Associated Banc-Corp reports Q1 revenue of $300.2M (+15.3% Y/Y).
Average loans & deposits were $22.1B & $23.7B both up 10% Y/Y respectively; where NII was $210M (+16% Y/Y); NIM of 2.92% improved 8 bps from 2.84% Y/Y.
LTD ratio was up 344 bps to 95.74% & shareholders equity ratio was 11.13% up 33 bps Y/Y; provision for credit losses scaled down to zero from $9M; also NPL & NPA were $208.6M & $232.6M down 20% & 15% Y/Y respectively.
The acquisition of Bank Mutual was integral to Associated's Q1 results; it added $1.9B of loans & $1.8B of deposits to the company.
Previously: Associated Banc-Corp beats by $0.09, beats on revenue (April 19)
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