Associated Banc-Corp reports Q3 EPS 56c, consensus 52c

“In the first nine months of 2024, we’ve remained squarely focused on executing Phase 2 of our strategic growth plan, and the financial tailwinds have started to emerge here in the third quarter,” said President and CEO Andy Harmening. “During the quarter, we drove nearly $400 million in balanced loan growth and over $600 million in core customer deposit1 growth, which enabled us to decrease our reliance on wholesale funding and expand our margin. We also saw strong credit performance again during the quarter, helping us to deliver solid bottom line results for our shareholders. We’re growing our customer base, delivering industry-leading customer satisfaction, and adding top talent to our commercial banking team. We look forward to building on this momentum and providing additional updates along the way.” Third quarter 2024 net interest income of $263M increased $6M from the prior quarter and increased $8M from the same period last year. The net interest margin increased to 2.78%, reflecting a 3 basis point increase from the prior quarter and a 7 basis point increase from the same period last year.