Company: ASB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000007789-25-000116
Chunk: 240

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 240
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 affordable housing projects, historic projects, new market projects, and opportunity zone funds for the purpose of community reinvestment and obtaining tax credits and other tax benefits. Return on the Corporation's investment in these projects and funds comes in the form of the tax credits and tax losses that pass through to the Corporation. The aggregate carrying value of these investments at June 30, 2025 was $186.8 million, compared to $204.8 million at December 31, 2024, included in tax credit and other investments on the consolidated balance sheets.Under the proportional amortization method, the Corporation amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits. The Corporation recognized additional income tax expense attributable to the amortization of investments in qualified affordable housing projects of $17.1 million and $17.8 million for the six months ended June 30, 2025 and June 30, 2024, respectively. The Corporation's remaining investment in qualified affordable housing projects accounted for under the proportional amortization method totaled $184.7 million at June 30, 2025 and $202.8 million at December 31, 2024. The Corporation’s unfunded contributions relating to investments in qualified affordable housing and historic projects are recorded in accrued expenses and other liabilities on the consolidated balance sheets. The Corporation’s remaining unfunded contributions totaled $21.2 million at June 30, 2025 and $29.7 million at December 31, 2024. For the six months ended June 30, 2025 and the year ended December 31, 2024, the Corporation did not record any impairment related to qualified affordable housing investments.The Corporation has principal investment commitments to provide capital-based financing to private companies through either direct investment in specific companies or through investment funds and partnerships. The timing of future cash requirements to fund such principal investment commitments is generally dependent on the investment cycle, whereby privately held companies are funded by private equity investors and ultimately sold, merged, or taken public through an initial offering, which can vary based on overall market conditions, as well as the nature and type of industry in which the companies operate. The timing of future cash requirements to fund these pools is dependent upon loan demand, which can vary over time. The aggregate carrying value of these investments was $60.3 million at June 30, 2025 and $54.1 million at December 31, 2024, included in tax credit and other investments on the consolidated balance sheets.Legal Proceedings