Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 87

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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 Residential mortgage3,037 346 572 Auto finance1 — — Home equity267 — — Other consumer2,421 — — Total loans modified$6,184 $346 $572 The following table depicts the performance of loans that have been modified in the twelve months ended March 31, 2024:Payment Status (Amortized Cost Basis)($ in thousands)Current30-89 Days Past Due90+ Days Past DueCommercial and industrial$377 $— $— Residential mortgage1,107 175 55 Auto finance75 3 — Home equity199 47 75 Other consumer1,487 — — Total loans modified$3,244 $224 $131 

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None of the loans modified in the previous twelve months subsequently had a payment default during the three months ended March 31, 2025. The following table provides the amortized cost of loan modifications by loan portfolio and type of concession that were modified in the previous twelve months had a payment default during the three months ended March 31, 2024:Amortized Cost of Loan Modifications that Subsequently Defaulted($ in thousands)Interest Rate ConcessionTerm ExtensionCombination Interest Rate Concession and Term ExtensionAuto finance$11 $— $— Total loans modified$11 $— $— The nature and extent of the impairment of modified loans, including those which have experienced a subsequent payment default, are considered in the determination of an appropriate level of the ACLL.Allowance for Credit Losses on LoansThe ACLL is comprised of the allowance for loan losses and the allowance for unfunded commitments. The level of the ACLL represents management’s estimate of an amount appropriate to provide for expected lifetime credit losses in the loan portfolio at the balance sheet date. The expected lifetime credit losses are the product of multiplying the Corporation's estimates of probability of default, loss given default, and the individual loan level exposure at default on an undiscounted basis. A main factor in the determination of the ACLL is the economic forecast. The forecast the Corporation used for March 31, 2025 was the Moody's baseline scenario from February 2025, which was reviewed against the March 2025 baseline scenario with no material updates made, over a two year reasonable and supportable period with straight-line reversion to the historical losses over the second year of the period. The allowance for unfunded commitments