Company: ASB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000007789-25-000116
Chunk: 234

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 234
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 such swaps with effective dates of November 1, 2025 to December 1, 2025 had an asset notional amount and fair value of $300.0 million and $3.0 million, respectively, and a liability notional amount and fair value of $25.0 million and $0, respectively. As of December 31, 2024 such swaps with effective dates ranging from February 1, 2025 to March 1, 2025 had an asset notional amount and fair value of $100.0 million and $0.3 million, respectively, and a liability notional amount and fair value of $300.0 million and $1.4 million, respectively.(b) The mortgage derivative asset includes interest rate lock commitments, while the mortgage derivative liability includes forward commitments. Given the fair value position as of December 31, 2024, the fair value of the mortgage derivative asset included $0.3 million of interest rate lock commitments and $0.3 million of forward commitments.The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:Line Item in the Consolidated Balance Sheets in Which the Hedged Item is IncludedCarrying Amount of the Hedged Assets/(Liabilities)(a)Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)Carrying Amount of the Hedged Assets/(Liabilities)(a)Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)(in thousands)Jun 30, 2025Dec 31, 2024Other long-term funding$(301,354)$(1,354)$(296,004)$3,996 FHLB advances(598,003)1,997 (592,256)7,744 Total$(899,357)$643 $(888,260)$11,740 (a) Excludes hedged items where only foreign currency risk is the designated hedged risk. At June 30, 2025 and December 31, 2024, the carrying amount excluded for foreign currency denominated loans was $371.6 million and $344.2 million, respectively.The Corporation terminated its $500.0 million fair value hedge during the fourth quarter of 2019. At June 30, 2025, the amortized cost basis of the closed portfolios