Associated Banc-Corp Beats by $0.04 (ASBC)

Associated Banc-Corp (ASBC) reports Q3 earnings of $0.04 versus consensus of $0.00. Associated Banc-Corp reports net interest income of $154 million. "We are very pleased with the continued significant improvements in our credit quality metrics," said Philip B. Flynn, President and Chief Executive Officer. "We are also encouraged by the growth we saw in commercial loans and our commercial loan pipeline during the quarter." At September 30, 2010, the company's Tier 1 capital to risk-weighted assets ratio was 17.68% and total capital to risk-weighted assets ratio was 19.16%. These ratios continue to significantly exceed the criteria for well capitalized banks and the requirements of banking regulators. Nonperforming loans declined to $817 million at September 30, 2010 from $1.0 billion at June 30, 2010 and a high of $1.2 billion at March 31, 2010. shares of ASBC are lower in the after-hours by 0.22%.