Company: ASB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000007789-25-000116
Chunk: 11

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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6 %9 %N/M = Not Meaningful(a) In millions. Excludes assets held in brokerage accounts.

57

Notable Contributions to the Change in Noninterest Income 

•Mortgage banking increased $2.9 million from the first six months of 2024, primarily as a result of MSR valuation impacts and increased gains on sales of mortgage loans originated for sale.

•Loss on mortgage portfolio sale increased $7.0 million from the first six months of 2024, due to the recognition of a loss in the first quarter of 2025 related to the settlement of the balance sheet repositioning transactions announced in the fourth quarter of 2024.

•Bank and corporate owned life insurance increased $2.2 million from the first six months of 2024, driven by an increased number of claims.

•Investment securities gains (losses), net, decreased $3.9 million from the first six months of 2024, as a result of the sale of the Corporation's remaining Visa B shares in the first quarter of 2024.

Noninterest Expense

Table 4 Noninterest Expense Six months endedThree months endedChange vs(Dollars in thousands)Jun 30, 2025Jun 30, 2024YTD % ChangeJun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2025Jun 30, 2024Personnel$250,890 $240,976 4 %$126,994 $123,897 $125,944 $121,036 $121,581 2 %4 %Technology53,646 53,362 1 %26,508 27,139 26,984 27,217 27,161 (2)%(2)%Occupancy28,025 26,761 5 %12,644 15,381 14,325 13,536 13,128 (18)%(4)%Business development and advertising14,134 14,052 1 %7,748 6,386 7,408 6,683 7,535 21 %3 %Equipment9,021 9,049 — %4,494 4,527 4,729 4,653 4,450 (1)%1 %