Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 102

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 102
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 not individually evaluated. See Note 3 for additional information regarding the Corporation’s individually evaluated loans.Equity Securities Without Readily Determinable Fair Values: The Corporation measures equity securities without readily determinable fair values at cost less impairment (if any), plus or minus observable price changes from an identical or similar investment of the same issuer, with such changes recognized in earnings. Included in equity securities without readily determinable fair values were Visa Class B restricted shares carried at fair value, of which the Corporation sold all remaining shares during the first quarter of 2024.In its determination of the new carrying values upon observable price changes, the Corporation will adjust the prices if deemed necessary to arrive at the Corporation's estimated fair values. Such adjustments may include adjustments to reflect the different rights and obligations of similar securities and other adjustments. See Note 2 for additional disclosure regarding the Corporation’s equity securities without readily determinable fair values.The following table presents a rollforward of the fair value of Level 3 equity securities that are measured under the measurement alternative, and the related adjustments recorded during the periods presented for those securities with observable price changes:($ in thousands)Fair value as of December 31, 2022$19,225 Gains recognized in investment securities gains, net5,861 Purchases11 Sales(329)Fair value as of December 31, 2023$24,769 Gains recognized in investment securities gains, net$4,054 Purchases22 Sales(28,772)Fair value as of December 31, 2024$72 The table below presents the Corporation’s assets measured at fair value on a nonrecurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall:($ in thousands)Fair Value HierarchyFair ValueConsolidated Statements of Income Category ofAdjustment Recognized in IncomeAdjustment Recognized on the Consolidated Statements of Income(a)December 31, 2024AssetsIndividually evaluated loansLevel 3$31,483 Provision for credit losses$17,454 OREO(b)Level 2276 Other noninterest expense / provision for credit losses(c)1,067 December 31, 2023AssetsIndividually evaluated loansLevel 3$47,221 Provision for credit losses$45,709 OREO(b)Level 23,139 Other noninterest expense / provision for credit losses(c)2,532 Equity securities without readily determin