Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 268

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 268
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, down $14 million, or 6%, from the fourth quarter of 2024, driven primarily by the recognition of a loss on prepayment of FHLB advances as part of the balance sheet restructuring announced in the fourth quarter of 2024 (see Table 4).

For the first quarter of 2025, the Corporation recognized income tax expense of $19 million, compared to an income tax benefit of $16 million for the fourth quarter of 2024 given the net income recognized in the first quarter as compared to the net loss recognized in the fourth quarter. See section Income Taxes for a more detailed discussion.

Segment Review

The reportable segments are Corporate and Commercial Specialty; Community, Consumer and Business; and Risk Management and Shared Services. The financial information of the Corporation’s segments was compiled utilizing the accounting policies described in the Corporation’s 2024 Annual Report on Form 10-K and Note 14 Segment Reporting of the notes to consolidated financial statements.

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Table 20 Selected Segment Financial DataThree Months Ended Mar 31,($ in thousands)20252024% ChangeCorporate and Commercial SpecialtyTotal revenue$146,847 $144,033 2%Provision for credit losses19,014 14,998 27%Noninterest expense45,152 42,778 6%Income tax expense15,696 17,808 (12)%Net income66,985 68,449 (2)%Average earning assets17,002,754 16,025,524 6%Average loans16,997,009 16,020,376 6%Average deposits7,244,897 7,277,094 —%Community, Consumer, and BusinessTotal revenue$247,252 $252,430 (2)%Provision for credit losses6,072 7,256 (16)%Noninterest expense136,817 134,062 2%Income tax expense21,916 23,335 (6)%Net income82,447 87,777 (6)%Average earning assets12,650,533 12,787,358 (1)%Average loans12,647,122 12,787,358 (1)%Average deposits21,294,167 20,128,601 6%Risk Management and Shared ServicesTotal revenue$(49,382)$(73,620)(33)%Provision for credit losses(12,083)1,747 N/MNoninterest