Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 7

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 7
---
,384 Balance, December 31, 2024200 $194,112 189,016 $1,890 $2,047,349 $2,919,252 $(74,416)$(482,626)$4,605,562 

Numbers may not sum due to rounding.

(a) MSRs at December 31, 2021 were carried at LOCOM. On January 1, 2022, the Corporation made the irrevocable election to account for MSRs at fair value.

(b) Common stock dividends of $0.89 per share for 2024, $0.85 per share for 2023, and $0.81 per share for 2022.

(c) Series E, $1.46875 per share; and Series F, $1.40625 per share.

See accompanying notes to consolidated financial statements.

84

ASSOCIATED BANC-CORP

Consolidated Statements of Cash FlowsFor the Years Ended December 31,($ in thousands)202420232022Cash flows from operating activitiesNet income$123,145 $182,956 $366,122 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses84,986 83,021 32,998 Depreciation and amortization48,845 46,989 45,088 Change in MSRs valuation(4,646)(10,660)(22,264)Amortization of other intangible assets8,811 8,811 8,811 Amortization and accretion on earning assets, funding, and other, net44,857 38,508 14,980 Net amortization of tax credit investments34,841 34,246 34,684 Losses on sales of investment securities, net144,326 64,864 1,674 Asset losses (gains), net1,042 (454)(1,338)Loss on mortgage banking activities, net3,529 2,919 3,654 Loss on mortgage portfolio sale130,406 136,239 — Mortgage loans originated and acquired for sale(617,889)(395,834)(600,114)Proceeds from sales of mortgage loans held for sale584,781 367,707 715,035 Changes in certain assets and liabilities:Decrease (increase) in interest receivable1,