Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 62

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 years. Expense for restricted stock awards of $8 million was recorded for both the three months ended March 31, 2025 and the three months ended March 31, 2024. Included in compensation expense for the accelerated vesting of restricted stock awards granted to retirement eligible colleagues was $4 million and $3 million of expense the first three months of 2025 and 2024, respectively. The Corporation had $29 million of unrecognized compensation costs related to restricted stock awards at March 31, 2025 that are expected to be recognized over the remaining requisite service periods that extend through the first quarter of 2029.The Corporation has the ability to issue shares from treasury or new shares upon the exercise of stock options or the granting of restricted stock awards. The Board of Directors has authorized management to repurchase shares of the Corporation’s common stock, to be made available for issuance in connection with the Corporation’s employee incentive plans and for other corporate purposes. The repurchase of shares, if any, will be based on market and investment opportunities, capital levels, growth prospects, and regulatory constraints. Such repurchases may occur from time to time in open market purchases, block transactions, private transactions, accelerated share repurchase programs, or similar facilities.

13

Note 5 Investment Securities 

Investment securities are designated as AFS, HTM, or equity on the consolidated balance sheets. The amortized cost and fair values of AFS and HTM securities at March 31, 2025 were as follows:($ in thousands)AmortizedCostGrossUnrealizedGainsGrossUnrealized(Losses)Fair ValueAFS investment securitiesObligations of state and political subdivisions (municipal securities)$3,063 $— $(68)$2,995 Residential mortgage-related securities:FNMA/FHLMC125,024 486 (7,474)118,036 GNMA4,418,218 22,659 (1,913)4,438,964 Commercial mortgage-related securities:FNMA/FHLMC18,240 — (1,281)16,959 GNMA115,654 — (4,221)111,433 Asset backed securities:FFELP105,633 52 (911)104,774 SBA427 — (17)410 Other debt securities3,000 — (1)2,999 Total AFS investment securities$4,