Associated Banc-Corp Increases Prime Rate

Rhea-AI Summary

Associated Banc-Corp (NYSE: ASB) Raises Prime Rate to 8.5% in Response to Market Trends

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• Associated Banc-Corp (ASB) demonstrates proactive response to market conditions by increasing prime rate to 8.5%.

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• None.

GREEN BAY, Wis., July 26, 2023 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB), the holding company for Associated Bank, N.A., announced today it has increased the bank's prime rate from 8.25 percent to 8.5 percent, effective July 26, 2023.  

ABOUT ASSOCIATED BANC-CORP   
Associated Banc-Corp (NYSE: ASB) has total assets of $41 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 more than 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.

Contact: Jennifer Kaminski
Vice President | Public Relations Senior Manager
920-491-7576 | Jennifer.Kaminski@associatedbank.com

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SOURCE Associated Banc-Corp

FAQ

Why did Associated Banc-Corp raise its prime rate?

Associated Banc-Corp raised its prime rate in response to market trends and conditions.

What is the new prime rate set by Associated Banc-Corp?

The new prime rate set by Associated Banc-Corp is 8.5% effective from July 26, 2023.

How does the increase in prime rate impact customers of Associated Bank, N.A.?

The increase in prime rate impacts customers by potentially leading to higher borrowing costs.

What does the prime rate increase indicate about the economic outlook?

The prime rate increase indicates a potential tightening of monetary policy and reflects the bank's assessment of prevailing economic conditions.