On Sep 25, 2014, we issued an updated research report on Associated Banc-Corp (ASBC). This Green Bay, WI-based Midwest bank remains focused on expansion through organic routes.
Associated Banc-Corp reported second-quarter 2014 earnings of 28 cents per share on Jul 17, in line with the Zacks Consensus Estimate and the year-ago quarter figure.
Results were aided by a rise in net interest income (NII) and fall in expenses, offset by a decline in non-interest income and higher provision. Growth in NII was driven by a rise in interest income and fall in interest expenses. Moreover, steady growth in loans acted favorably during the quarter.
Associated Banc-Corp has been focusing on organic growth strategies, as evident from the persistent rise in deposits and NII over the past few years. This rising trend continued in the first half of 2014 as well. Through continuous change in deposit-mix backed by rising non-interest bearing deposit accounts, the company has been able to maintain its organic growth momentum.
The Zacks Consensus Estimate for 2014 remained unchanged at $1.14 per share over the past 30 days. For 2015, the Zacks Consensus Estimate inched up 0.8% to $1.25 per share during the same time-frame.
Some Midwest banks worth considering include First Citizens Banc Corp. (FCZA), First Busey Corporation (BUSE) and First Financial Corp. (THFF).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment