Company: ASB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000007789-25-000116
Chunk: 187

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 187
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0.74 for diluted earnings per common share.  The decrease was mainly attributable to a tax benefit recognized in the second quarter of 2024.

Fully tax-equivalent net interest income for the second quarter of 2025 was $304.2 million, $43.9 million, or 17%, higher than the second quarter of 2024. The net interest margin between the comparable quarters was up 29 bp, to 3.04% in the second quarter of 2025. The increases in net interest income and net interest margin were primarily due to a mix shift in earning assets attributable to the balance sheet repositioning announced in the fourth quarter of 2024. 

Average earning assets increased $2.1 billion to $40.1 billion in the second quarter of 2025, driven by an increase in total loans and increases in total investments given our reinvestment of a portion of the proceeds from the common stock issuance in the fourth quarter of 2024. Average loans increased $912.4 million, driven by increases in all asset categories except residential mortgage, which decreased due to the balance sheet repositioning announced in the fourth quarter of 2024 and real estate construction. On the funding side, average interest-bearing deposits increased $1.6 billion, or 6%, from the second quarter of 2024, due to increases in all deposit categories except money market which saw a slight contraction. Average short and long-term funding increased $311.5 million, or 8%, primarily driven by an increase in FHLB advances, particularly short-term as the 

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Corporation paid down the majority of its long-term FHLB advances as part of the balance sheet repositioning announced in the fourth quarter of 2024, partially offset by a decrease in other short-term funding due to the pay off of BTFP.

The provision for credit losses was $18.0 million for the second quarter of 2025, compared to a provision of $23.0 million for the second quarter of 2024. This was due to decreases in commercial real estate lending and commercial real estate - investor, offset by smaller increases in commercial and business lending. See discussion under sections: Provision for Credit Losses, Nonperforming Assets, and Allowance for Credit Losses on Loans.

Noninterest income for the second quarter of 2025 was $67.0 million, up $1.8 million, or 3%, compared to the second quarter of