Associated Banc-Corp, parent of Associated Bank, posted a lower net income in the first quarter of 2014, compared to the same period a year ago. The company had a net income of $44 million (27 cents/share) compared to $47 million (28 cents/share) in the first quarter of 2013.
A slowdown in mortgage refinancing led to a 10% decrease in the company’s non-interest income, but average loans grew by $416 million (3%) compared to the fourth of quarter 2013, and net interest income grew by $7 million to $165 million (5%) compared to the first quarter of 2013.
