Associated Banc-Corp's Net Dips

Associated Banc-Corp(ASBC Quote) said its profit declined 5.1% for the third quarter, hurt by the mortgage industry slowdown.

The company earned $76.9 million, or 58 cents a share, compared with $81 million, or 63 cents a share, in the year ago period. Analysts polled by Thomson First Call were expecting earnings of 60 cents a share.

Third-quarter net interest margin was 3.63% compared with 3.56% last year. Net interest income rose 2.5% to $168.22 million. Total non-interest income slipped to $73 million from $77 million in the quarter. Nonperforming assets were 0.68% as on Sept. 30 compared with 0.58% in the corresponding period last year. ...