Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 40

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 40
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 the three months ended March 31, 2024, primarily driven by more favorable FTP allocations.

•Noninterest expense increased $8 million from the three months ended March 31, 2024, primarily due to a $4 million increase in personnel expense, a $2 million increase in occupancy expense, and a $6 million increase in other noninterest expense primarily due to a $4 million OREO write down. These increases were offset by a $4 million decrease in FDIC expense due to a nonrecurring FDIC special assessment expense incurred in the first quarter of 2024 and lower allocated expenses.

69

•Net loss decreased $27 million from the three months ended March 31, 2024, primarily due to the changes noted above and a $3 million income tax benefit primarily due to the release of a valuation reserve on deferred taxes.

•Average earning assets increased $846 million from the three months ended March 31, 2024, driven by higher balances of AFS investment securities in the portfolio and higher deposits in other financial institutions offset by a decrease in average loans. 

•Average loans decreased $94 million from the three months ended March 31, 2024, driven by lower balances in all loan categories.

•Average deposits increased $433 million from the three months ended March 31, 2024, primarily driven by increases in all deposit types except for time deposits. 

Critical Accounting Estimates

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. The determination of the ACLL is particularly susceptible to significant change. A discussion of these estimates can be found in the Critical Accounting Estimates section in Management's Discussion and Analysis of Financial Condition and Results of Operations included in the Corporation’s 2024 Annual Report on Form 10-K. There have been no changes in the Corporation's application of critical accounting estimates since December 31, 2024. 

Recent Developments

On April 29, 2025, the Corporation’s Board of Directors declared a regular quarterly cash dividend of $0.23 per common share, payable on June 16, 2025, to shareholders of record at the close of business on June 2, 2025.

The Board of Directors also declared a regular quarterly cash dividend of $0.3671875 per depositary share on Associated's 5.875%