Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 56

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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Numbers may not recalculate due to rounding conventions.(a) Common stock dividends of $0.22 per share.

(b) Preferred stock dividends for Series E of $0.3671875 per share and for Series F of $0.3515625 per share.

See accompanying notes to consolidated financial statements.

8

Item 1. Financial Statements Continued:

ASSOCIATED BANC-CORP

Consolidated Statements of Cash Flows (Unaudited)Three Months Ended Mar 31, ($ in thousands)20252024Cash flows from operating activitiesNet income$101,687 $81,169 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses13,003 24,001 Depreciation and amortization13,981 12,352 Change in MSRs valuation1,047 (1,646)Amortization of other intangible assets2,203 2,203 Amortization and accretion on earning assets, funding, and other, net6,336 10,673 Net amortization of tax credit investments8,689 8,990 Gains on sales of investment securities, net— (3,857)Asset losses, net878 306 Loss (gain) on mortgage banking activities, net329 (22)Loss on mortgage portfolio sale6,976 — Mortgage loans originated and acquired for sale(92,584)(105,394)Proceeds from sales of mortgage loans held for sale105,642 91,026 Changes in certain assets and liabilities:Decrease in interest receivable8,044 2,477 (Decrease) increase in interest payable(2,025)15,590 Decrease in expense payable(53,261)(30,827)(Decrease) increase in net derivative position(36,128)35,008 Net change in other assets and other liabilities13,349 12,453 Net cash provided by operating activities98,166 154,500 Cash flows from investing activitiesNet increase in loans(513,237)(222,656)Purchases of:AFS securities(391,952)(341,275)HTM securities(994)— FHLB and Federal Reserve Bank stocks and equity securities(71,364)(16,585)Proceeds from:Sales of AFS securities— 9,472 Sales of FHLB and Federal Reserve Bank stocks and equity securities56