Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 80

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 80
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 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)December 31, 2024December 31, 2023Other long-term funding$(296,004)$3,996 $(548,634)$1,366 FHLB Advances(592,256)7,744 (590,287)9,713 Total$(888,260)$11,740 $(1,138,921)$11,079 (a) Excludes hedged items where only foreign currency risk is the designated hedged risk. At December 31, 2024 and 2023, the carrying amount excluded for foreign currency denominated loans was $344 million and $421 million, respectively.The Corporation terminated its $500 million fair value hedge during the fourth quarter of 2019. At December 31, 2024, the amortized cost basis of the closed portfolios which had previously been used in the terminated hedging relationship was $219 million and is included in loans on the consolidated balance sheets. This amount includes approximately $839,000 of hedging adjustments on the discontinued hedging relationships, which are not presented in the table above.

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 The tables below identify the effect of fair value and cash flow hedge accounting on the Corporation's consolidated statements of income:Location and Amount Recognized on the Consolidated Statements of Income in Fair Value and Cash Flow Hedging RelationshipsFor the Years Ended December 31,202420232022($ in thousands)Interest IncomeInterest ExpenseInterest IncomeInterest ExpenseLoss on Mortgage Portfolio SaleInterest IncomeInterest ExpenseTotal amounts of income/expense presented on the consolidated statements of income in which the effects of the fair value or cash flow hedges are recorded(a)$(16,695)$19,189 $(14,176)$17,536 $(125)$(263)$334 The effects of fair value and cash flow hedging: Impact on fair value hedging relationships in Subtopic 815-20Interest contracts:Hedged items(217)(661)(245)5,084