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ASSOCIATED BANC-CORP ANNOUNCES THIRD QUARTER AND NINE-MONTH EARNINGS

 ASSOCIATED BANC-CORP ANNOUNCES THIRD QUARTER AND NINE-MONTH EARNINGS
 GREEN BAY, Wis., Oct. 21 /PRNewswire/ -- Associated Banc-Corp (NASDAQ: ASBC) today reported net income for the 1992 third quarter of $8.3 million, or 74 cents per share. This is up 17.6 percent compared to $7.0 million, or 64 cents per share, for the same period in 1991.
 Net income for the first nine months ended Sept. 30, 1992 rose 19.0 percent to $23.1 million, or $2.08 per share, compared to $19.4 million, or $1.78 per share, a year ago.
 Noninterest income for the nine-month period ended Sept. 30, 1992, increased 15.0 percent or $4.4 million, to $33.6 million, as compared to the same period in 1991. Net interest income increased 10.1 percent, or $7.7 million, to $84.6 million for the first nine-month period of 1992 as compared to the same period a year ago.
 "The strong real estate activity in the Midwest, and particularly Wisconsin, has added to our fee income at Associated's banking affiliates and our commercial and residential mortgage companies," said H.B. Conlon, chairman and chief executive officer of Associated Banc- Corp. "This, along with our increased net interest income, contributed to Associated's higher earnings."
 Total stockholders' equity at Sept. 30, 1992 increased 6.9 percent to $214.6 million, or $19.20 per share, compared to $200.7 million, or $18.39 per share at Sept. 30, 1991.
 Total consolidated assets were $2.84 billion at Sept. 30, 1992 up 5.1 percent from the company's assets at Sept. 30, 1991. Loans, net of unearned income, were $1.93 billion at the end of the 1992 third quarter, up 7.6 percent from the $1.79 billion of a year earlier. Total consolidated deposits at quarter-end were up 4.3 percent to $2.3 billion compared to the level at Sept. 30, 1991.
 As a result of the acquisitions of F&M Financial Services Corp. and Northeast Wisconsin Financial Services, Inc. in the 1992 second quarter, accounted for as a pooling-of-interests, all consolidated financial information has been restated as if the transactions had been effected as of the beginning of the earliest period presented.
 Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified multibank holding company with over 75 banking locations in Wisconsin and Illinois. The $2.84-billion company offers a variety of financially related products and services through other Associated affiliates, to complement its traditional line of banking products.
 ASSOCIATED BANC-CORP
 Three months ended
 FINANCIAL HIGHLIGHTS Sept. 30,
 Operating Results (A) 1992 1991 percent change
 Interest income $51,960 $57,710 (10.0)
 Interest expense 22,812 30,915 (26.2)
 Net interest income 29,148 26,795 8.8
 Provision for possible
 loan losses 1,563 1,957 (20.1)
 Other income 11,215 9,833 14.1
 Other expense 26,870 24,651 9.0
 Net income 8,255 7,019 17.6
 Net income per share .74 .64 15.6
 Dividends per share $ .22 $ .20 10.0
 Nine months ended
 Sept. 30,
 Operating Results (A) 1992 1991 percent change
 Interest income $158,722 $173,201 (8.4)
 Interest expense 74,148 96,357 (23.0)
 Net interest income 84,574 76,844 10.1
 Provision for possible
 loan losses 4,413 5,085 (13.2)
 Other income 33,604 29,211 15.0
 Other expense 80,990 73,546 10.1
 Net income 23,120 19,434 19.0
 Net income per share 2.08 1.78 16.9
 Dividends per share $ .62 $ .58 6.9
 September 30,
 Financial Position (A) 1992 1991 percent change
 Assets $2,840,240 $2,703,095 5.1
 Investment securities 562,739 559,981 .5
 Loans, net of unearned
 income 1,930,944 1,794,070 7.6
 Allowance for possible
 loan losses 31,498 22,208 41.8
 Nonperforming loans (B) 27,922 20,103 38.9
 Deposits 2,294,278 2,200,689 4.3
 Stockholders' equity 214,618 200,725 6.9
 Stockholders' equity
 per share $ 19.20 $ 18.39 4.4
 Other Financial Information (A)
 For the nine months
 ended (annualized)
 Return on average
 equity (pct.) 15.12 13.50
 Return on average
 assets (pct.) 1.11 .99
 Weighted average shares
 outstanding 11,132 10,889
 As of Sept. 30
 Allowance for possible
 loan losses as a
 percent of loans 1.63 1.24
 Nonperforming loans as
 a percent of loans (B) 1.45 1.12
 Stockholders' equity as
 a percent of assets 7.56 7.43
 (A) -- Amounts in thousands except per share data and percentage data.
 (B) -- In this context, nonperforming loans are defined as nonaccrual loans, loans 90 days or more past due and renegotiated loans.
 -0- 10/21/92
 /CONTACT: Mary K. Magyar, media, 414-765-0638, or Joseph B. Selner, analysts, 414-433-3203, both of Associated Banc-Corp/
 (ASBC) CO: Associated Banc-Corp ST: Wisconsin IN: FIN SU: ERN


BM -- CL018 -- 3030 10/21/92 15:28 EDT
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Date:Oct 21, 1992
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