Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 173

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 173
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 $9,472 

During the first quarter of 2024, the Corporation sold its remaining Visa Class B restricted shares at a gain of $4 million. 

Investment securities with a carrying value of $1.4 billion and $1.5 billion at March 31, 2025 and December 31, 2024, respectively, were pledged as required to secure certain deposits or for other purposes.

Accrued interest receivable on HTM securities totaled $16 million and $18 million at March 31, 2025 and December 31, 2024, respectively. Accrued interest receivable on AFS securities totaled $22 million and $21 million at March 31, 2025 and December 31, 2024, respectively. Accrued interest receivable on both HTM and AFS securities is included in interest receivable on the consolidated balance sheets.

The allowance for credit losses on HTM securities was approximately $64,000 and $60,000 at March 31, 2025 and December 31, 2024, respectively, attributable entirely to the Corporation's municipal securities, included in HTM investment securities, net, at amortized cost on the consolidated balance sheets. The Corporation also holds U.S. Treasury, municipal, and mortgage-related securities issued by the U.S. government or a GSE which are backed by the full faith and credit of the U.S. government and private-label residential mortgage-related securities that have credit enhancement which covers the first 15% of losses and, as a result, no allowance for credit losses has been recorded related to these securities. 

16

The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at March 31, 2025: Less than 12 months12 months or moreTotal($ in thousands)NumberofSecuritiesUnrealized(Losses)FairValueNumberofSecuritiesUnrealized(Losses)FairValueUnrealized(Losses)FairValueAFS investment securitiesObligations of state and political subdivisions (municipal securities)1 $(5)$540 2 $(63)$820 $(68)1,360 Residential mortgage-related securities:FNMA/FHLMC17 (243)23,292 14 (7,231)61,639