Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 266

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 266
---
,941 $270,289 $262,509 $256,593 $257,858 Noninterest income58,776 (206,772)67,221 65,159 64,985 Less: Investment securities gains (losses), net4 (148,194)100 67 3,879 Fully tax-equivalent adjustment4,254 3,680 3,723 3,747 3,770 Total revenue for fully tax-equivalent efficiency ratio348,968 215,390 333,353 325,432 322,733 Less: Announced initiatives(b)(6,976)(130,406)— — — Total revenue for adjusted efficiency ratio$355,943 $345,795 $333,353 $325,432 $322,733 Efficiency ratios (expense / revenue)Fully tax-equivalent efficiency ratio59.72 %103.11 %59.51 %59.51 %60.56 %Adjusted efficiency ratio58.55 %60.10 %59.51 %59.51 %58.18 %

(a) These capital measurements are used by management, regulators, investors, and analysts to assess, monitor, and compare the quality and composition of our capital with the capital of other financial services companies.

(b) The ratio tangible common equity to tangible assets excludes goodwill and other intangible assets, net. This financial measure has been included as it is considered to be a critical metric with which to analyze and evaluate financial condition and strength.

(c) Adjusted net income and adjusted net income available to common equity, which are used in the calculation of return on average tangible assets and return on average tangible common equity, respectively, add back other intangible amortization, net of tax.

(d) The Corporation is not classified as an advanced approaches holding company as defined by the Federal Reserve. As such, the Corporation has elected to be subject to the AOCI-related adjustments when calculating common equity tier 1 capital which allows the Corporation to opt-out of the requirement to include most components of AOCI in common equity tier 1 capital. This adjustment reflects that election.

(e) Management believes this measure is meaningful because it reflects adjustments commonly made by management, investors, regulators, and analysts to evaluate the adequacy of earnings per common share, provide greater understanding of ongoing operations, and enhance comparability of results with prior periods.

67

Sequential Quarter Results

The Corporation