Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 124

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 124
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 2.97%, compared to 2.79% for the first three months of 2024. The increases in net interest income and net interest margin were primarily driven by balance sheet repositioning announced in the fourth quarter of 2024.

•Provision for credit losses was $13 million compared to $24 million for the first three months of 2024, driven by nominal credit movement coupled with general macroeconomic trends.

•Noninterest income of $59 million decreased $6 million, or 10%, from the first three months of 2024, primarily driven by a $7 million loss recognized related to the settlement of the mortgage loan sale as part of the balance sheet repositioning announced in the fourth quarter of 2024.

•Noninterest expense of $211 million increased $13 million, or 7%, from the first three months of 2024, primarily driven by increases in personnel expense due to annual merit increases and other noninterest expense primarily due to a $4 million OREO write down, partially offset by a decrease in FDIC assessment expense given the recognition of the FDIC special assessment in the first quarter of 2024.

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Table 1 Summary Results of Operations: Trends Three months ended($ in thousands, except per share data)Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Net income (loss)$101,687 $(161,615)$88,018 $115,573 $81,169 Net income (loss) available to common equity98,812 (164,490)85,143 112,698 78,294 Earnings (loss) per common share - basic 0.60 (1.04)0.56 0.75 0.52 Earnings (loss) per common share - diluted0.59 (1.03)0.56 0.74 0.52 Effective tax rate16.03 %N/M18.61 %(12.33)%19.78 %N/M = Not Meaningful

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Table 2 Net Interest Income Analysis  Three Months Ended, Mar 31, 2025Dec 31, 2024Mar 31, 2024 ($ in thousands)AverageBalanceInterestIncome /ExpenseAverageYield /RateAverageBalanceInterestIncome /ExpenseAverageYield /RateAverage