Company: ASB
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000007789-25-000179
Chunk: 303

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 303
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 and Allowance for Credit Losses on Loans.

Noninterest income for the third quarter of 2025 was $81.3 million, up $14.0 million, or 21%, compared to the third quarter of 2024, primarily due to increases in net capital market income through elevated activity in our capital markets syndications and swaps businesses and net asset gains from deferred compensation valuation adjustments.

Noninterest expense for the third quarter of 2025 was $216.2 million, up $15.6 million, or 8%, from the third quarter of 2024, driven mainly by increases in personnel due to variable compensation as a result of strong execution against our strategic plan and increased healthcare costs offset by slight decreases in most other expenses.

The Corporation recognized income tax expense of $29.6 million for the third quarter of 2025, compared to income tax expense of $20.1 million for the third quarter of 2024, the increase was driven by higher net income in the current year.

Segment Review

The reportable segments are Corporate and Commercial Specialty; Community, Consumer and Business; and Risk Management and Shared Services. The financial information of the Corporation’s segments was compiled utilizing the accounting policies described in the Corporation’s 2024 Annual Report on Form 10-K and Note 14 Segment Reporting of the notes to consolidated financial statements.

Table 20 Selected Segment Financial DataThree Months Ended Sep 30,Nine Months Ended Sep 30,(Dollars in thousands)20252024% Change20252024% ChangeCorporate and Commercial SpecialtyTotal revenue$160,016 $151,408 6%$457,396 $442,191 3%Provision for credit losses20,424 16,565 23%59,806 47,602 26%Noninterest expense46,697 42,044 11%137,653 127,859 8%Income tax expense17,835 17,255 3%49,500 49,147 1%Net income75,060 75,544 (1)%210,437 217,585 (3)%Average earning assets17,716,834 16,115,935 10%17,409,553 16,092,726 8%Average loans17,695,432 16,103,510 10%17,394,587 16,084,012 8%Average deposits7,121,719 6,834,268