Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 39

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 39
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Average earning assets17,002,754 16,025,524 6%Average loans16,997,009 16,020,376 6%Average deposits7,244,897 7,277,094 —%Community, Consumer, and BusinessTotal revenue$247,252 $252,430 (2)%Provision for credit losses6,072 7,256 (16)%Noninterest expense136,817 134,062 2%Income tax expense21,916 23,335 (6)%Net income82,447 87,777 (6)%Average earning assets12,650,533 12,787,358 (1)%Average loans12,647,122 12,787,358 (1)%Average deposits21,294,167 20,128,601 6%Risk Management and Shared ServicesTotal revenue$(49,382)$(73,620)(33)%Provision for credit losses(12,083)1,747 N/MNoninterest expense28,651 20,817 38%Income tax benefit(18,203)(21,127)(14)%Net loss(47,747)(75,058)(36)%Average earning assets9,629,650 8,783,297 10%Average loans466,851 561,288 (17)%Average deposits6,294,400 5,861,362 7%

N//M = Not meaningful

Notable Changes in Segment Financial Data

Corporate and Commercial Specialty

•Average earning assets and average loans both increased $977 million from the three months ended March 31, 2024, primarily driven by growth in commercial and business lending.

Community, Consumer, and Business

•Net income decreased $5 million from the three months ended March 31, 2024, driven by a $7 million decrease in net interest income due to lower FTP allocations and a $2 million increase in noninterest expense primarily due to increased technology expenses. These were offset by a $2 million increase in noninterest income primarily due to increased mortgage banking revenues and a $1 million reduction in income tax expense due to lower pre-tax income.

•Average deposits increased $1.2 billion from the three months ended March 31, 2024, driven by increases in all interest-bearing deposit categories, partially offset by decreases in noninterest bearing demand deposits. 

Risk Management and Shared Services

•Total revenue increased $24 million from