Higher loan activity enabled the Green Bay-based Associated Banc-Corp to report net income of $41.3 million, a whopping 167.7% increase over the same quarter in 2011, while its per-share price increased to 24 cents.
The parent company of Associated Bank said net income rose from the $15.4 million reported last year, and earnings per share increased from the nine cents per share reported in prior year quarter.
Helping the bank’s bottom line was the fact that it did not have to allocate money to cover bad loans, whereas it devoted $31 million to cover bad debt in the first quarter of 2011.
For more details about the company’s Q1 financial data, read the full article on the company website.
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