Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 101

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 101
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 residential mortgage loans held for saleForward commitments to sell residential mortgage loansTotalBalance December 31, 2022$86 $46 $40 New production6,557 (1,816)8,373 Closed loans / settlements(4,171)2,494 (6,665)Other(2,033)(51)(1,982)Change in mortgage derivative352 627 (274)Balance December 31, 2023$439 $673 $(234)New production$11,771 $(4,000)$15,771 Closed loans / settlements(8,816)3,512 (12,328)Other(3,068)(438)(2,630)Change in mortgage derivative(113)(927)814 Balance December 31, 2024$327 $(254)$580 Assets and Liabilities Measured at Fair Value on a Nonrecurring BasisFollowing is a description of the valuation methodologies used for the Corporation’s more significant instruments measured on a nonrecurring basis at LOCOM, including the general classification of such instruments pursuant to the valuation hierarchy.Commercial Loans Held For Sale: The estimated fair value is based on a discounted cash flow analysis, which the Corporation classifies as a Level 2 nonrecurring fair value measurement. OREO: Certain OREO, upon initial recognition, was re-measured and reported at fair value through a charge off to the allowance for loan losses based upon the estimated fair value of the OREO, less estimated selling costs. The fair value of OREO, upon initial recognition or subsequent impairment, was estimated using appraised values, which the Corporation classifies as a Level 2 nonrecurring fair value measurement. For Level 3 assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2024, the Corporation utilized the following valuation techniques and significant unobservable inputs: 

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Individually Evaluated Loans: The Corporation individually evaluates loans when a commercial loan relationship over $500,000 is in nonaccrual status or, prior to 2023, when a commercial or consumer loan relationship had its terms restructured in a TDR or when a loan met the Corporation's definition of a probable TDR. On January 1, 2023, the Corporation adopted ASU 2022-02 prospectively. As a result, loans that were restructured prior to adoption are no longer considered TDRs and are