Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 221

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 7
Chunk 221
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 earning assets while margin compressed as a result of a shift in mix within deposits into higher cost funding from noninterest-bearing demand deposits. 

•Provision for credit losses was $85 million in 2024, compared to $83 million in 2023.

•Noninterest income (loss) of $(9) million in 2024 decreased $73 million from 2023, primarily due to higher investment securities losses related to nonrecurring items from the balance sheet repositioning announced in the fourth quarter of 2024. 

•Noninterest expense of $818 million in 2024 increased $5 million, or 1%, from 2023, as a result of increased personnel expense as the Corporation continues to execute our growth strategy and the loss on prepayments of FHLB advances related to the balance sheet repositioning announced in the fourth quarter of 2024, partially offset by decreased FDIC assessment expense. 

49

Income Statement Analysis

Net Interest Income

Table 1 Net Interest Income Analysis Years Ended December 31,202420232022 ($ in thousands)AverageBalanceInterestIncome /ExpenseAverageYield /RateAverageBalanceInterestIncome /ExpenseAverageYield /RateAverageBalanceInterestIncome /ExpenseAverageYield /RateAssetsEarning assetsLoans(a)(b)(c)Commercial and business lending$11,069,185 $786,963 7.11 %$10,831,275 $740,017 6.83 %$9,852,303 $384,155 3.90 %Commercial real estate lending7,270,239 538,228 7.40 %7,314,651 520,028 7.11 %6,595,635 281,485 4.27 %Total commercial18,339,424 1,325,191 7.23 %18,145,926 1,260,045 6.94 %16,447,938 665,640 4.05 %Residential mortgage7,907,962 278,804 3.53 %8,696,706 293,446 3.37 %8,052,277 245,975 3.05 %Auto finance2,576,979 144,892 5.62 %1,793,959 89,454 4.99 %805,179 30,749 3.82