Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 72

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 72
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 changes in economic and market conditions, the Corporation could be outside of the allocation ranges for brief periods of time. The asset allocation for the RAP as of the December 31, 2024 and 2023 measurement dates, respectively, by asset category were as follows:Asset Category20242023Equity securities55 %54 %Fixed-income securities35 %34 %Group annuity contracts8 %10 %Other2 %2 %Total100 %100 %The RAP assets include cash equivalents, such as money market accounts, mutual funds, common / collective trust funds (which include investments in equity and bond securities), and a group annuity contract. Money market accounts are stated at cost plus accrued interest, mutual funds are valued at quoted market prices, investments in common / collective trust funds are valued at the amount at which units in the funds can be withdrawn, and the group annuity contract is valued at fair value by discounting the related cash flows based on current yields of similar instruments with comparable durations and considering the credit worthiness of the issuer. Based on these inputs, the following tables summarize the fair value of the RAP’s investments:  Fair Value Measurements Using($ in thousands)December 31, 2024Level 1Level 2Level 3RAP investmentsMoney market account$7,892 $7,892 $— $— Common /collective trust funds183,059 183,059 — — Mutual funds247,602 247,602 — — Group annuity contract40,416 — — 40,416 Total RAP investments$478,970 $438,554 $— $40,416  Fair Value Measurements Using($ in thousands)December 31, 2023Level 1Level 2Level 3RAP investmentsMoney market account$10,040 $10,040 $— $— Common /collective trust funds164,891 164,891 — — Mutual funds234,840 234,840 — — Group annuity contract43,687 — — 43,687 Total RAP investments$453,457 $409,771 $— $43,687 The following presents a summary of the changes in the fair value of the RAP's Level 3 asset during the periods indicated. Fair Value Reconciliation of Level 3 RAP Investments