Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 205

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 205
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333,000, respectively, and a liability notional amount and fair value of $300 million and $1 million, respectively.(b) The notional amount of the mortgage derivative asset includes interest rate lock commitments, while the notional amount of the mortgage derivative liability includes forward commitments. As of March 31, 2025 the fair value amount of the mortgage derivative asset included interest rate lock commitments, while the fair value amount of the mortgage derivative liability included forward commitments. As of December 31, 2024 the fair value of the mortgage derivative asset included approximately $327,000 of interest rate lock commitments and approximately $254,000 of forward commitments.The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:Line Item in the Consolidated Balance Sheets in Which the Hedged Item is IncludedCarrying Amount of the Hedged Assets/(Liabilities)(a)Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)Carrying Amount of the Hedged Assets/(Liabilities)(a)Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)($ in thousands)Mar 31, 2025Dec 31, 2024Other long-term funding$(299,479)$521 $(296,004)$3,996 FHLB advances(595,778)4,222 (592,256)7,744 Total$(895,257)$4,743 $(888,260)$11,740 (a) Excludes hedged items where only foreign currency risk is the designated hedged risk. At March 31, 2025 and December 31, 2024, the carrying amount excluded for foreign currency denominated loans was $344 million.The Corporation terminated its $500 million fair value hedge during the fourth quarter of 2019. At March 31, 2025, the amortized cost basis of the closed portfolios which had previously been used in the terminated hedging relationship was $212 million and is included in loans on the consolidated balance sheets. This amount includes approximately $807,000 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