Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 60

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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vested restricted stock awards). Presented below are the calculations for basic and diluted earnings per common share: Three Months Ended Mar 31, ($ in thousands, except per share data)20252024Net income$101,687 $81,169 Preferred stock dividends(2,875)(2,875)Net income available to common equity98,812 78,294 Common shareholder dividends(38,333)(33,407)Unvested share-based payment awards(206)(120)Undistributed earnings$60,274 $44,767 Undistributed earnings allocated to common shareholders$59,997 $44,524 Undistributed earnings allocated to unvested share-based payment awards277 242 Undistributed earnings$60,274 $44,767 BasicDistributed earnings to common shareholders$38,333 $33,407 Undistributed earnings allocated to common shareholders59,997 44,524 Total common shareholders earnings, basic$98,329 $77,932 DilutedDistributed earnings to common shareholders$38,333 $33,407 Undistributed earnings allocated to common shareholders59,997 44,524 Total common shareholders earnings, diluted$98,329 $77,932 Weighted average common shares outstanding165,228 149,855 Effect of dilutive common stock awards1,377 1,436 Diluted weighted average common shares outstanding166,604 151,292 Basic earnings per common share$0.60 $0.52 Diluted earnings per common share$0.59 $0.52 

Excluded from the earnings per common share calculations were 1 million and 2 million anti-dilutive common stock options for the three months ended March 31, 2025 and 2024, respectively.

Note 4 Stock-Based Compensation 

The fair values of stock options and restricted stock awards are amortized as compensation expense on a straight-line basis over the vesting period of the grants. For colleagues who meet the definition of retirement eligible under the 2020 Incentive Compensation Plan, expenses related to stock options and restricted stock awards are fully recognized on the date the colleague meets the definition of normal or early retirement. Compensation expense recognized is included in personnel expense on the consolidated statements of income. A summary of the Corporation’s stock option activity for the three months ended March 31, 2025 is presented below:Stock OptionsShares(a)Weighted