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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.
On April 25, 2023, Associated Banc-Corp (NYSE: ASB) announced its participation in three investor events during the second quarter of 2023. The events include:
- RBC Capital Markets 2023 US Banks Fixed Income Investor Symposium on May 3, 2023, in Boston, MA, with a virtual session on May 4.
- Stephens Inc. Chicago Bank Trip on May 11, 2023, in Chicago, IL.
- Wells Fargo Financial Services Investor Conference from May 16-17, 2023, also in Chicago, IL.
Investor materials for the second quarter will be available on the Associated Banc-Corp website prior to the events. The company holds $41 billion in total assets and operates over 200 banking locations across multiple states.
On April 25, 2023, Associated Banc-Corp (NYSE: ASB) held its Annual Meeting of Shareholders, where several key outcomes were announced. The company reported the re-election of directors, including John (Jay) B. Williams and Andrew J. Harmening. Shareholders also approved the compensation for named executives and ratified KPMG LLP as the independent accounting firm for 2023.
Additionally, the Board declared a quarterly cash dividend of
Associated Banc-Corp manages total assets of approximately
Associated Banc-Corp (NYSE: ASB) reported a net income of
Associated Banc-Corp (NYSE: ASB) will release its first quarter 2023 financial results on April 20, 2023, after market close. The company will hold a conference call for investors and analysts at 4:00 p.m. CT on the same day. The call can be accessed through the company's Investor Relations website or via phone. Associated Banc-Corp, headquartered in Green Bay, Wisconsin, has total assets of $39 billion and operates over 200 banking locations across the Midwest. The company emphasizes its commitment to transparency with financial tables and presentations available prior to the call.
On February 1, 2023, Associated Banc-Corp (NYSE: ASB) announced upcoming investor meetings at various conferences. Key executives, including Andy Harmening and Derek Meyer, will present at the BofA Securities Financial Services Conference on February 14, 2023, at 3:20 p.m. ET, and will also participate in the KBW Winter Financial Services Conference on February 16-17, 2023. Additionally, they will present at the RBC Capital Markets Financial Institutions Conference on March 8, 2023. Live webcasts and replays of these presentations will be available on the company's website.
On February 1, 2023, the Board of Directors of Associated Banc-Corp (ASB) declared a quarterly cash dividend of
Associated Banc-Corp (NYSE: ASB) reported a strong financial performance for Q4 and full year 2022. Net income for Q4 was $106 million ($0.70 per share), up from $74 million ($0.49) in Q4 2021. For the year, total earnings reached $355 million ($2.34 per share), a $21 million increase over 2021. Key metrics include a 32% rise in net interest income to $957 million and total loans increasing by $4.6 billion to $28.8 billion. However, noninterest income fell by $50 million to $282 million. The company anticipates loan growth of 7%-9% and net interest income growth of 15%-17% in 2023.
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