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Capitalizing on the success of phase one of its strategic plan, Associated Banc-Corp (ASB) announces phase two. This will bolster loan and deposit growth and reduce its reliance on high-cost funding.
Associated Bank slightly beat expectations for earnings but missed revenue expectations in its latest quarter. Management credited growth in customer deposits to strong customer acquisition, retention, and satisfaction scores.
Associated Banc-Corp (ASB) records a decline in revenues and marginally higher expenses in the third quarter of 2023.
Associated Banc-Corp (ASB) Q3 2023 Earnings Call Transcript
The headline numbers for Associated Banc-Corp (ASB) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Associated Banc-Corp (ASB) came out with quarterly earnings of $0.53 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.62 per share a year ago.
Associated Banc-Corp is a regional bank with a long history, dating back to 1861. Despite the turmoil in the banking sector, the bank's deposits, revenue, and profits are growing. This is due to continued impressive growth in deposits, loans, etc. making the bank a great prospect for investors to consider.
Business restructuring initiatives, higher rates and robust loan and deposit balances are likely to aid Associated Banc-Corp (ASB). Deteriorating asset quality and rising expenses are headwinds.
AIRI, ASB and BCBP have been added to the Zacks Rank #5 (Strong Sell) List on September 21, 2023.
GREEN BAY, Wis., Sept. 19, 2023 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) today announced it will release third quarter 2023 financial results on Thursday, October 19, 2023, after market close.