Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 231

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 231
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, 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 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 - diluted0.59 (1.03)0.56 0.74 0.52 Effective tax rate16.03 %N/M18.61 %(12.33)%19.78 %N/M = Not Meaningful

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Table 2 Net Interest Income Analysis  Three Months Ended, Mar 31, 2025Dec 31, 2024Mar 31, 2024 ($ in thousands)AverageBalanceInterestIncome /ExpenseAverageYield /RateAverageBalanceInterestIncome /ExpenseAverageYield /RateAverageBalanceInterestIncome /ExpenseAverageYield /RateAssetsEarning assetsLoans(a)(b)Commercial and business lending$11,724,484 $185,985 6.43%$11,474,489 $194,355 6.74%$10,816,255 $194,090 7.22%Commercial real estate lending7,313,994 121,034 6.71%7,206,796 128,476