Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-31343 Associated Banc-Corp (920) 491-7500 (Registrant's telephone number, including area code) (not applicable) ...

GREEN BAY, Wis., April 30, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated") today announced the results of the actions taken at its 2024 Annual Meeting of Shareholders. Annual Meeting Results The following directors were elected: John (Jay) B. Williams, chairman, Associated Banc-Corp, and chairman, Church Mutual Insurance Company Andrew J. Harmening, president and chief executive officer, Associated Banc-Corp R. Jay Gerken, director of 17 mutual funds associated with Sanford C. Bernstei ...

Associated Banc-Corp’s (ASB) first-quarter 2024 earnings of 52 cents per share beat the Zacks Consensus Estimate of 49 cents. However, the bottom line compared unfavorably with the prior-year quarter’s earnings of 66 cents. The results in the reported quarter include the FDIC special assessment charge.Results benefited from higher non-interest income and a rise in loans and deposit balance. However, a decline in net interest income (NII) and an increase in expenses and provisions were headwinds.Net income a ...

Financial Data and Key Metrics Changes - The company reported diluted GAAP earnings of $0.52 per share for Q1 2024, indicating underlying strength in core earnings despite a challenging operating environment [12][48] - Core customer deposits grew by 2% in Q1, marking the third consecutive quarter of deposit growth, with a total increase of $1.4 billion since mid-2023 [13][25] - Net interest income (NII) for Q1 was $258 million, a $4 million increase from the previous quarter, with a net interest margin (NIM) increase of 10 basis points to 2.79% [28][30] Business Line Data and Key Metrics Changes - Loans grew by $278 million in Q1, driven by growth in the prime/super prime auto portfolio and commercial and industrial (C&I) segments [14][26] - Non-interest income was $65 million, up $3 million from the same period last year, but down $5 million from the previous quarter [15][34] - Non-interest expense for Q1 was $198 million, which included $8 million in FDIC special assessment costs, reflecting a focus on expense discipline [36] Market Data and Key Metrics Changes - The company noted resilience in its Midwestern markets, with unemployment levels in Wisconsin and Minnesota remaining at or below 3% [8] - The consumer remains relatively healthy despite rising prices, and commercial customers are exploring investments while being cautious of current challenges [8] Company Strategy and Development Direction - The company is focused on executing Phase 2 of its strategic plan, which includes key hires, product launches, and enhancing customer experiences [11][20] - The strategic plan aims for total loan growth of 4% to 6%, core customer deposit growth of 3% to 5%, and net interest income growth of 2% to 4% for 2024 [23][48] - The company emphasizes quality, relationship-focused loan growth to enhance profitability and reduce reliance on lower-yielding assets [47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position due to disciplined credit practices and a strong foundation in stable markets [8][12] - Despite macroeconomic uncertainties, the company expects to see continued progress throughout the year, with a focus on maintaining expense discipline [12][48] Other Important Information - The company was recognized by J.D. Power for retail banking satisfaction in the Upper Midwest and received awards for workplace culture [10][18] - The allowance for credit losses increased by $2 million to $388 million, reflecting loan growth in select areas [40] Q&A Session Summary Question: Margin guidance and rate cut assumptions - Management indicated that margin guidance remains unchanged despite the removal of three rate cut assumptions, suggesting a neutral impact from potential rate changes [50][51] Question: Non-interest-bearing deposit growth - The company expects non-interest-bearing deposits to stabilize around $5.8 billion to $5.9 billion, with a goal to grow closer to $6 billion by year-end [54][55] Question: Savings and money market growth drivers - Growth in savings and money market accounts is attributed to increased household deposits and expansion in the mass affluent segment [57][58] Question: Fee income and capital markets outlook - Management remains confident in the fee income range despite fluctuations, expecting a rebound in capital markets activity in the second half of the year [69][71] Question: Expense trajectory and hiring plans - Expenses are expected to rise gradually throughout the year as the company continues to invest in marketing and technology while filling key positions [76][78] Question: Customer demand and loan growth expectations - Management noted steady growth in commercial loans, driven by quality hires and a strong pipeline of customer conversations [80][81] Question: Exposure to the trucking industry - The company's exposure to the trucking industry is limited, with $700 million in commitments, and management sees no emerging risks in this area [83]

Associated Banc-Corp (ASB) reported $326.61 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.2%. EPS of $0.52 for the same period compares to $0.66 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $327.46 million, representing a surprise of -0.26%. The company delivered an EPS surprise of +6.12%, with the consensus EPS estimate being $0.49.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Associated Banc-Corp (ASB) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.12%. A quarter ago, it was expected that this bank holding company would post earnings of $0.52 per share when it actually produced earnings of $0.53, delivering a surprise of 1.92%.Over the last four quarter ...

First Quarter 2024 Earnings Presentation APRIL 25, 2024 Forward-Looking Statements Important note regarding forward-looking statements: Statements made in this presentation which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management’s plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Such fo ...

Exhibit 99.1 NEWS RELEASE Investor Contact: Ben McCarville, Vice President, Director of Investor Relations 920-491-7059 Media Contact: Marilka Vélez, Senior Vice President, Senior Director of Marketing 920-491-7518 Associated Banc-Corp Reports First Quarter 2024 Net Income Available to Common Equity of $78 Million, or $0.52 per Common Share Results driven by balance sheet growth, margin expansion and continued execution of strategic initiatives GREEN BAY, Wis. -- April 25, 2024 -- Associated Banc-Corp (NYSE ...

Results driven by balance sheet growth, margin expansion and continued execution of strategic initiatives GREEN BAY, Wis., April 25, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income available to common equity ("earnings") of $78 million, or $0.52 per common share, for the quarter ended March 31, 2024. These amounts compare to a loss of $94 million, or $(0.62) per common share, for the quarter ended December 31, 2023 and earnings of $100 million, or ...

Associated Banc-Corp (ASB) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on April 25, 2024, might help the stock move higher if these key numbers are better th ...