Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 88

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 88
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.As a result of make whole requests, the Corporation has repurchased loans with aggregate principal balances of $3 million and $5 million for the years ended December 31, 2024 and 2023, respectively. There were no loss reimbursement and settlement claims paid for the years ended December 31, 2024, or 2023. Make whole requests since January 1, 2023 generally arose from loans originated since January 1, 2021 with such balances totaling $4.4 billion at the time of sale, consisting primarily of loans sold to GSEs. As of December 31, 2024, $2.6 billion of those loans originated since January 1, 2021 remain outstanding. The balance in the mortgage repurchase reserve at the balance sheet date reflects the estimated amount of potential loss the Corporation could incur from repurchasing a loan, as well as loss reimbursements, indemnifications, and other settlement resolutions. The mortgage repurchase reserve, included in accrued expenses and other liabilities on the consolidated balance sheets, was approximately $553,000 at December 31, 2024 and approximately $835,000 at December 31, 2023. The Corporation may also sell residential mortgage loans with limited recourse (limited in that the recourse period ends prior to the loan’s maturity, usually after certain time and/or loan paydown criteria have been met), whereby repurchase could be required if the loan had defined delinquency issues during the limited recourse periods. At December 31, 2024 and December 31, 2023, there were $14 million and $15 million, respectively, of residential mortgage loans sold with such recourse risk. There have been limited instances and immaterial historical losses on repurchases for recourse under the limited recourse criteria.The Corporation has a subordinate position to the FHLB in the credit risk on residential mortgage loans it sold to the FHLB Mortgage Partnership Finance Traditional program in exchange for a monthly credit enhancement fee. At December 31, 2024 and December 31, 2023, there were $134 million and $16 million, respectively, of such residential mortgage loans with credit risk recourse, upon which there have been immaterial historical losses to the Corporation.

131

Note 16 Parent Company Only Financial Information 

Presented below are condensed financial statements for the Parent Company:Balance SheetsDecember 31,($ in thousands)20242023AssetsCash and due from banks$36,158 $22,473 Interest-bearing deposits in other