Company: ASB
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000007789-25-000179
Chunk: 302

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 302
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 quarter of 2024 was $85.1 million, or $0.56 for both basic and diluted earnings per common share.

Fully tax-equivalent net interest income for the third quarter of 2025 was $309.4 million, $43.2 million, or 16%, higher than the third quarter of 2024. The net interest margin between the comparable quarters was up 26 bp, to 3.04% in the third quarter of 2025 from  the third quarter of 2024. The increases in net interest income and net interest margin were primarily due to a mix shift in earning assets attributable to the balance sheet repositioning announced in the fourth quarter of 2024 and continued organic growth in higher yielding loans within the commercial and industrial segment. 

Average earning assets increased $2.4 billion, or 6%, to $40.6 billion in the third quarter of 2025, driven by an increase in total loans and increases in total investments driven by reinvestment of additional proceeds from the common stock offering in the fourth quarter of 2024 and additional growth to keep pace with overall balance sheet growth for liquidity needs. Average loans increased $1.1 billion, or 4%,driven by increases in commercial and industrial, commercial real estate - investor and auto finance offset by a decrease in residential mortgage, which decreased due to the balance sheet repositioning announced in the fourth quarter of 2024. On the funding side, average interest-bearing deposits increased $1.2 billion, or 4%, from the third quarter of 2024, due to increases in all deposit categories except money market and brokered CDs which saw a slight contraction. Average short and long-term funding increased $804.9 million, or 25%, primarily driven by an increase in FHLB 

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advances, particularly short-term advances as the Corporation paid down the majority of its long-term FHLB advances as part of the balance sheet repositioning announced in the fourth quarter of 2024, partially offset by a decrease in other short-term funding due to the pay off of BTFP funding.

The provision for credit losses was $16.0 million for the third quarter of 2025, compared to a provision of $21.0 million for the third quarter of 2024. This was due to continued nominal credit movement in the portfolio and general macroeconomic conditions. See discussion under sections: Provision for Credit Losses, Nonperforming Assets,