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Associated Banc-Corp is a public company that trades on the USA stock exchange under the ticker symbol "ASBC." It is a bank holding company that provides banking and non-banking financial services to individuals, businesses, and institutions. Here's some general information about the company, focusing on net income, earnings, and growth:
Net Income:
In 2022, Associated Banc-Corp's net income was $308 million, a 25% increase from the previous year. The company's net interest income, which accounts for most of its revenue, was $563 million, a 12% increase from the previous year.
Earnings:
Associated Banc-Corp has consistently reported positive earnings per share (EPS) in recent years. In 2022, the company's EPS was $2.15, beating the quarterly estimate of $2.03. The company's return on equity (ROE) was 8.58%, higher than the industry average of 7.52%.
Growth:
Associated Banc-Corp has been expanding its operations through strategic acquisitions and investments. In 2022, the company acquired Bank Mutual Corporation, adding 55 branches and $2.7 billion in assets to its balance sheet. The company has also invested in digital banking technology to enhance its online and mobile banking services.
Other key performance indicators (KPIs) for Associated Banc-Corp:
1. Revenue: In 2022, the company's revenue was $604 million, a 10% increase from the previous year.
2. Net interest margin: Associated Banc-Corp's net interest margin was 3.34% in 2022, up from 3.18% in the previous year.
3. Efficiency ratio: The company's efficiency ratio improved to 63.5% in 2022, down from 65.4% in the previous year.
4. Loan growth: Associated Banc-Corp's loans and leases grew by 10% in 2022, driven by increases in commercial and industrial loans, commercial real estate loans, and residential mortgages.
5. Deposit growth: The company's deposits grew by 11% in 2022, with an increase in both checking and savings deposits.
6. Capital ratios: Associated Banc-Corp's capital ratios remain strong, with a common equity tier 1 capital ratio of 9.8% and a total capital ratio of 12.5% at the end of 2022.
These KPIs suggest that Associated Banc-Corp has been performing well in terms of net income, earnings, growth, and other financial metrics. However, it's essential to conduct a detailed analysis of the company's financial reports and market trends before making investment decisions.