Welcome to our dedicated page for Associated Banc news (Ticker: ASB), a resource for investors and traders seeking the latest updates and insights on Associated Banc stock.
Overview of Associated Banc-Corp (NYSE: ASB)
Associated Banc-Corp is a prominent bank holding company in the Midwest, renowned for its comprehensive suite of financial services and its strong operational footprint across the region. As a key player in the banking and commercial lending space, the company provides both banking and nonbanking products with an unwavering commitment to delivering personalized service and robust financial solutions. With a network of nearly 200 banking locations spanning Wisconsin, Illinois, Minnesota, and extended operations in several other states, Associated Banc-Corp successfully serves a diverse customer base comprising individuals, small to mid-size businesses, and commercial enterprises.
Core Business Segments and Operations
Operating through its subsidiaries, the company is organized into three distinct reportable segments that underline its diverse revenue model and operational depth:
- Corporate and Commercial Specialty: This segment focuses on sophisticated financial products tailored for businesses and commercial clients. It leverages expertise in commercial lending, treasury management, and specialized financing solutions to cater to the evolving needs of corporate customers.
- Community, Consumer, and Business: Catering to a broad spectrum of retail and small business customers, this segment offers a complete range of consumer products, including deposit accounts, personal loans, mortgages, and other essential banking services. Its extensive branch network ensures localized service and strong community ties.
- Risk Management and Shared Services: Providing the operational backbone for the organization, this segment ensures that risk is effectively managed across all business units while delivering critical back-office support and shared services that drive efficiency and maintain regulatory compliance.
Associated Banc-Corp (NYSE: ASB) has scheduled its first quarter 2025 earnings release and conference call for Thursday, April 24, 2025. The financial results will be released after market close, followed by a conference call at 4:00 p.m. Central Time.
Investors and analysts can participate through the company's website investor relations section or by dialing 877-407-8037 (domestic) or 201-689-8037 (international). Financial tables and presentation slides will be available on the website before the call, and an audio archive will be accessible approximately fifteen minutes after the call concludes.
Associated Banc-Corp (NYSE: ASB) has completed Phase 2 of its commercial expansion by adding three experienced bankers to its Kansas City team. Matt Flynn, Alexander Burke, and Mitchell Hind joined on March 21, 2025, all transitioning from U.S. Bank.
The expansion is part of Associated's strategic growth initiative in the Midwest, with Flynn overseeing expansion into Kansas, Oklahoma, and Texas, while leading the new Short Line Rail Industry Vertical. The bank has increased its relationship managers by over 25% across established and emerging markets, enhancing capabilities in treasury management, capital markets, and corporate banking services.
This strategic move demonstrates Associated's commitment to organic growth, strengthening its commercial leadership and refining its relationship-driven approach in the region.
Associated Banc-Corp (NYSE: ASB) has announced its participation in three major investor events during the first quarter of 2025. The company will attend the BofA Securities 2025 Financial Services Conference in Miami (February 11-12), the KBW Winter Financial Services Conference in Boca Raton (February 12-14), and the RBC Capital Markets Global Financial Institutions Conference in New York (March 4-5).
Management will deliver a presentation at the RBC Capital Markets conference on March 5, 2025, at 2:00 p.m. ET. Investors can access a live webcast through the company's Investor Relations website, with replay available for 365 days post-presentation. First quarter investor materials will be published on the company's website before these events.
Associated Banc-Corp (NYSE: ASB) has announced its quarterly dividend declarations. The company's Board of Directors declared a regular quarterly cash dividend of $0.23 per common share, payable on March 17, 2025, to shareholders of record as of March 3, 2025.
Additionally, the Board declared dividends on two preferred stock series: a quarterly cash dividend of $0.3671875 per depositary share on the 5.875% Series E Perpetual Preferred Stock and a quarterly cash dividend of $0.3515625 per depositary share on the 5.625% Series F Perpetual Preferred Stock. Both preferred stock dividends share the same payment and record dates as the common share dividend.
Associated Banc-Corp (NYSE: ASB) reported full-year 2024 earnings of $112 million, or $0.72 per common share, compared to $171 million ($1.13 per share) in 2023. The company posted a Q4 2024 loss of $164 million (-$1.03 per share), impacted by several nonrecurring items from balance sheet repositioning.
Key Q4 2024 nonrecurring items included a $130 million loss on mortgage portfolio sale, $148 million net loss on investment sales, and $14 million loss on FHLB advances prepayments. Excluding these items, adjusted earnings were $367 million ($2.38 per share) for 2024.
Notable 2024 performance metrics include:
- Total deposit growth of $1.2 billion
- Total loan growth of $552 million
- Net interest income of $1.0 billion
- Net charge offs/average loans of 0.23%
For 2025, ASB expects 5-6% loan growth, 1-2% total deposit growth, and 12-13% net interest income growth.
Associated Banc-Corp (NYSE: ASB) has announced its plans to release fourth quarter 2024 financial results on Thursday, January 23, 2025, after market close. The company will host a conference call for investors and analysts at 4:00 p.m. Central Time on the same day.
Investors can access the live webcast through the company's Investor Relations website or dial in at 877-407-8037 (domestic) or 201-689-8037 (international). Financial tables and presentation slides will be available on the website before the call, and an audio archive will be accessible approximately fifteen minutes after the call concludes.
Associated Banc-Corp (NYSE: ASB) has announced the addition of four senior relationship managers to strengthen its commercial banking team. This hiring initiative is part of the company's multi-year strategic growth plan aimed at expanding commercial capabilities and deepening client relationships across the Midwest. The new hires include: Stacy Quick (Minnesota market), bringing 20+ years of experience from US Bank; Kevin Kopaska (Iowa market) with 25+ years of experience from Wells Fargo; Mike Hauswirth (Minnesota market) with 30+ years of experience from US Bank; and Scott Rothenbush (Specialty Deposit and Payment Solutions) with 30+ years of banking experience from US Bank.
Associated Banc-Corp (NYSE: ASB) announced a decrease in its prime rate from 7.75% to 7.50%, effective December 19, 2024. This adjustment affects Associated Bank, N.A., the company's banking subsidiary.
Associated Banc-Corp (NYSE: ASB) has announced the appointment of Steven Zandpour to its Executive Leadership Team, effective January 1, 2025. Zandpour, 48, will serve as executive vice president and deputy head of Consumer and Business Banking, reporting to David Stein. He joined Associated Bank in January 2024, focusing on consumer and small business growth across major metropolitan markets.
In his expanded role, Zandpour will be responsible for all revenue growth in the Consumer and Business Banking division, including Consumer Lending. Prior to Associated, he served as U.S. head of Specialty Sales at BMO in Chicago and spent 14 years at Fifth Third Bank in Illinois. Zandpour holds an MBA from Notre Dame and a BS in economics from the University of Iowa.
Associated Banc-Corp (NYSE: ASB) has announced the appointment of Heath Sorenson as Executive Vice President and Managing Director of Associated Trust Company. Effective February 1, 2025, Sorenson will assume the role of CEO, succeeding John Thayer, who will transition to Executive Vice President and Senior Leadership Advisor. Sorenson brings over 25 years of wealth management experience and will lead Personal, Corporate and Institutional Trust Services, Investment Management, Retirement Plan Solutions, and Trust Administration/Operations.
The transition follows Thayer's nearly 25-year tenure, during which he unified the bank's wealth management operations and led a team of over 300 professionals to generate nearly $150M in revenue within three years. Sorenson, who joined on December 9, will report to Jayne Hladio, Executive Vice President and Associated Private Wealth President.
FAQ
What is the current stock price of Associated Banc (ASB)?
What is the market cap of Associated Banc (ASB)?
What are the primary business segments of Associated Banc-Corp?
How does Associated Banc-Corp generate its revenue?
What distinguishes Associated Banc-Corp in the Midwest banking market?
What types of financial services does the company offer?
How does the company maintain robust risk management across its operations?
What is the geographic scope of Associated Banc-Corp’s operations?
How does Associated Banc-Corp enhance customer service?
What type of customers does Associated Banc-Corp serve?
