Associated Banc-Corp reported third-quarter 2019 net income available to common equity of $79.5 million, or 49 cents per share, down from $83.5 million, or 48 cents per share, in the third quarter of the prior year.
The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was 46 cents.
The bank's net interest margin was 2.81%, down from 2.92% in the prior-year quarter. Net interest income also fell to $206.4 million, compared with $219.4 million in the third quarter of 2018.
Associated's net loans stood at $22.54 billion for the quarter, compared with $23.02 billion in the second quarter of 2019 and $22.63 billion in the third quarter of 2018. The loan portfolio fell due to declines in commercial real estate and consumer lending.
Total deposits for the third quarter were $24.42 billion, compared with $25.27 billion in the linked quarter and $24.83 billion in the year-ago period.
Net charge-offs were $20.2 million for the third quarter, up $7 million from the linked quarter and $8 million from the third quarter of 2018, "reflecting continued de-risking of oil and gas portfolio."
Provision for credit losses was $2.0 million in the third quarter, compared to a release of $5 million in the year-ago quarter.