Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 92

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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 %Home equity18,032 (216)1,366 1,150 (97)19,085 2.87 %Other consumer13,812 (6,922)1,096 (5,826)10,373 18,359 5.76 %Total consumer94,613 (17,709)5,647 (12,062)15,935 98,486 0.91 %Total loans$385,870 $(76,415)$7,867 $(68,549)$85,000 $402,322 1.35 %

Note 7 Goodwill and Other Intangible Assets 

GoodwillGoodwill is not amortized but is instead subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Corporation conducted its most recent annual impairment testing in May 2024, utilizing a qualitative assessment. Based on this assessment, management concluded that it is more likely than not that the estimated fair value exceeded the carrying value (including goodwill) for each reporting unit. Therefore, a step one quantitative analysis was not required. There have been no events since the May 2024 impairment test that have changed the Corporation's impairment assessment conclusion. There were no impairment charges recorded in 2024 or the first three months of 2025.

29

The Corporation had goodwill of $1.1 billion at both March 31, 2025 and December 31, 2024. Core Deposit IntangiblesThe Corporation has CDIs which are amortized. Changes in the gross carrying amount, accumulated amortization, and net book value for CDIs were as follows:($ in thousands)Three Months Ended Mar 31, 2025Year Ended Dec 31, 2024Core deposit intangiblesGross carrying amount at the beginning of period$88,109 $88,109 Accumulated amortization(58,652)(56,449)Net book value$29,457 $31,660 Amortization during the period$2,203 $8,811 Mortgage Servicing RightsThe Corporation sells residential mortgage loans in the secondary market and typically retains the right to service the loans sold. MSRs are not traded in active markets. As a result, a cash flow model is used to determine fair value. Key assumptions and estimates