For those in the States, I wish you a Happy Thanksgiving! Depending on when you are reading this, you might be taking a well-earned nap, watching football, or enjoying the company of family. While we enjoy the holiday season, another joy in financial lifeDerek is an individual investor seeking to navigate the investment world to provide a wealthy and stable retirement for his family. He aims to help fellow investors, notably younger investors, establish a plan to produce a growing income stream. Derek holds ...

GREEN BAY, Wis., Nov. 14, 2024 /PRNewswire/ -- Associated Banc-Corp ("Associated") (NYSE: ASB) today announced the pricing of a public offering of 12,000,000 shares of its common stock, $0.01 par value (the "Common Stock"), at a public offering price of $25.00 per share, for aggregate gross proceeds of $300 million.In addition, Associated Banc-Corp has granted the underwriters an option to purchase up to an additional 1,800,000 shares of its Common Stock for 30 days following the date of this pricing. The o ...

GREEN BAY, Wis., Nov. 14, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) today announced a proposed public offering of 11,500,000 shares of its common stock, $0.01 par value (the "Common Stock").In addition, Associated Banc-Corp ("Associated") expects to grant the underwriters for the offering an option to purchase up to an additional 1,725,000 shares of its Common Stock sold in the offering for 30 days following the date of the pricing of the offering.Associated expects to use the net proceeds from ...

GREEN BAY, Wis., Oct. 30, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) announced today that Management expects to meet with investors during the Piper Sandler East Coast Financial Services Conference in Naples, FL on November 13-15, 2024.Fourth quarter investor materials are expected to be made available prior to the event and can be accessed through the Investor Relations section of the Company's website at http://investor.associatedbank.com.ABOUT ASSOCIATED BANC-CORPAssociated Banc-Corp (NYSE: AS ...

[PART I. Financial Information](index=5&type=section&id=PART%20I.%20Financial%20Information) [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements detail the financial position, operations, and cash flows, showing asset growth to **$42.2 billion** and a net income increase to **$284.8 million** for the nine months ended September 30, 2024 [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to **$42.2 billion** by September 30, 2024, driven by growth in net loans and available-for-sale investment securities, with corresponding increases in liabilities and stockholders' equity Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2024 (Unaudited) | Dec 31, 2023 (Audited) | | :--- | :--- | :--- | | **Total Assets** | **$42,210,815** | **$41,015,855** | | Loans, net | $29,629,131 | $28,865,124 | | AFS investment securities, at fair value | $4,152,527 | $3,600,892 | | HTM investment securities, net | $3,769,150 | $3,860,160 | | Goodwill | $1,104,992 | $1,104,992 | | **Total Liabilities** | **$37,797,579** | **$36,841,882** | | Total deposits | $33,554,298 | $33,446,049 | | Short-term funding | $917,028 | $326,780 | | FHLB advances | $1,913,294 | $1,940,194 | | **Total Stockholders' Equity** | **$4,413,236** | **$4,173,973** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) Net income for the nine months ended September 30, 2024, increased to **$284.8 million**, despite a slight decrease in net interest income and higher provision for credit losses Income Statement Summary (in thousands, except per share data) | Metric | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $776,960 | $786,171 | $262,509 | $254,244 | | Provision for credit losses | $68,000 | $62,014 | $20,991 | $21,943 | | Noninterest Income | $197,365 | $194,195 | $67,221 | $66,579 | | Noninterest Expense | $594,115 | $574,291 | $200,597 | $196,205 | | **Net Income** | **$284,760** | **$273,762** | **$88,018** | **$83,248** | | Net Income Available to Common Equity | $276,135 | $265,137 | $85,143 | $80,373 | | **Diluted EPS** | **$1.82** | **$1.75** | **$0.56** | **$0.53** | [Consolidated Statements of Comprehensive Income](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Total comprehensive income significantly increased to **$344.1 million** for the nine months ended September 30, 2024, primarily due to net income and a positive shift in other comprehensive income Comprehensive Income Summary (in thousands) | Metric | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Net Income | $284,760 | $273,762 | | Total Other Comprehensive Income (Loss) | $59,348 | $(66,340) | | **Comprehensive Income** | **$344,108** | **$207,422** | [Consolidated Statements of Changes in Stockholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity increased to **$4.41 billion** by September 30, 2024, driven by net income and positive other comprehensive income, partially offset by dividends - Stockholders' equity grew to **$4.41 billion** by the end of Q3 2024, up from **$4.17 billion** at the start of the year[15](index=15&type=chunk)[17](index=17&type=chunk) - Key drivers for the equity change in the first nine months of 2024 include net income of **$284.8 million**, offset by common stock dividends of **$100.6 million** and preferred stock dividends of **$8.6 million**[15](index=15&type=chunk)[16](index=16&type=chunk)[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was **$373.1 million** for the nine months ended September 30, 2024, with investing activities using **$1.17 billion** and financing activities providing **$843.1 million** Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $373,120 | $378,110 | | Net cash (used in) investing activities | $(1,173,035) | $(2,224,411) | | Net cash provided by financing activities | $843,134 | $1,937,635 | | **Net increase in cash and cash equivalents** | **$43,219** | **$91,334** | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed disclosures on accounting policies, investment and loan portfolios, credit quality, goodwill, funding, derivatives, and segment reporting [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=50&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial condition and results of operations, highlighting a slight decrease in net interest income to **$777 million** and growth in average loans and deposits for the nine months ended September 30, 2024 [Performance Summary](index=50&type=section&id=Performance%20Summary) The performance summary for the first nine months of 2024 shows growth in average loans and deposits, a decrease in net interest income, and an increase in the provision for credit losses - Average loans increased by **$135 million** year-over-year, driven by auto finance and commercial lending[197](index=197&type=chunk) - Average deposits grew by **$2.0 billion** (**6%**) year-over-year, led by increases in time and interest-bearing demand deposits[198](index=198&type=chunk) - Net interest income decreased by **1%** to **$777 million**, and the net interest margin fell to **2.77%** from **2.86%** in the prior year period, attributed to interest-bearing liability growth outpacing earning asset growth[199](index=199&type=chunk) - The provision for credit losses was **$68 million**, up from **$62 million** in the first nine months of 2023, reflecting macroeconomic trends[200](index=200&type=chunk) [Income Statement Analysis](index=52&type=section&id=Income%20Statement%20Analysis) Income statement analysis reveals a 1% decrease in net interest income due to rising liability costs, a 2% increase in noninterest income, and a 3% rise in noninterest expense Net Interest Income Analysis (Nine Months Ended Sep 30) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Average Earning Assets ($ thousands) | $37,929,019 | $37,413,946 | | Average Interest-Bearing Liabilities ($ thousands) | $30,573,791 | $28,970,746 | | Net Interest Income ($ thousands) | $776,960 | $786,171 | | Net Interest Margin (FTE) | 2.77% | 2.86% | - Noninterest income increased by **$3 million** (**2%**) YoY, driven by a **$7 million** increase in wealth management fees and a **$4 million** increase in investment securities gains[201](index=201&type=chunk)[218](index=218&type=chunk)[219](index=219&type=chunk) - Noninterest expense increased by **$20 million** (**3%**) YoY, primarily due to a **$14 million** rise in personnel expense and a **$4 million** increase in FDIC expense[202](index=202&type=chunk)[220](index=220&type=chunk)[221](index=221&type=chunk) - The effective tax rate for the first nine months of 2024 was **8.79%**, down significantly from **20.43%** in the prior-year period, due to deferred tax benefits from a strategic reallocation of the investment portfolio and a legal entity rationalization plan[222](index=222&type=chunk) [Balance Sheet Analysis](index=56&type=section&id=Balance%20Sheet%20Analysis) Total assets grew to **$42.2 billion** by September 30, 2024, driven by loan and AFS securities growth, while credit quality remained stable with nonaccrual loans decreasing - Total assets grew by **$1.2 billion** (**3%**) from Dec 31, 2023, reaching **$42.2 billion**[224](index=224&type=chunk) Loan Composition as of Sep 30, 2024 (in thousands) | Loan Category | Amount | % of Total | | :--- | :--- | :--- | | Total Commercial | $18,564,683 | 62% | | Total Consumer | $11,426,214 | 38% | | **Total Loans** | **$29,990,897** | **100%** | Nonperforming Assets (in thousands) | Metric | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total nonaccrual loans | $128,476 | $148,997 | | Total nonperforming assets | $148,098 | $160,421 | | NPAs to total assets | 0.35% | 0.39% | - The Allowance for Credit Losses on Loans (ACLL) was **$397.5 million**, or **1.33%** of total loans, at September 30, 2024[260](index=260&type=chunk)[261](index=261&type=chunk) [Liquidity and Capital Resources](index=64&type=section&id=Liquidity%20and%20Capital%20Resources) The Corporation maintains strong liquidity with **$12.5 billion** available and capital ratios well above regulatory minimums, while also increasing its common stock dividend - Total available liquidity stood at **$12.5 billion** as of September 30, 2024[277](index=277&type=chunk) - Estimated uninsured and uncollateralized deposits were **22.3%** of total deposits at September 30, 2024. Secured funding available within one business day covered these deposits by **127%**[269](index=269&type=chunk)[277](index=277&type=chunk) Capital Ratios as of Sep 30, 2024 | Ratio | Value | | :--- | :--- | | CET1 capital ratio | 9.72% | | Tier 1 capital ratio | 10.30% | | Total capital ratio | 12.36% | | Tier 1 leverage ratio | 8.49% | - On October 29, 2024, the Board of Directors declared a quarterly cash dividend of **$0.23** per common share, an increase of **$0.01** from the previous quarter[323](index=323&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=73&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The Corporation manages market and interest rate risk through ALCO, using simulation models to assess Earnings at Risk and Market Value of Equity, with an asset-sensitive profile as of September 30, 2024 Estimated % Change in Earnings at Risk (EAR) Over 12 Months | Gradual Rate Change | Dynamic Forecast (Sep 30, 2024) | Static Forecast (Sep 30, 2024) | | :--- | :--- | :--- | | 100 bp increase | 1.6% | 1.5% | | 100 bp decrease | (1.0)% | (0.7)% | Estimated % Change in Market Value of Equity (MVE) | Instantaneous Rate Change | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | 100 bp increase | (9.8)% | (10.1)% | | 100 bp decrease | 8.7% | 9.7% | - The Corporation's interest rate risk profile is **asset sensitive** as of September 30, 2024, indicating that a higher yield curve generally adds to income[284](index=284&type=chunk) [Controls and Procedures](index=74&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of September 30, 2024, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the Corporation's disclosure controls and procedures were **effective** as of September 30, 2024[329](index=329&type=chunk) - No material changes were made to the internal control over financial reporting during the third quarter of 2024[330](index=330&type=chunk) [PART II. Other Information](index=75&type=section&id=PART%20II.%20Other%20Information) [Legal Proceedings](index=75&type=section&id=Item%201.%20Legal%20Proceedings) The Corporation is involved in various legal proceedings arising from normal business, which management believes will not have a material adverse financial effect - The company is involved in various legal proceedings from normal business operations but does not expect them to have a **material adverse financial impact**[141](index=141&type=chunk)[145](index=145&type=chunk) [Risk Factors](index=75&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the Corporation's 2023 Annual Report on Form 10-K have been reported - No material changes in risk factors were reported since the 2023 Form 10-K[334](index=334&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=75&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2024, the Corporation repurchased **15,537** common shares for **$347,000** solely for tax withholding on equity compensation, with **$61 million** remaining authorized for repurchase Common Stock Purchases (Q3 2024) | Period | Total Number of Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | July 1 - July 31, 2024 | 6,764 | $22.91 | | Aug 1 - Aug 31, 2024 | 8,396 | $21.94 | | Sep 1 - Sep 30, 2024 | 377 | $21.27 | | **Total** | **15,537** | **$22.35** | - All share repurchases in Q3 2024 were for minimum tax withholding settlements on equity compensation[335](index=335&type=chunk) [Other Information](index=75&type=section&id=Item%205.%20Other%20Information) No director or officer of the Corporation adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the third quarter of 2024 - No director or officer adopted or terminated a Rule 10b5-1 trading plan in Q3 2024[337](index=337&type=chunk) [Exhibits](index=76&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including the Global Note, a retirement agreement, Sarbanes-Oxley certifications, and interactive data files - Exhibits filed include certifications by the CEO and CFO, a retirement agreement, and interactive data files[339](index=339&type=chunk)[340](index=340&type=chunk)[341](index=341&type=chunk)

GREEN BAY, Wis., Oct. 29, 2024 /PRNewswire/ -- The Board of Directors of Associated Banc-Corp (NYSE: ASB) ("Associated") today declared a regular quarterly cash dividend of $0.23 per common share, payable on December 16, 2024, to shareholders of record at the close of business on December 2, 2024. This is an increase of $0.01 from the previous quarterly dividend of $0.22 per common share. The Board of Directors also declared a regular quarterly cash dividend of $0.3671875 per depositary share on Associated' ...

Associated Banc-Corp's (ASB) third-quarter 2024 earnings of 56 cents per share surpassed the Zacks Consensus Estimate of 51 cents. Also, the bottom line compared favorably with 53 cents earned in the prioryear quarter. See the Zacks Earnings Calendar to stay ahead of market-making news. Results benefited from higher loans and deposit balance, which along with relatively high interest rates, supported net interest income (NII). Further, an increase in non-interest income and lower provisions act as tailwinds ...

Associated Banc-Corp (NYSE:ASB) Q1 2024 Earnings Conference Call October 24, 2024 5:00 PM ET Company Participants Andrew Harmening - President and Chief Executive Officer Derek Meyer - Executive Vice President and Chief Financial Officer Patrick Ahern - Executive Vice President, Chief Credit Officer and Chicago Market President Conference Call Participants Daniel Tamayo - Raymond James Scott Siefers - Piper Sandler Jared Shaw - Barclays Jon Arfstrom - Capital Markets Terry McEvoy - Stephens Inc. Timur Brazi ...

For the quarter ended September 2024, Associated Banc-Corp (ASB) reported revenue of $329.73 million, up 1.3% over the same period last year. EPS came in at $0.56, compared to $0.53 in the year-ago quarter.The reported revenue represents a surprise of -2.02% over the Zacks Consensus Estimate of $336.52 million. With the consensus EPS estimate being $0.51, the EPS surprise was +9.80%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

Associated Banc-Corp (ASB) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.80%. 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 $0.52, delivering no surprise.Over the last four quarters, the c ...