Associated Banc-Corp Reports Consolidated Unaudited Earnings Results for Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2015
January 22, 2016 at 02:58 am IST
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Associated Banc-Corp reported consolidated unaudited earnings results for fourth quarter and year ended December 31, 2015. For the quarter, the company reported interest income interest and fees on loans of $155,602,000 compared with $156,536,000 for the same period last year. Total interest income was $191,419,000 compared with $190,998,000 for the same period last year. Net interest income was $171,468,000 compared with $174,661,000 for the same period last year. Income before tax was $58,472,000 compared with $67,499,000 for the same period last year. Net income available to common equity was $40,593,000 or $0.27 basic and diluted per share compared with $47,513,000 or $0.31 diluted per share for the same period last year. Book value per common share was $18.62 compared with $18.32 for the same period last year. Tangible book value per share was $12.10 compared with $12.06 per share for the same period last year. Return on average assets was 0.62% compared with 0.75% for the same period last year. Return on average tangible common equity was 8.78% compared with 10.27% for the same period last year.
For the year, the company reported interest income interest and fees on loans of $615,627,000 compared with $598,582,000 for the same period last year. Total interest income was $753,662,000 compared with $736,745,000 for the same period last year. Net interest income was $676,278,000 compared with $680,967,000 for the same period last year. Income before tax was $269,788,000 compared with $276,045,000 for the same period last year. Net income available to common equity was $181,146,000 or $0.1.19 diluted per share compared with $185,507,000 or $0.1.16 diluted per share for the same period last year. Book value per common share was $18.62 compared with $18.32 per share for the same period last year. Tangible book value per share was $12.10 compared with $12.06 per share for the same period last year. Return on average assets was 0.70% compared with 0.76% for the same period last year. Return on average tangible common equity was 9.97% compared with 9.91% for the same period last year.
For the quarter, the company recorded net charge offs of $8 million were flat to the third quarter, and up $3 million from the year ago quarter.
Associated Banc-Corp is a bank holding company. The Company, through Associated Bank and various nonbanking subsidiaries, provides a range of banking and nonbanking products and services to individuals and businesses. The Company is a banking franchise, offering a full range of financial products and services from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment consists of lending and deposit solutions to larger businesses, developers, not-for-profits, municipalities, and financial institutions, and the support to deliver, fund, and manage such banking solutions. Its Community, Consumer, and Business segment consists of lending and deposit solutions to individuals and small to mid-sized businesses. Its Risk Management and Shared Services segment includes key shared corporate functions, parent company activity, intersegment eliminations, and residual revenues and expenses.
Associated Banc-Corp Reports Consolidated Unaudited Earnings Results for Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2015
ASSOCIATED BANC-CORP 
