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Associated Bank NEWS RELEASE Investor Contact : Ben McCarville , Vice President , Director of Investor Relations 920-491-7059 Media Contact : Jennifer Kaminski , Vice President , Public Relations Senior Manager 920-491-7576 Associated Banc - Corp Reports Third Quarter 2021 Net Income Available to Common Equity of $ 85 million , or $ 0.56 Per Common Share . Results driven by positive revenue growth trends . ● GREEN BAY , Wis . October 21 , 2021 -- Associated Banc - Corp ( NYSE : ASB ) ( " Associated " or " Company " ) today reported net income available to common equity ( " earnings " ) of $ 85 million , or $ 0.56 per common share , for the quarter ended September 30 , 2021. These amounts compare to earnings of $ 40 million , or $ 0.26 per common share for the quarter ended September 30 , 2020 and earnings of $ 86 million , or $ 0.56 per common share for the quarter ended June 30 , 2021 . ● Exhibit 99.1 " Our third quarter results were driven by expanding revenue trends , " remarked President and CEO Andy Harmening . " We saw increasing signs of business confidence during the quarter . Average commercial and business lending ( excluding PPP ) loans grew by over 3 % from the second quarter . Net interest income and noninterest income also increased , and coupled with disciplined expense and capital management , we delivered a return on average tangible common equity of over 12.7 % . At the end of the quarter , we successfully launched our new Auto Finance vertical and are encouraged by the early activity we are seeing . We've also rounded out the leadership team with the hiring of a new President of Equipment Finance and Leasing and are now proceeding with leaders in place for all of our strategic expansions . We look forward to updating investors about our initiatives later this quarter . " Third Quarter 2021 Highlights ( all comparisons to the second quarter of 2021 ) Average loans were down $ 215 million , to $ 23.9 billion Excluding PPP , average loans were up $ 211 million , to $ 23.6 billion Average deposits were up $ 604 million , to $ 28.1 billion Net interest income was up $ 4 million , to $ 184 million Noninterest income was up $ 9 million , to $ 82 million Noninterest expense was up $ 3 million , to $ 178 million Provision for credit losses was negative $ 24 million , compared to negative $ 35 million Net income available to common equity was down $ 1 million , to $ 85 million Earnings per common share remained unchanged at $ 0.56 Tangible book value per share was up $ 0.23 , to $ 17.58