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Associated Banc-Corp Decreases Prime Rate

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Associated Banc-Corp (NYSE: ASB) announced a decrease in its prime rate from 8.00% to 7.75%, effective November 8, 2024. The rate change affects Associated Bank, N.A., the company's banking subsidiary.

Associated Banc-Corp (NYSE: ASB) ha annunciato una riduzione del suo tasso principale dal 8.00% al 7.75%, con effetto dall'8 novembre 2024. La modifica del tasso riguarda Associated Bank, N.A., la sussidiaria bancaria della società.

Associated Banc-Corp (NYSE: ASB) anunció una disminución de su tasa de interés principal del 8.00% al 7.75%, que entrará en vigor el 8 de noviembre de 2024. El cambio de tasa afecta a Associated Bank, N.A., la subsidiaria bancaria de la compañía.

어소시에이티드 뱅크-코프 (NYSE: ASB)는 2024년 11월 8일부터 기본 금리를 8.00%에서 7.75%로 인하한다고 발표했습니다. 금리 변화는 회사의 은행 자회사인 어소시에이티드 뱅크(N.A.)에 영향을 미칩니다.

Associated Banc-Corp (NYSE: ASB) a annoncé une baisse de son taux d'intérêt principal de 8,00% à 7,75%, en vigueur à compter du 8 novembre 2024. Ce changement de taux concerne Associated Bank, N.A., la filiale bancaire de la société.

Associated Banc-Corp (NYSE: ASB) gab bekannt, dass der Leitzins von 8,00% auf 7,75% gesenkt wird, wirksam ab dem 8. November 2024. Die Änderung des Zinssatzes betrifft die Associated Bank, N.A., die Banktochter des Unternehmens.

Positive
  • Prime rate reduction by 0.25% could increase lending activity and loan demand
  • Lower rates may improve borrower affordability and reduce default risk
Negative
  • Lower prime rate may reduce interest income and net interest margin
  • Potential compression of lending profitability

Insights

This prime rate reduction by Associated Banc-Corp follows the Federal Reserve's decision to lower interest rates, marking a significant shift in the banking landscape. The 0.25% decrease will directly impact the bank's lending operations and net interest margin (NIM). For ASB, which has a substantial lending portfolio, this rate cut could potentially compress interest income in the short term. However, it may stimulate loan demand as borrowing becomes more affordable for consumers and businesses. The bank's diverse revenue streams and strong deposit base should help buffer any immediate margin pressure. The timing aligns with broader market expectations of monetary policy easing, suggesting a strategic move to maintain competitive positioning in the regional banking sector.

GREEN BAY, Wis., Nov. 7, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB), the holding company for Associated Bank, N.A., announced today it has decreased the bank's prime rate from 8.00% percent to 7.75% percent, effective November 8, 2024.

ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $42 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

Cision View original content:https://www.prnewswire.com/news-releases/associated-banc-corp-decreases-prime-rate-302299481.html

SOURCE Associated Banc-Corp

FAQ

What is Associated Banc-Corp's (ASB) new prime rate as of November 8, 2024?

Associated Banc-Corp's new prime rate is 7.75%, decreased from 8.00%, effective November 8, 2024.

How much did Associated Banc-Corp (ASB) reduce its prime rate in November 2024?

Associated Banc-Corp reduced its prime rate by 0.25 percentage points, from 8.00% to 7.75%.

When does Associated Banc-Corp's (ASB) new prime rate take effect?

The new prime rate of 7.75% takes effect on November 8, 2024.

Associated Banc-Corp

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