Company: ASB
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000007789-25-000179
Chunk: 200

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 200
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)266,353 Commercial mortgage-related securities:FNMA/FHLMC2 (1,343)25,518 43 (157,735)598,077 (159,078)623,595 GNMA— — — 13 (6,424)46,032 (6,424)46,032 Total391 $(13,665)$529,064 901 $(582,241)$2,519,595 $(595,906)$3,048,660 The Corporation reviews the AFS investment securities portfolio on a quarterly basis to monitor its credit exposure. A determination as to whether a security’s decline in fair value is the result of credit risk takes into consideration numerous factors and the relative significance of any single factor can vary by security. Some factors the Corporation may consider in this impairment analysis include the extent to which the security has been in an unrealized loss position, the change in security rating, financial condition and near-term prospects of the issuer, as well as the security and industry specific economic conditions. Based on the Corporation’s evaluation, management does not believe any unrealized losses at September 30, 2025 represent credit deterioration as these unrealized losses are primarily attributable to changes in interest rates and the current market conditions. As of September 30, 2025, the Corporation does not intend to sell, nor does it believe that it will be required to sell, the securities in an unrealized loss position before recovery of their amortized cost basis.FHLB and Federal Reserve Bank stocks: The Corporation is required to maintain Federal Reserve Bank stock and FHLB stock as a member bank of both the Federal Reserve System and the FHLB, and in amounts as required by these institutions. These equity securities are “restricted” in that they can only be sold back to the respective institutions or another member institution at par. Therefore, they are less liquid than other marketable equity securities and their fair value is equal to amortized cost. The Corporation had FHLB stock of $153.6 million and $91.5 million at September 30, 2025 and December 31, 2024, respectively. The Corporation had Federal Reserve Bank stock of $98.1 million and $88.1 million at September 30, 2025 and December 31, 2024, respectively. Accrued interest receivable on FHLB stock totaled $3.6 million at September 30, 2025 and $1