Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 229

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 7
Chunk 229
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(1,042)454 1,338 (1,496)(884)N/M(66)%Investment securities (losses) gains, net(144,147)(58,903)3,746 (85,244)(62,649)145 %N/MTotal noninterest (loss) income$(9,407)$63,182 $282,370 $(72,589)$(219,188)N/M(78)%Mortgage loans originated for sale during period$617,889 $395,834 $600,114 $222,055 $(204,280)56 %(34)%Mortgage loan settlements during period584,781 1,212,069 715,035 (627,288)497,034 (52)%70 %Mortgage portfolio loans transferred to held for sale during period722,991 968,595 — (245,603)968,595 (25)%N/MAssets under management, at market value(a)14,773 13,545 11,843 1,228 1,702 9 %14 %

N/M = Not Meaningful

(a) $ in millions. Excludes assets held in brokerage accounts.

Notable Contributions to the Change in 2024 Noninterest Income

•The 2024 loss on the mortgage portfolio sale was the result of an announced sale of $723 million of residential mortgages related to the balance sheet repositioning in the fourth quarter of 2024 and the sale closed in January 2025.

•Investment securities (losses) gains, net decreased from 2023, driven primarily by the sale of lower yielding AFS securities with a carrying value of $1.1 billion at a net loss of $148 million, related to the balance sheet repositioning in the fourth quarter of 2024.

53

Noninterest Expense

Table 4 Noninterest Expense  Years Ended December 31,$ Change% Change ($ in thousands)2024202320222024 from 20232023 from 20222024 from 20232023 from 2022Personnel$487,956 $468,355 $454,101 $19,601 $14,254 4 %3 %Technology107,563 102,018 90,700 5,545 11,318 5 %12 %Occupancy54,622 57,