分组1 - Associated Banc-Corp reported quarterly earnings of $0.52 per share, matching the Zacks Consensus Estimate, but down from $0.56 per share a year ago [1] - The company posted revenues of $325.5 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.77% and down from $328.25 million year-over-year [1] - Over the last four quarters, Associated Banc-Corp has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [1] 分组2 - The stock has gained approximately 8.2% since the beginning of the year, compared to the S&P 500's gain of 13.8% [2] - The current consensus EPS estimate for the upcoming quarter is $0.54 on revenues of $341 million, and for the current fiscal year, it is $2.12 on revenues of $1.35 billion [4] - The Zacks Industry Rank for Banks - Midwest is in the top 42% of over 250 Zacks industries, indicating a favorable outlook for the industry [5] 分组3 - The estimate revisions trend for Associated Banc-Corp is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [4] - German American Bancorp, another company in the same industry, is expected to report quarterly earnings of $0.61 per share, reflecting a year-over-year decline of 18.7% [5][6]

Second Quarter 2024 Earnings Presentation JULY 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 ...

[Associated Banc-Corp Second Quarter 2024 Earnings Release](index=1&type=section&id=Associated%20Banc-Corp%20Second%20Quarter%202024%20Earnings%20Release) The report details Associated Banc-Corp's Q2 2024 financial performance, asset quality, capital position, and strategic outlook [Earnings Summary and Highlights](index=1&type=section&id=Earnings%20Summary%20and%20Highlights) The company reported strong Q2 2024 GAAP earnings of $113 million, boosted by a significant one-time tax benefit Quarterly Earnings Comparison | Metric | Q2 2024 (GAAP) | Q2 2024 (Adjusted) | Q1 2024 | Q2 2023 | | :--- | :--- | :--- | :--- | :--- | | Net Income to Common Equity | $113 million | $80 million | $78 million | $84 million | | Diluted EPS | $0.74 | $0.52 | $0.52 | $0.56 | - Management commentary emphasized the success of Phase 1 of their strategic plan, resulting in encouraging trends such as **industry-leading customer satisfaction** and the **strongest consumer checking household growth in over a decade**[2](index=2&type=chunk) - The company feels **well-positioned for the second half of the year** due to foundational discipline, market stability, and execution of its strategic plan, despite near-term macro uncertainty[2](index=2&type=chunk) Key Financial Metrics (Q2 2024) | Metric | Q2 2024 Value | | :--- | :--- | | Net Interest Income | $257 million | | Net Interest Margin | 2.75% | | Noninterest Income | $65 million | | Noninterest Expense | $196 million | | Provision for Credit Losses | $23 million | | ACLL / Total Loans | 1.32% | [Financial Performance Analysis](index=3&type=section&id=Financial%20Performance%20Analysis) Q2 2024 featured modest loan growth, a slight deposit decrease, stable net interest income, and controlled expenses [Loans](index=3&type=section&id=Loans) Average total loans grew by $211 million, driven by commercial and consumer lending, with a revised annual forecast Average Loan Balances | Loan Category (Average Balance) | Q2 2024 | QoQ Change | YoY Change | | :--- | :--- | :--- | :--- | | Commercial & Business | $11.0 billion | +$195 million | +$112 million | | Commercial Real Estate | $7.2 billion | -$140 million | -$46 million | | Consumer Lending | $11.3 billion | +$156 million | +$75 million | | **Total Average Loans** | **$29.6 billion** | **+$211 million** | **+$141 million** | - The company now expects 2024 total loan growth to be at the **lower end of the previously guided 4% to 6% range** on a period-end basis[5](index=5&type=chunk) [Deposits](index=3&type=section&id=Deposits) Average deposits decreased by $638 million due to declines in demand and money market accounts, revising guidance lower Average Deposit Balances | Deposit Category (Average Balance) | Q2 2024 | QoQ Change | YoY Change | | :--- | :--- | :--- | :--- | | Noninterest-bearing Demand | $5.7 billion | -$170 million | -$958 million | | Money Market | $6.0 billion | -$122 million | -$749 million | | Total Time Deposits | $6.9 billion | -$271 million | +$1.9 billion | | **Total Average Deposits** | **$32.6 billion** | **-$638 million** | **+$1.3 billion** | - The company now expects 2024 core customer deposit growth to finish at the **lower end of the previously guided 3% to 5% range** on a period-end basis[9](index=9&type=chunk) [Net Interest Income and Net Interest Margin](index=4&type=section&id=Net%20Interest%20Income%20and%20Net%20Interest%20Margin) Net interest income remained stable at $257 million, though the net interest margin compressed by 4 basis points to 2.75% Net Interest Income and Margin Summary | Metric | Q2 2024 | QoQ Change | YoY Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $257 million | -$1 million | -$1 million | | Net Interest Margin | 2.75% | -4 bps | -5 bps | - The average cost of total interest-bearing liabilities **increased by 5 basis points** from the prior quarter to 3.60%, while the average yield on total loans decreased by 1 basis point to 6.21%[10](index=10&type=chunk) - Based on current market conditions, the company now expects total net interest income growth of **1% to 3% in 2024**[11](index=11&type=chunk) [Noninterest Income](index=4&type=section&id=Noninterest%20Income) Total noninterest income was flat at $65 million, with revised full-year guidance now between -1% and 1% growth - Key drivers of noninterest income included a **$2 million increase in wealth management fees** and a **$1 million increase in card-based fees** compared to the prior year[12](index=12&type=chunk)[13](index=13&type=chunk) - The quarterly decrease was primarily driven by a **$4 million gain on the sale of Visa B shares** recognized in Q1 2024, which did not recur[13](index=13&type=chunk) - Excluding the impact of 2023 sales, the company now expects total noninterest income to finish within a range of **negative 1% to 1% growth in 2024**[13](index=13&type=chunk) [Noninterest Expense](index=5&type=section&id=Noninterest%20Expense) Noninterest expense decreased 1% sequentially to $196 million due to a lower FDIC assessment, with annual guidance unchanged - **FDIC assessment expense decreased by $7 million** from the prior quarter, which was the primary driver of the overall expense reduction[14](index=14&type=chunk) - Compared to the prior year, **personnel expense increased by $7 million** and **technology expense increased by $3 million**, reflecting strategic investments[14](index=14&type=chunk) - After adjusting for FDIC special assessments, the company continues to expect total noninterest expense to **grow by 2% to 3% in 2024**[15](index=15&type=chunk) [Taxes](index=5&type=section&id=Taxes) The company recognized a $13 million tax benefit, driven by a one-time $33 million deferred tax benefit from portfolio reallocation - A strategic reallocation of the investment securities portfolio resulted in a **one-time deferred tax benefit of approximately $33 million** during the quarter[16](index=16&type=chunk) - Excluding the one-time benefit, the company continues to expect the annual effective tax rate to be between **19% and 21% in 2024**[16](index=16&type=chunk) [Asset Quality and Capital](index=6&type=section&id=Asset%20Quality%20and%20Capital) Credit quality remained stable with a consistent provision for credit losses, while the company's capital position remains strong [Credit Quality](index=6&type=section&id=Credit%20Quality) Provision for credit losses was stable at $23 million, while nonaccrual loans decreased to $154 million Key Credit Metrics | Credit Metric | Q2 2024 | Q1 2024 | Q2 2023 | | :--- | :--- | :--- | :--- | | Provision for Credit Losses | $23 million | $24 million | $22 million | | Nonaccrual Loans | $154 million | $178 million | $131 million | | Net Charge Offs | $21 million | $22 million | $11 million | | ACLL / Total Loans | 1.32% | 1.31% | 1.26% | [Capital](index=6&type=section&id=Capital) The company maintains a strong capital position, with a Common Equity Tier 1 ratio of 9.68% exceeding regulatory minimums - The **CET1 capital ratio was 9.68%** at June 30, 2024[19](index=19&type=chunk) - The Company's capital ratios are in excess of the **Basel III "well-capitalized" regulatory benchmarks**[19](index=19&type=chunk) [Financial Statements and Reconciliations](index=8&type=section&id=Financial%20Statements%20and%20Reconciliations) This section provides detailed unaudited financial tables, asset quality metrics, and non-GAAP measure reconciliations [Consolidated Financial Statements](index=8&type=section&id=Consolidated%20Financial%20Statements) Total assets were $41.6 billion as of June 30, 2024, with quarterly net income of $116 million Selected Balance Sheet Data | Balance Sheet Item | June 30, 2024 | March 31, 2024 | June 30, 2023 | | :--- | :--- | :--- | :--- | | Total Assets | $41.6 billion | $41.1 billion | $41.2 billion | | Loans, net | $29.3 billion | $29.1 billion | $29.5 billion | | Total Deposits | $32.7 billion | $33.7 billion | $32.0 billion | | Total Stockholders' Equity | $4.2 billion | $4.2 billion | $4.1 billion | Selected Income Statement Data | Income Statement Item | Q2 2024 | Q1 2024 | Q2 2023 | | :--- | :--- | :--- | :--- | | Net Interest Income | $256.6 million | $257.9 million | $257.9 million | | Noninterest Income | $65.2 million | $65.0 million | $65.5 million | | Net Income | $115.6 million | $81.2 million | $87.2 million | | Diluted EPS | $0.74 | $0.52 | $0.56 | [Asset Quality Details](index=12&type=section&id=Asset%20Quality%20Details) Net charge-offs were $21.2 million, while nonaccrual loans decreased by 13% quarter-over-quarter to $154.4 million Net Charge-Offs by Category (Q2 2024) | Net Charge-Offs by Category | Q2 2024 ($ thousands) | | :--- | :--- | | Commercial and Business Lending | (13,674) | | Commercial Real Estate Lending | (4,541) | | Total Consumer | (2,947) | | **Total Net Charge-Offs** | **(21,163)** | Nonaccrual Loans by Category (June 30, 2024) | Nonaccrual Loans by Category | June 30, 2024 ($ thousands) | QoQ Change | | :--- | :--- | :--- | | Commercial and Business Lending | 23,041 | -69% | | Commercial Real Estate Lending | 48,265 | +158% | | Total Consumer | 83,117 | -3% | | **Total Nonaccrual Loans** | **154,423** | **-13%** | [Non-GAAP Reconciliations](index=17&type=section&id=Non-GAAP%20Reconciliations) This section reconciles GAAP net income to adjusted earnings and provides calculations for other non-GAAP metrics Reconciliation of Net Income | Reconciliation ($ in millions) | Q2 2024 | Q2 2024 per share | | :--- | :--- | :--- | | GAAP Net Income | $116 | $0.74 | | Tax Benefit (one-time item) | ($33) | ($0.22) | | **Net Income, excluding one-time item** | **$83** | **$0.52** | Reconciliation of Core Customer Deposits | Deposit Reconciliation ($ in millions) | June 30, 2024 | | :--- | :--- | | Total Deposits | $32,691 | | Less: Network Transaction Deposits | ($1,503) | | Less: Brokered CDs | ($4,062) | | **Core Customer Deposits** | **$27,127** | - The return on average tangible common equity, a non-GAAP measure, was **16.25% for Q2 2024**, compared to 11.31% in Q1 2024 and 12.38% in Q2 2023[38](index=38&type=chunk)

Core Viewpoint - Associated Banc-Corp reported a net income of $113 million for Q2 2024, with adjusted earnings of $80 million, reflecting a strategic execution and positive trends in customer satisfaction and checking household growth [1][2]. Financial Performance - Net income available to common equity was $113 million, or $0.74 per share, for Q2 2024, compared to $78 million ($0.52 per share) in Q1 2024 and $84 million ($0.56 per share) in Q2 2023 [1][2]. - Total quarterly average loan growth was $211 million, while total average core customer deposits decreased by $240 million compared to Q1 2024 [2][3]. - Net interest income for Q2 2024 was $257 million, with a net interest margin of 2.75%, reflecting a slight decrease from the previous quarter [4]. Loan and Deposit Trends - Average total loans increased to $29.6 billion, with commercial and business lending up by $195 million from the prior quarter [2][3]. - Average deposits decreased to $32.6 billion, with noninterest-bearing demand deposits down by $170 million from the prior quarter [3]. Noninterest Income and Expense - Total noninterest income was $65 million, showing slight increases in wealth management fees and card-based fees, but a decrease in investment securities gains [5]. - Total noninterest expense was $196 million, a decrease of 1% from the prior quarter, with personnel and technology expenses increasing [6]. Credit Quality - Provision for credit losses was $23 million, with nonaccrual loans decreasing to $154 million, resulting in a nonaccrual loans to total loans ratio of 0.52% [7]. - The allowance for credit losses on loans was $390 million, representing a ratio of 1.32% [7]. Capital Position - The company's capital position remains strong, with a CET1 capital ratio of 9.68% as of June 30, 2024, exceeding Basel III regulatory benchmarks [7].

The upcoming report from Associated Banc-Corp (ASB) is expected to reveal quarterly earnings of $0.52 per share, indicating a decline of 7.1% compared to the year-ago period. Analysts forecast revenues of $331.36 million, representing an increase of 1% year over year.The current level reflects an upward revision of 2.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this p ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Associated Banc-Corp (ASB) , which belongs to the Zacks Banks - Midwest industry.When looking at the last two reports, this bank holding company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 4.02%, on average, in the last two quarters.For the last reported quarter, Associated Banc-Corp came out with earning ...

Investors with an interest in Banks - Midwest stocks have likely encountered both Associated Banc-Corp (ASB) and Huntington Bancshares (HBAN) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings est ...

Group 1 - Associated Banc-Corp announced the retirement of Tammy C. Stadler, Executive Vice President, Corporate Controller and Chief Accounting Officer, effective July 15, 2024, with a consultative role until September 1, 2024 [1] - Ryan Beld, currently the Assistant Controller, will succeed Stadler in the roles of Corporate Controller and Chief Accounting Officer [1] - Beld joined Associated in 2020 and has prior experience as a senior financial analyst with Northwestern Mutual and as a CPA with KPMG LLP [1] Group 2 - Associated Banc-Corp has total assets of $41 billion and is the largest bank holding company based in Wisconsin [2] - The company operates nearly 200 banking locations serving over 100 communities in Wisconsin, Illinois, and Minnesota, with additional loan production offices in several other states [2]

GREEN BAY, Wis., June 26, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) today announced it expects to release second quarter 2024 financial results on Thursday, July 25, 2024, after market close. The Company also expects to host a conference call for investors and analysts at 4:00 p.m. Central Time (CT) on the same day.Interested parties can access the live webcast of the call through the Investor Relations section of the Company's website, http://investor.associatedbank.com. Parties may also dial i ...

Core Viewpoint - Associated Banc-Corp's (ASB) outlook has been reaffirmed as stable by Moody's Investors Service, maintaining its Baa3 standalone baseline credit assessment and issuer rating for long-term senior unsecured notes [1][2] Group 1: Reasons for Affirming the Ratings - The affirmation reflects a balance between credit headwinds from a concentrated portfolio in commercial real estate (CRE) loans and mitigating qualitative and quantitative factors [2] - ASB's CRE exposure, which represents 241% of its tangible common equity (TCE) as of March 31, 2024, may pressure asset quality and profitability due to the high interest rate environment [2] - ASB's TCE/risk-weighted assets (RWA) ratio was 9.3% as of March 31, 2024, indicating relative weakness in capitalization compared to peers, which magnifies the impact of CRE [2] Group 2: Portfolio Composition and Management - CRE loans constitute only 25% of ASB's total loans, which is lower than many regional banks, and the largest CRE exposures are well-underwritten and managed [3] - The company's long-run profitability, with a five-year average net income/tangible assets of 0.8% from 2019 to 2023, is deemed sufficient to mitigate CRE concentration risks at the current rating level [3] Group 3: Liquidity and Profitability Metrics - ASB's balance sheet liquidity is considered a relative weakness, with liquid banking assets comprising 15.6% of tangible banking assets [4] - Core deposit funding is adequate, with approximately 77% of deposits insured and collateralized, despite depositors switching to higher interest accounts [4] - Profitability metrics are moderate, with a marginal improvement expected in 2024 due to balance sheet repositioning efforts, including the sale of low-yield residential loans [4][5] Group 4: Outlook and Potential Rating Changes - The stable outlook is primarily due to ASB's concentrated loan portfolio in CRE and weaker capital and liquidity compared to peers, although insured deposit mix and well-managed CRE loans mitigate default risk [6] - Ratings could be upgraded if TCE/RWA ratio exceeds 10.5%, pre-provision profitability improves, and loan losses decrease [7] - Ratings could be downgraded if asset quality worsens or if TCE/RWA ratio falls below 9% [8] Group 5: Market Performance - Shares of Associated Banc-Corp have increased by 22.1% over the past year, outperforming the industry's growth of 15.4% [9]