Associated Banc-p(US:ASB)2025-10-23 20:17Financial Performance - Net income available to common equity for Q3 2025 was $122 million, or $0.73 per common share, up from $108 million, or $0.65 per share in Q2 2025, and $85 million, or $0.56 per share in Q3 2024[1]. - Noninterest income for Q3 2025 was $81 million, an increase of $14 million from both the prior quarter and the same period last year[14]. - Net income for Q3 2025 was reported at $124,732, a 12% increase from $111,230 in Q2 2025[30]. - Earnings per common share for Q3 2025 were $0.73, up 12% from $0.65 in the previous quarter[30]. - Net income increased by 42% to $124,732,000, compared to $88,018,000 in the same quarter last year[28]. - The company reported a net income of $337,648 thousand for the year-to-date, up from $284,760 thousand in the previous year, indicating a growth of 18.5%[47]. Income and Expenses - Total noninterest expense for Q3 2025 was $216 million, up $7 million from Q2 2025 and $16 million from Q3 2024[15]. - Total noninterest expense increased by 8% to $216,202,000, compared to $200,597,000 in the same quarter last year[28]. - Noninterest expense for the latest quarter was $636,173 thousand, compared to $594,115 thousand in the same quarter last year, reflecting an increase of 7.1%[47]. Loans and Deposits - Total period end loans reached $31.0 billion, up 1% from Q2 2025 and 3% from Q3 2024[4]. - Total period end deposits increased to $34.9 billion, a 2% increase from Q2 2025 and a 4% increase from Q3 2024[9]. - Total loans increased to $30,750,460 thousand with an interest income of $456,153 thousand, maintaining an average yield of 5.89%[32]. - Total deposits reached $34,881,853 thousand in September 2025, up from $34,147,565 thousand in September 2024, indicating a growth of 2.1% year-over-year[47]. Capital and Ratios - The CET1 capital ratio stood at 10.33% as of September 30, 2025, exceeding Basel III regulatory benchmarks[20]. - Common equity Tier 1 capital ratio increased to 10.33% in Q3 2025 from 10.20% in Q3 2024, showing a 13 basis point improvement[42]. - Return on average equity rose to 9.55% in Q3 2025, up from 9.00% in Q3 2024, indicating a 55 basis point increase[42]. - The allowance for loan losses slightly increased by $1,826 thousand to $378,341 thousand[26]. Interest Income and Margin - Record net interest income of $305 million, a 2% increase from Q2 2025 and a 16% increase from Q3 2024[4]. - Total interest income increased by 3% to $556,591,000 compared to $540,318,000 in the same quarter last year[28]. - The net interest margin improved to 3.02% in 2025 from 2.77% in 2024, indicating a positive trend in profitability[35]. - The company reported a fully tax-equivalent net interest margin of 3.04% for the quarter[32]. Credit Quality - Provision for credit losses on loans was $16 million, down from $18 million in the prior quarter and $21 million in the same period last year[19]. - Nonaccrual loans decreased to $106 million, with a nonaccrual loans to total loans ratio of 0.34%, down from 0.37% in the prior quarter[21]. - Total nonaccrual loans decreased by 6% to $106,179 thousand compared to $112,999 thousand in the previous quarter[40]. - The provision for credit losses on loans was $16,000 thousand, an 11% decrease from $18,000 thousand in the previous quarter[39]. Growth and Future Expectations - The company expects period end loan growth of 5% to 6% for 2025 compared to the year ended December 31, 2024[6]. - Total earning assets increased to $39,977,990,000 in 2025 from $37,929,019,000 in 2024, representing a growth of 5.4%[35]. - Total assets as of September 30, 2025, were $44,015,203 thousand, up from $43,420,063 thousand in the previous quarter[32].