Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 228

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 228
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 AFS securities transferred to HTM securities. 

Note 16 Leases 

The Corporation has operating leases for retail and corporate offices, land, and equipment. The Corporation also has a finance lease for retail and corporate offices.These leases have original terms of 1 year or longer with remaining maturities up to 38 years, some of which include options to extend the lease term. An analysis of the lease options has been completed and any purchase options or optional periods that the Corporation is reasonably likely to extend have been included in the capitalization. The discount rate used to capitalize the operating leases is the FHLB borrowing rate on the date of lease commencement. When determining the rate to discount specific lease obligations, the repayment period and term are considered. Operating and finance lease costs and cash flows resulting from these leases are presented below:Three Months Ended Mar 31,($ in thousands)20252024Operating lease costs$1,702 $1,545 Finance lease costs1 23 Operating lease cash flows1,675 1,844 Finance lease cash flows23 23 

47

The right-of-use asset and lease liability by lease classifications on the consolidated balance sheets were as follows:($ in thousands)Consolidated Balance Sheets CategoryMar 31, 2025Dec 31, 2024Operating lease right-of-use assetPremises and equipment$32,509 $33,202 Operating lease liabilityAccrued expenses and other liabilities34,931 35,596 Finance lease liabilityOther long-term funding273 295 The lease payment obligations, weighted-average remaining lease term, and weighted-average original discount rate were as follows:Mar 31, 2025Dec 31, 2024($ in thousands)Lease PaymentsWeighted-average Lease Term (in years)Weighted-average Discount RateLease PaymentsWeighted-average Lease Term (in years)Weighted-average Discount RateOperating leasesRetail and corporate offices$37,595 8.154.27 %$39,072 8.304.26 %Land3,766 6.483.81 %3,228 6.633.52 %Equipment204 1.254.62 %204 1.504.62 %Total operating leases$41,565 7.964.23 %$42,505 8.134.20 %Finance leasesRetail and corporate offices$278 3.001.32 %$301 3.251.