Welcome to our dedicated page for Associated Banc-Corp news (Ticker: ASB), a resource for investors and traders seeking the latest updates and insights on Associated Banc-Corp stock.
Associated Banc-Corp (NYSE: ASB) is a prominent bank holding company headquartered in Green Bay, Wisconsin. With total assets of $41 billion, it stands as the largest bank holding company based in Wisconsin and is recognized as one of the top 50 publicly traded U.S. bank holding companies. The company operates a robust Midwest banking franchise with over 200 banking locations that serve more than 100 communities throughout Wisconsin, Illinois, and Minnesota. Additionally, Associated Banc-Corp extends commercial financial services to Indiana, Michigan, Missouri, Ohio, and Texas through its loan production offices.
Associated Banc-Corp offers a comprehensive suite of financial products and services, catering to both individual and business needs. Its core business segments include Corporate and Commercial Specialty, Community, Consumer, and Business, and Risk Management and Shared Services. The company’s extensive range of services encompasses retail banking, commercial banking, mortgage banking, private banking, and wealth management solutions. Its flagship subsidiary, Associated Bank, N.A., is a member of the FDIC and is an Equal Housing Lender and Equal Opportunity Lender.
In recent developments, Associated Banc-Corp continues to expand and enhance its services under a people-led, digitally enabled strategic plan. This plan involves significant investments in technology, personnel, and product offerings to foster growth and improve customer experience. Notably, the company has strengthened its leadership team with strategic appointments, such as Phillip Trier as Executive Vice President of Commercial Banking Group and Steven Zandpour as Director of Retail Banking. These appointments are set to drive business development and service excellence across major metropolitan markets.
The company recently reported its financial results for the first quarter of 2024, showcasing a net income of $78 million, or $0.52 per common share. This performance reflects the company’s solid strategic execution, with stable loan and deposit growth and a strong capital position. Associated Banc-Corp's commitment to community service is exemplified by initiatives like the annual Day of Service and Stock the Box food drive, which mobilize thousands of employees to support local communities.
More information about Associated Banc-Corp is available at www.associatedbank.com.
Associated Banc-Corp (NYSE: ASB) has announced its participation in two major investor events in September 2024. The company's management will attend the Raymond James U.S. Bank and Banking on Tech Conferences in Chicago from September 4-5, and the Barclays Global Financial Services Conference in New York from September 9-11.
At the Barclays conference, Associated Banc-Corp will make a presentation on September 10 at 10:30 a.m. ET, which will be accessible via live webcast through the company's Investor Relations website. A replay will be available for 90 days after the presentation. Additionally, third quarter investor materials are expected to be released prior to these events and will be accessible on the company's website.
Associated Banc-Corp (NYSE: ASB) has announced its quarterly dividend payments. The Board of Directors declared a regular quarterly cash dividend of $0.22 per common share, payable on September 16, 2024, to shareholders of record as of September 3, 2024. Additionally, dividends were declared for two series of preferred stock:
1. 5.875% Series E Perpetual Preferred Stock: $0.3671875 per depositary share
2. 5.625% Series F Perpetual Preferred Stock: $0.3515625 per depositary share
Both preferred stock dividends are also payable on September 16, 2024, to shareholders of record on September 3, 2024. This announcement demonstrates Associated Banc-Corp's commitment to providing regular returns to its shareholders across different classes of stock.
Associated Banc-Corp (NYSE: ASB) reported Q2 2024 earnings of $113 million, or $0.74 per common share. Excluding a one-time tax benefit, earnings were $80 million, or $0.52 per share. Key highlights include:
- Average total loans increased 1% to $29.6 billion
- Average deposits decreased 2% to $32.6 billion
- Net interest income was $257 million
- Net interest margin decreased to 2.75%
- Noninterest income was $65 million
- Noninterest expense was $196 million
- Provision for credit losses was $23 million
The company expects 2024 total loan growth at the lower end of 4-6% range and core customer deposit growth at the lower end of 3-5% range. Net interest income growth is projected at 1-3% for 2024.
Associated Banc-Corp (NYSE: ASB) announced that Tammy C. Stadler, Executive Vice President, Corporate Controller, and Chief Accounting Officer, will retire effective July 15, 2024. Stadler will remain in a consultative role until September 1, 2024, ensuring a smooth transition. Ryan Beld, currently the Assistant Controller, will succeed Stadler. Beld joined Associated in 2020 and has prior experience as a senior financial analyst at Northwestern Mutual and as a CPA with KPMG LLP from 2012-2018. Beld will report to CFO Derek S. Meyer. CEO Andrew Harmening thanked Stadler for her 28-year contribution to Associated.
Associated Banc-Corp (NYSE: ASB) will announce its second quarter 2024 financial results on July 25, 2024, 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. The live webcast of the call can be accessed through the Investor Relations section of the company's website, or by dialing 877-407-8037 (domestic) or 201-689-8037 (international) and requesting the Associated Banc-Corp earnings call. Financial tables and a slide presentation will be available on the company's website before the call, and an audio archive will be posted approximately fifteen minutes after the call concludes.
Associated Banc-Corp (NYSE: ASB) announced its 2024 Stock the Box and Day of Service initiatives. Over 2,400 employees across Wisconsin, Illinois, and Minnesota will participate in community service activities focusing on food security and youth support from May 13 to June 3. Last year, 2,114 employees donated over 6,300 volunteer hours to 210 nonprofits. This year, activities will include food packaging, distribution, and youth mentoring. The Stock the Box food drive will collect nonperishable items at all bank locations. The bank's Roots in our Community program has contributed over $18.5 million in community service value since 2012.
Associated Bank (NYSE: ASB) announced a $2 billion Community Commitment Plan (CCP) for 2024-2026. This plan focuses on empowering communities in Wisconsin, Minnesota, and Illinois through various financial services and resources. Key highlights include $1.006 billion in residential mortgages and $9 million in down payment assistance for low-to-moderate-income (LMI) and minority borrowers, $377 million in small business loans, $600 million in community development loans and investments, and $8 million in CRA-qualified grants and in-kind donations. The initiative aims to enhance affordable housing, small business growth, workforce development, sustainability, and racial/social equity, reflecting the bank's ongoing dedication to community support.
Associated Banc-Corp (NYSE: ASB) has appointed Chun Schiros as the new senior vice president and chief analytics officer, focusing on leveraging data to enhance customer relationships across all business lines. Schiros brings expertise in analytics, predictive models, machine learning, and AI from her previous role at Regions Bank, aligning with Associated Bank's strategic plan to improve customer experience through data-driven strategies.
Associated Banc-Corp (ASB) will attend three investor events in the second quarter of 2024, including Stephens Inc. Chicago Bank Trip, RBC Capital Markets Virtual Mid-Cap Bank Fixed Income Investor Conference, and Raymond James Chicago Bank Tour. Investor materials will be accessible on the company's website before the events.
Associated Banc-Corp (ASB) announced the election of directors, approval of executive compensation, and selection of an accounting firm at its 2024 Annual Meeting of Shareholders. The company also declared regular quarterly cash dividends for common shares and preferred stocks.
FAQ
What is the current stock price of Associated Banc-Corp (ASB)?
What is the market cap of Associated Banc-Corp (ASB)?
What is the total asset value of Associated Banc-Corp?
Where is Associated Banc-Corp headquartered?
What services does Associated Banc-Corp offer?
What recent leadership appointments have been made at Associated Banc-Corp?
What are the core business segments of Associated Banc-Corp?
How many banking locations does Associated Banc-Corp operate?
What community initiatives does Associated Banc-Corp support?
What is the strategic plan of Associated Banc-Corp?
How did Associated Banc-Corp perform in the first quarter of 2024?
Is Associated Banc-Corp a member of the FDIC?
