Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 1

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 1
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 lending and auto finance loans, partially offset by a decrease in residential mortgage lending resulting from the Corporation's balance sheet repositioning announced in the fourth quarter of 2024.

•Average deposits of $34.8 billion increased $1.6 billion, or 5%, from the first three months of 2024, driven by increases in all deposit types except noninterest-bearing demand and money market deposits.

•Net interest income of $286 million increased $28 million, or 11%, from the first three months of 2024, and net interest margin was 2.97%, compared to 2.79% for the first three months of 2024. The increases in net interest income and net interest margin were primarily driven by balance sheet repositioning announced in the fourth quarter of 2024.

•Provision for credit losses was $13 million compared to $24 million for the first three months of 2024, driven by nominal credit movement coupled with general macroeconomic trends.

•Noninterest income of $59 million decreased $6 million, or 10%, from the first three months of 2024, primarily driven by a $7 million loss recognized related to the settlement of the mortgage loan sale as part of the balance sheet repositioning announced in the fourth quarter of 2024.

•Noninterest expense of $211 million increased $13 million, or 7%, from the first three months of 2024, primarily driven by increases in personnel expense due to annual merit increases and other noninterest expense primarily due to a $4 million OREO write down, partially offset by a decrease in FDIC assessment expense given the recognition of the FDIC special assessment in the first quarter of 2024.

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Table of Contents

Table 1 Summary Results of Operations: Trends Three months ended($ in thousands, except per share data)Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Net income (loss)$101,687 $(161,615)$88,018 $115,573 $81,169 Net income (loss) available to common equity98,812 (164,490)85,143 112,698 78,294 Earnings (loss) per common share - basic 0.60 (1.04)0.56 0.75 0.52 Earnings (loss) per common share -