Company: ASB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000007789-25-000116
Chunk: 12

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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Legal and professional12,757 9,101 40 %6,674 6,083 6,861 5,639 4,429 10 %51 %Loan and foreclosure costs5,299 3,771 41 %2,705 2,594 1,951 2,748 1,793 4 %51 %FDIC assessment20,144 21,077 (4)%9,708 10,436 9,139 8,223 7,131 (7)%36 %Other intangible amortization4,405 4,405 — %2,203 2,203 2,203 2,203 2,203 — %— %Loss on prepayments of FHLB advances— — N/M— — 14,243 — — N/MN/MOther21,648 10,963 97 %9,674 11,974 10,496 8,659 6,450 (19)%50 %Total noninterest expense$419,971 $393,518 7 %$209,352 $210,619 $224,282 $200,597 $195,861 (1)%7 %Average FTEs excluding overtime3,993 4,048 (1)%3,980 4,006 3,982 4,041 4,025 (1)%(1)%

Notable Contributions to the Change in Noninterest Expense

•Legal and professional expense increased $3.7 million from the first six months of 2024, primarily driven by increased consultant and IT staff augmentation expenses in the current year.

•Other noninterest expense increased $10.7 million from the first six months of 2024 primarily due to additional OREO write downs in the first half of 2025.  Additionally in the first six months of 2024, there was a gain on the sale of OREO properties which did not reoccur in 2025.

Income Taxes

The Corporation records income tax expense during interim periods based on the best estimate of the full year's effective tax rate as adjusted for discrete items, if any, taken into account in the relevant interim period. Each quarter, the Corporation updates its estimate of the annual effective tax rate and the effect of any change in the estimated rate is