
|
|
1,269
|
|
43.3%
|
|
Residential
mortgage
|
|
3,403
|
|
3,046
|
|
11.7%
|
|
3,231
|
|
7,070
|
|
4,498
|
|
(24.3)%
|
|
Total
consumer
|
|
15,229
|
|
15,561
|
|
(2.1)%
|
|
15,787
|
|
19,613
|
|
15,586
|
|
(2.3)%
|
|
Total loans past due
30-89 days
|
|
$
|
21,327
|
|
$
|
43,128
|
|
(50.5)%
|
|
$
|
38,677
|
|
$
|
32,263
|
|
$
|
33,488
|
|
(36.3)%
|
|
Potential
Problem Loans
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14 %
Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Commercial and
industrial
|
|
$
|
138,403
|
|
$
|
108,522
|
|
27.5%
|
|
$
|
133,416
|
|
$
|
187,251
|
|
$
|
109,027
|
|
26.9%
|
|
Commercial real
estate—owner occupied
|
|
43,114
|
|
48,695
|
|
(11.5)%
|
|
49,008
|
|
57,757
|
|
64,785
|
|
(33.5)%
|
|
Lease
financing
|
|
2,009
|
|
2,709
|
|
(25.8)%
|
|
3,787
|
|
2,280
|
|
3,065
|
|
(34.5)%
|
|
Commercial and
business lending
|
|
183,526
|
|
159,926
|
|
14.8%
|
|
186,211
|
|
247,288
|
|
176,877
|
|
3.8%
|
|
Commercial real
estate—investor
|
|
26,026
|
|
24,043
|
|
8.2%
|
|
28,474
|
|
31,903
|
|
34,790
|
|
(25.2)%
|
|
Real estate
construction
|
|
1,487
|
|
1,776
|
|
(16.3)%
|
|
2,227
|
|
4,473
|
|
4,870
|
|
(69.5)%
|
|
Commercial real
estate lending
|
|
27,513
|
|
25,819
|
|
6.6%
|
|
30,701
|
|
36,376
|
|
39,660
|
|
(30.6)%
|
|
Total
commercial
|
|
211,039
|
|
185,745
|
|
13.6%
|
|
216,912
|
|
283,664
|
|
216,537
|
|
(2.5)%
|
|
Home equity revolving
lines of credit
|
|
247
|
|
204
|
|
21.1%
|
|
224
|
|
277
|
|
310
|
|
(20.3)%
|
|
Home equity loans
junior liens
|
|
711
|
|
676
|
|
5.2%
|
|
687
|
|
822
|
|
741
|
|
(4.0)%
|
|
Home
equity
|
|
958
|
|
880
|
|
8.9%
|
|
911
|
|
1,099
|
|
1,051
|
|
(8.8)%
|
|
Installment and
credit cards
|
|
—
|
|
2
|
|
(100.0)%
|
|
4
|
|
844
|
|
—
|
|
N/M
|
|
Residential
mortgage
|
|
6,621
|
|
3,781
|
|
75.1%
|
|
2,166
|
|
2,445
|
|
2,091
|
|
216.6%
|
|
Total
consumer
|
|
7,579
|
|
4,663
|
|
62.5%
|
|
3,081
|
|
4,388
|
|
3,142
|
|
141.2%
|
|
Total potential
problem loans
|
|
$
|
218,618
|
|
$
|
190,408
|
|
14.8%
|
|
$
|
219,993
|
|
$
|
288,052
|
|
$
|
219,679
|
|
(0.5)%
|
|
Associated
Banc-Corp
Net Interest Income Analysis—Taxable Equivalent Basis
Sequential Quarter
|
|
|
|
|
|
|
|
Three months ended March 31,
2015
|
|
Three months ended December
31, 2014
|
|
(in
thousands)
|
|
Average
Balance
|
|
Interest
Income /Expense
|
|
Average
Yield /Rate
|
|
Average
Balance
|
|
Interest
Income /Expense
|
|
Average
Yield /Rate
|
|
Earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans:
(1) (2) (3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
business lending
|
|
$
|
6,993,169
|
|
$
|
55,915
|
|
3.24%
|
|
$
|
6,720,893
|
|
$
|
59,197
|
|
3.50%
|
|
Commercial real
estate lending
|
|
4,102,733
|
|
36,403
|
|
3.60
|
|
4,066,143
|
|
37,122
|
|
3.62
|
|
Total
commercial
|
|
11,095,902
|
|
92,318
|
|
3.37
|
|
10,787,036
|
|
96,319
|
|
3.54
|
|
Residential
mortgage
|
|
4,663,849
|
|
36,885
|
|
3.17
|
|
4,490,075
|
|
36,228
|
|
3.23
|
|
Retail
|
|
2,055,364
|
|
23,668
|
|
4.64
|
|
2,110,144
|
|
24,942
|
|
4.71
|
|
Total
loans
|
|
17,815,115
|
|
152,871
|
|
3.46
|
|
17,387,255
|
|
157,489
|
|
3.60
|
|
Investment securities
(1)
|
|
5,754,747
|
|
37,159
|
|
2.58
|
|
5,697,598
|
|
36,658
|
|
2.57
|
|
Other short-term
investments
|
|
578,164
|
|
1,692
|
|
1.18
|
|
407,644
|
|
1,821
|
|
1.78
|
|
Investments and
other
|
|
6,332,911
|
|
38,851
|
|
2.45
|
|
6,105,242
|
|
38,479
|
|
2.52
|
|
Total earning
assets
|
|
24,148,026
|
|
$
|
191,722
|
|
3.20
|
|
23,492,497
|
|
$
|
195,968
|
|
3.32
|
|
Other assets,
net
|
|
2,458,899
|
|
|
|
|
|
2,388,268
|
|
|
|
|
|
Total
assets
|
|
$
|
26,606,925
|
|
|
|
|
|
$
|
25,880,765
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings
deposits
|
|
$
|
1,277,469
|
|
$
|
238
|
|
0.08%
|
|
$
|
1,264,195
|
|
$
|
253
|
|
0.08%
|
|
Interest-bearing
demand deposits
|
|
3,203,727
|
|
1,050
|
|
0.13
|
|
3,142,537
|
|
1,220
|
|
0.15
|
|
Money market
deposits
|
|
8,653,260
|
|
3,785
|
|
0.18
|
|
8,209,091
|
|
3,547
|
|
0.17
|
|
Time
deposits
|
|
1,594,183
|
|
2,546
|
|
0.65
|
|
1,549,565
|
|
2,299
|
|
0.59
|
|
Total
interest-bearing deposits
|
|
14,728,639
|
|
7,619
|
|
0.21
|
|
14,165,388
|
|
7,319
|
|
0.20
|
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
|
585,498
|
|
231
|
|
0.16
|
|
600,969
|
|
218
|
|
0.14
|
|
Other short-term
funding
|
|
119,240
|
|
81
|
|
0.27
|
|
464,866
|
|
156
|
|
0.13
|
|
Long-term
funding
|
|
3,735,602
|
|
10,872
|
|
1.17
|
|
3,221,574
|
|
8,644
|
|
1.07
|
|
Total short and
long-term funding
|
|
4,440,340
|
|
11,184
|
|
1.01
|
|
4,287,409
|
|
9,018
|
|
0.84
|
|
Total
interest-bearing liabilities
|
|
19,168,979
|
|
$
|
18,803
|
|
0.39
|
|
18,452,797
|
|
$
|
16,337
|
|
0.35
|
|
Noninterest-bearing
demand deposits
|
|
4,326,557
|
|
|
|
|
|
4,367,031
|
|
|
|
|
|
Other
liabilities
|
|
266,660
|
|
|
|
|
|
228,600
|
|
|
|
|
|
Stockholders'
equity
|
|
2,844,729
|
|
|
|
|
|
2,832,337
|
|
|
|
|
|
Total liabilities and
stockholders' equity
|
|
$
|
26,606,925
|
|
|
|
|
|
$
|
25,880,765
|
|
|
|
|
|
Net interest income
and rate spread
|
|
|
|
$
|
172,919
|
|
2.81%
|
|
|
|
$
|
179,631
|
|
2.97%
|
|
Net interest
margin
|
|
|
|
|
|
2.89%
|
|
|
|
|
|
3.04%
|
|
Taxable equivalent
adjustment
|
|
|
|
$
|
5,106
|
|
|
|
|
|
$
|
4,970
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest
Income Analysis—Taxable Equivalent Basis
Comparable Quarter
|
|
|
|
|
|
|
|
|
Three months ended
March 31, 2015
|
|
Three months ended
March 31, 2014
|
|
(in
thousands)
|
|
Average
Balance
|
|
Interest
Income /Expense
|
|
Average
Yield /Rate
|
|
Average
Balance
|
|
Interest
Income /Expense
|
|
Average
Yield /Rate
|
|
Earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans:
(1) (2) (3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
business lending
|
|
$
|
6,993,169
|
|
$
|
55,915
|
|
3.24%
|
|
$
|
6,131,185
|
|
$
|
51,681
|
|
3.42%
|
|
Commercial real
estate lending
|
|
4,102,733
|
|
36,403
|
|
3.60
|
|
3,907,363
|
|
35,591
|
|
3.69
|
|
Total
commercial
|
|
11,095,902
|
|
92,318
|
|
3.37
|
|
10,038,548
|
|
87,272
|
|
3.52
|
|
Residential
mortgage
|
|
4,663,849
|
|
36,885
|
|
3.17
|
|
3,926,734
|
|
32,664
|
|
3.33
|
|
Retail
|
|
2,055,364
|
|
23,668
|
|
4.64
|
|
2,199,335
|
|
24,413
|
|
4.48
|
|
Total
loans
|
|
17,815,115
|
|
152,871
|
|
3.46
|
|
16,164,617
|
|
144,349
|
|
3.61
|
|
Investment securities
(1)
|
|
5,754,747
|
|
37,159
|
|
2.58
|
|
5,450,066
|
|
36,922
|
|
2.71
|
|
Other short-term
investments
|
|
578,164
|
|
1,692
|
|
1.18
|
|
277,820
|
|
1,449
|
|
2.09
|
|
Investments and
other
|
|
6,332,911
|
|
38,851
|
|
2.45
|
|
5,727,886
|
|
38,371
|
|
2.68
|
|
Total earning
assets
|
|
24,148,026
|
|
$
|
191,722
|
|
3.20
|
|
21,892,503
|
|
$
|
182,720
|
|
3.36
|
|
Other assets,
net
|
|
2,458,899
|
|
|
|
|
|
2,320,710
|
|
|
|
|
|
Total
assets
|
|
$
|
26,606,925
|
|
|
|
|
|
$
|
24,213,213
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings
deposits
|
|
$
|
1,277,469
|
|
$
|
238
|
|
0.08%
|
|
$
|
1,195,337
|
|
$
|
220
|
|
0.07%
|
|
Interest-bearing
demand deposits
|
|
3,203,727
|
|
1,050
|
|
0.13
|
|
2,796,247
|
|
823
|
|
0.12
|
|
Money market
deposits
|
|
8,653,260
|
|
3,785
|
|
0.18
|
|
7,173,106
|
|
2,825
|
|
0.16
|
|
Time
deposits
|
|
1,594,183
|
|
2,546
|
|
0.65
|
|
1,659,277
|
|
2,291
|
|
0.56
|
|
Total
interest-bearing deposits
|
|
14,728,639
|
|
7,619
|
|
0.21
|
|
12,823,967
|
|
6,159
|
|
0.19
|
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
|
585,498
|
|
231
|
|
0.16
|
|
805,187
|
|
305
|
|
0.15
|
|
Other short-term
funding
|
|
119,240
|
|
81
|
|
0.27
|
|
328,516
|
|
116
|
|
0.14
|
|
Long-term
funding
|
|
3,735,602
|
|
10,872
|
|
1.17
|
|
3,004,520
|
|
6,511
|
|
0.87
|
|
Total short and
long-term funding
|
|
4,440,340
|
|
11,184
|
|
1.01
|
|
4,138,223
|
|
6,932
|
|
0.67
|
|
Total
interest-bearing liabilities
|
|
19,168,979
|
|
$
|
18,803
|
|
0.39
|
|
16,962,190
|
|
$
|
13,091
|
|
0.31
|
|
Noninterest-bearing
demand deposits
|
|
4,326,557
|
|
|
|
|
|
4,166,305
|
|
|
|
|
|
Other
liabilities
|
|
266,660
|
|
|
|
|
|
195,950
|
|
|
|
|
|
Stockholders'
equity
|
|
2,844,729
|
|
|
|
|
|
2,888,768
|
|
|
|
|
|
Total liabilities and
stockholders' equity
|
|
$
|
26,606,925
|
|
|
|
|
|
$
|
24,213,213
|
|
|
|
|
|
Net interest income
and rate spread
|
|
|
|
$
|
172,919
|
|
2.81%
|
|
|
|
$
|
169,629
|
|
3.05%
|
|
Net interest
margin
|
|
|
|
|
|
2.89%
|
|
|
|
|
|
3.12%
|
|
Taxable equivalent
adjustment
|
|
|
|
$
|
5,106
|
|
|
|
|
|
$
|
4,656
|
|
|
|
|
|
(1)
|
The yield on tax
exempt loans and securities is computed on a taxable equivalent
basis using a tax rate of 35% for all periods presented and is net
of the effects of certain disallowed interest
deductions.
|
|
(2)
|
Nonaccrual loans and
loans held for sale have been included in the average
balances.
|
|
(3)
|
Interest income
includes net loan fees.
|
|
Associated
Banc-Corp
Financial
Summary and Comparison
|
|
Period End Loan
Composition
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14
% Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Commercial and
industrial
|
|
$
|
6,140,420
|
|
$
|
5,905,902
|
|
4.0%
|
|
$
|
5,603,899
|
|
$
|
5,616,205
|
|
$
|
5,222,141
|
|
17.6%
|
|
Commercial real
estate—owner occupied
|
|
1,003,885
|
|
1,007,937
|
|
(0.4)%
|
|
1,014,335
|
|
1,070,463
|
|
1,098,089
|
|
(8.6)%
|
|
Lease
financing
|
|
49,496
|
|
51,529
|
|
(3.9)%
|
|
52,600
|
|
51,873
|
|
52,500
|
|
(5.7)%
|
|
Commercial and
business lending
|
|
7,193,801
|
|
6,965,368
|
|
3.3%
|
|
6,670,834
|
|
6,738,541
|
|
6,372,730
|
|
12.9%
|
|
Commercial real
estate—investor
|
|
3,086,980
|
|
3,056,485
|
|
1.0%
|
|
3,043,361
|
|
2,990,732
|
|
3,001,219
|
|
2.9%
|
|
Real estate
construction
|
|
1,019,571
|
|
1,008,956
|
|
1.1%
|
|
982,426
|
|
1,000,421
|
|
969,617
|
|
5.2%
|
|
Commercial real
estate lending
|
|
4,106,551
|
|
4,065,441
|
|
1.0%
|
|
4,025,787
|
|
3,991,153
|
|
3,970,836
|
|
3.4%
|
|
Total
commercial
|
|
11,300,352
|
|
11,030,809
|
|
2.4%
|
|
10,696,621
|
|
10,729,694
|
|
10,343,566
|
|
9.3%
|
|
Home equity revolving
lines of credit
|
|
879,827
|
|
887,779
|
|
(0.9)%
|
|
880,435
|
|
866,042
|
|
856,679
|
|
2.7%
|
|
Home equity loans 1st
liens
|
|
549,667
|
|
584,131
|
|
(5.9)%
|
|
619,774
|
|
659,598
|
|
705,835
|
|
(22.1)%
|
|
Home equity loans
junior liens
|
|
154,120
|
|
164,148
|
|
(6.1)%
|
|
176,316
|
|
187,732
|
|
199,488
|
|
(22.7)%
|
|
Home
equity
|
|
1,583,614
|
|
1,636,058
|
|
(3.2)%
|
|
1,676,525
|
|
1,713,372
|
|
1,762,002
|
|
(10.1)%
|
|
Installment and
credit cards
|
|
436,492
|
|
454,219
|
|
(3.9)%
|
|
459,682
|
|
469,203
|
|
393,321
|
|
11.0%
|
|
Residential
mortgage
|
|
4,658,574
|
|
4,472,760
|
|
4.2%
|
|
4,326,262
|
|
4,132,783
|
|
3,942,555
|
|
18.2%
|
|
Total
consumer
|
|
6,678,680
|
|
6,563,037
|
|
1.8%
|
|
6,462,469
|
|
6,315,358
|
|
6,097,878
|
|
9.5%
|
|
Total
loans
|
|
$
|
17,979,032
|
|
$
|
17,593,846
|
|
2.2%
|
|
$
|
17,159,090
|
|
$
|
17,045,052
|
|
$
|
16,441,444
|
|
9.4%
|
|
Period End
Deposit and Customer Funding Composition
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14
% Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14%
Change
|
|
Noninterest-bearing
demand
|
|
$
|
4,570,872
|
|
$
|
4,505,272
|
|
1.5%
|
|
$
|
4,302,454
|
|
$
|
4,211,057
|
|
$
|
4,478,981
|
|
2.1%
|
|
Savings
|
|
1,337,643
|
|
1,235,277
|
|
8.3%
|
|
1,256,567
|
|
1,275,493
|
|
1,252,669
|
|
6.8%
|
|
Interest-bearing
demand
|
|
3,525,870
|
|
3,126,854
|
|
12.8%
|
|
3,637,411
|
|
2,918,900
|
|
3,084,457
|
|
14.3%
|
|
Money
market
|
|
8,781,206
|
|
8,324,646
|
|
5.5%
|
|
7,491,460
|
|
7,348,650
|
|
7,069,173
|
|
24.2%
|
|
Brokered
CDs
|
|
40,699
|
|
42,556
|
|
(4.4)%
|
|
9,242
|
|
44,809
|
|
51,235
|
|
(20.6)%
|
|
Other time
|
|
1,595,302
|
|
1,528,899
|
|
4.3%
|
|
1,504,124
|
|
1,517,350
|
|
1,573,412
|
|
1.4%
|
|
Total
deposits
|
|
19,851,592
|
|
18,763,504
|
|
5.8%
|
|
18,201,258
|
|
17,316,259
|
|
17,509,927
|
|
13.4%
|
|
Customer repo
sweeps
|
|
528,572
|
|
384,221
|
|
37.6%
|
|
493,451
|
|
489,886
|
|
548,179
|
|
(3.6)%
|
|
Total deposits and
customer funding
|
|
$
|
20,380,164
|
|
$
|
19,147,725
|
|
6.4%
|
|
$
|
18,694,709
|
|
$
|
17,806,145
|
|
$
|
18,058,106
|
|
12.9%
|
|
Network transaction
deposits included above in interest-bearing demand & money
market
|
|
$
|
2,900,325
|
|
$
|
2,852,943
|
|
1.7%
|
|
$
|
2,207,055
|
|
$
|
2,238,923
|
|
$
|
2,141,976
|
|
35.4%
|
|
Brokered
CDs
|
|
40,699
|
|
42,556
|
|
(4.4)%
|
|
9,242
|
|
44,809
|
|
51,235
|
|
(20.6)%
|
|
Total network and
brokered funding
|
|
2,941,024
|
|
2,895,499
|
|
1.6%
|
|
2,216,297
|
|
2,283,732
|
|
2,193,211
|
|
34.1%
|
|
Net customer deposits
and funding (1)
|
|
$
|
17,439,140
|
|
$
|
16,252,226
|
|
7.3%
|
|
$
|
16,478,412
|
|
$
|
15,522,413
|
|
$
|
15,864,895
|
|
9.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Total deposits
and customer funding excluding total network and brokered
funding.
|
|
Quarter Average
Loan Composition
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14
% Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Commercial and
industrial
|
|
$
|
5,944,152
|
|
$
|
5,665,396
|
|
4.9%
|
|
$
|
5,558,135
|
|
$
|
5,335,488
|
|
$
|
4,983,943
|
|
19.3%
|
|
Commercial real
estate—owner occupied
|
|
998,293
|
|
1,003,179
|
|
(0.5)%
|
|
1,043,001
|
|
1,081,552
|
|
1,093,114
|
|
(8.7)%
|
|
Lease
financing
|
|
50,724
|
|
52,318
|
|
(3.0)%
|
|
51,091
|
|
51,804
|
|
54,128
|
|
(6.3)%
|
|
Commercial and
business lending
|
|
6,993,169
|
|
6,720,893
|
|
4.1%
|
|
6,652,227
|
|
6,468,844
|
|
6,131,185
|
|
14.1%
|
|
Commercial real
estate—investor
|
|
3,106,965
|
|
3,062,427
|
|
1.5%
|
|
3,013,210
|
|
3,014,827
|
|
2,993,046
|
|
3.8%
|
|
Real estate
construction
|
|
995,768
|
|
1,003,716
|
|
(0.8)%
|
|
1,006,076
|
|
953,021
|
|
914,317
|
|
8.9%
|
|
Commercial real
estate lending
|
|
4,102,733
|
|
4,066,143
|
|
0.9%
|
|
4,019,286
|
|
3,967,848
|
|
3,907,363
|
|
5.0%
|
|
Total
commercial
|
|
11,095,902
|
|
10,787,036
|
|
2.9%
|
|
10,671,513
|
|
10,436,692
|
|
10,038,548
|
|
10.5%
|
|
Home equity revolving
lines of credit
|
|
882,869
|
|
883,580
|
|
(0.1)%
|
|
875,388
|
|
866,952
|
|
868,614
|
|
1.6%
|
|
Home equity loans 1st
liens
|
|
567,849
|
|
601,719
|
|
(5.6)%
|
|
638,592
|
|
681,607
|
|
724,995
|
|
(21.7)%
|
|
Home equity loans
junior liens
|
|
159,378
|
|
169,845
|
|
(6.2)%
|
|
181,880
|
|
193,727
|
|
203,984
|
|
(21.9)%
|
|
Home
equity
|
|
1,610,096
|
|
1,655,144
|
|
(2.7)%
|
|
1,695,860
|
|
1,742,286
|
|
1,797,593
|
|
(10.4)%
|
|
Installment and
credit cards
|
|
445,268
|
|
455,000
|
|
(2.1)%
|
|
464,467
|
|
389,794
|
|
401,742
|
|
10.8%
|
|
Residential
mortgage
|
|
4,663,849
|
|
4,490,075
|
|
3.9%
|
|
4,309,121
|
|
4,077,617
|
|
3,926,734
|
|
18.8%
|
|
Total
consumer
|
|
6,719,213
|
|
6,600,219
|
|
1.8%
|
|
6,469,448
|
|
6,209,697
|
|
6,126,069
|
|
9.7%
|
|
Total
loans
|
|
$
|
17,815,115
|
|
$
|
17,387,255
|
|
2.5%
|
|
$
|
17,140,961
|
|
$
|
16,646,389
|
|
$
|
16,164,617
|
|
10.2%
|
|
Quarter Average
Deposit Composition
|
|
Mar 31,
2015
|
|
Dec 31,
2014
|
|
Mar15 vs Dec14
% Change
|
|
Sep 30,
2014
|
|
Jun 30,
2014
|
|
Mar 31,
2014
|
|
Mar15 vs Mar14 %
Change
|
|
Noninterest-bearing
demand
|
|
$
|
4,326,557
|
|
$
|
4,367,031
|
|
(0.9)%
|
|
$
|
4,239,654
|
|
$
|
4,073,310
|
|
$
|
4,166,305
|
|
3.8%
|
|
Savings
|
|
1,277,469
|
|
1,264,195
|
|
1.0%
|
|
1,269,994
|
|
1,267,297
|
|
1,195,337
|
|
6.9%
|
|
Interest-bearing
demand
|
|
3,203,727
|
|
3,142,537
|
|
1.9%
|
|
3,096,712
|
|
2,894,446
|
|
2,796,247
|
|
14.6%
|
|
Money
market
|
|
8,653,260
|
|
8,209,091
|
|
5.4%
|
|
7,721,167
|
|
7,340,244
|
|
7,173,106
|
|
20.6%
|
|
Time
deposits
|
|
1,594,183
|
|
1,549,565
|
|
2.9%
|
|
1,545,851
|
|
1,597,535
|
|
1,659,277
|
|
(3.9)%
|
|
Total
deposits
|
|
$
|
19,055,196
|
|
$
|
18,532,419
|
|
2.8%
|
|
$
|
17,873,378
|
|
$
|
17,172,832
|
|
$
|
16,990,272
|
|
12.2%
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/associated-reports-first-quarter-earnings-of-030-per-share-300067392.html
SOURCE Associated Banc-Corp