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Results driven by improving credit dynamics , growing net interest income and continued expense discipline . ● Associated Bank GREEN BAY , Wis . -- July 22 , 2021 Associated Banc - Corp ( NYSE : ASB ) ( " Associated " or " Company " ) today reported net income available to common equity ( " earnings " ) of $ 86 million , or $ 0.56 per common share , for the quarter ended June 30 , 2021. These amounts compare to earnings of $ 145 million in the quarter ended June 30 , 2020 , or $ 0.94 per common share , including the net gain recognized on the sale of Associated Benefits and Risk Consulting ( " ABRC " ) . Excluding the gain on ABRC , second quarter 2020 earnings per share were $ 0.26 per common share¹ . Second quarter 2021 results also compare to earnings of $ 89 million , or $ 0.58 per common share for the quarter ended March 31 , 2021 . ● NEWS RELEASE Investor Contact : Ben McCarville , Vice President , Director of Investor Relations 920-491-7059 " Our second quarter results were driven by continuing improvement in our loan portfolios , " remarked President and CEO Andy Harmening . " Our credit metrics continued to improve , our C & I and CRE customers began to modestly borrow on their lines , and we saw accelerating PPP pay downs all of which are indicators of an improving economic backdrop . We also saw signs of increased business and consumer confidence ; evidenced by rising spending and payments activity . We remain optimistic about the unfolding recovery in our regional footprint and are proactively pursuing various initiatives to lean into the growth we expect to see in our markets . We look forward to updating investors on these initiatives , later this quarter . " ● Media Contact : Jennifer Kaminski , Vice President , Public Relations Senior Manager 920-491-7576 Second Quarter 2021 Highlights ( all comparisons to the first quarter of 2021 ) Period - end loans ( excluding PPP ) were up $ 216 million , to $ 23.5 billion Period - end deposits were down $ 413 million , to $ 27.3 billion ● Associated Banc - Corp Reports Second Quarter 2021 Net Income Available to Common Equity of $ 86 million , or $ 0.56 Per Common Share . ● Net interest income was up $ 4 million , to $ 180 million Fee - based revenue¹ was up $ 2 million , to $ 53 million Noninterest expense was down $ 1 million , to $ 174 million Provision for credit losses was negative $ 35 million , compared to negative $ 23 million Net income available to common equity was down $ 3 million , to $ 86 million Earnings per common share were down $ 0.02 , to $ 0.56 Tangible book value per share was up $ 0.40 , to $ 17.35 ¹This is a non - GAAP financial measure . Management believes these measures are meaningful because they reflect adjustments commonly made by management , investors , regulators , and analysts to evaluate the adequacy of earnings per common share , provide greater understanding of ongoing operations and enhance comparability of results with prior periods . See page 10 of the attached tables for a reconciliation of GAAP financial measures to non - GAAP financial measures .