Company: ASB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000007789-25-000116
Chunk: 310

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 310
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%271,369 263,986 3%Income tax expense23,747 25,815 (8)%45,663 49,149 (7)%Net income89,333 97,115 (8)%171,782 184,893 (7)%Average earning assets12,533,452 12,899,329 (3)%12,591,669 12,843,343 (2)%Average loans12,530,041 12,899,067 (3)%12,588,258 12,843,212 (2)%Average deposits21,185,516 20,143,288 5%21,239,541 20,135,945 5%Risk Management and Shared ServicesTotal revenue$(37,552)$(83,896)(55)%$(86,932)$(157,515)(45)%Provision for credit losses(8,735)925 N/M(20,817)2,672 N/MNoninterest expense28,996 22,902 27%57,646 43,719 32%Income tax benefit(11,316)(52,589)(78)%(29,520)(73,716)(60)%Net loss(46,497)(55,133)(16)%(94,241)(130,191)(28)%Average earning assets10,040,034 8,961,646 12%9,835,976 8,872,497 11%Average loans478,315 552,561 (13)%472,615 556,925 (15)%Average deposits6,096,349 5,697,363 7%6,194,828 5,779,362 7%

N//M = Not meaningful

74

Notable Changes in Segment Financial Data

Corporate and Commercial Specialty

•Average earning assets and average loans both increased $1.2 billion from the six months ended June 30, 2024, primarily driven by growth in commercial and business lending.

Community, Consumer, and Business

•Net income decreased $13.1 million from the six months ended June 30, 2024, driven by a decrease in net interest income due to lower FTP allocations partially offset by organic net interest income growth, an increase in noninterest income primarily related to higher mortgage banking fees due to MSR valuation impacts and larger gains on sales of loans originated for sale, an increase