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About Associated Banc-Corp (NYSE: ASB)
Headquartered in Green Bay, Wisconsin, Associated Banc-Corp is a prominent Midwest bank holding company and one of the top 50 publicly traded financial institutions in the United States. With a history rooted in community banking, the company operates nearly 200 banking locations across Wisconsin, Illinois, and Minnesota, while also maintaining a presence in Indiana, Michigan, Missouri, New York, Ohio, and Texas through its loan production offices. Associated Banc-Corp is the largest bank holding company based in Wisconsin, reflecting its deep ties to the region and its commitment to serving local communities.
Core Business Segments
Associated Banc-Corp operates through three primary business segments:
- Corporate and Commercial Specialty: This segment focuses on providing tailored financial services to corporate clients, including commercial lending, treasury management, and specialized industry solutions.
- Community, Consumer, and Business: This segment serves individual and small business customers, offering a broad range of products such as personal banking, mortgages, small business loans, and wealth management services.
- Risk Management and Shared Services: This segment supports the company’s operations through risk management, compliance, and shared service functions, ensuring operational efficiency and regulatory adherence.
Revenue Model and Financial Services
The company generates the majority of its revenue through interest income derived from loans and deposits, supplemented by noninterest income from services such as wealth management, treasury operations, and fees. Its diversified portfolio includes commercial loans, residential mortgages, and consumer lending products, catering to a wide range of customer needs.
Strategic Initiatives
Associated Banc-Corp has demonstrated a commitment to strategic growth and operational efficiency. Recent initiatives include balance sheet repositioning to optimize capital allocation, investments in digital banking platforms to enhance customer experience, and a focus on expanding its commercial banking team to deepen market penetration. These efforts align with the company’s vision of becoming the most admired Midwestern financial services provider, distinguished by value-added solutions and exceptional customer service.
Market Position and Competitive Landscape
Operating in a competitive Midwest banking sector, Associated Banc-Corp differentiates itself through its regional focus, comprehensive service offerings, and emphasis on customer satisfaction. It faces competition from both regional banks and larger national institutions. However, its strong community ties, industry-leading customer satisfaction scores, and strategic investments position it as a resilient player in the financial services industry.
Commitment to Community and Sustainability
Associated Banc-Corp is deeply committed to community engagement and sustainable practices. The company actively supports local economic development, affordable housing initiatives, and financial literacy programs. As an Equal Housing Lender and Equal Opportunity Lender, it prioritizes inclusivity and accessibility in its services.
Conclusion
With a robust regional presence, diversified business model, and strategic focus on growth and customer satisfaction, Associated Banc-Corp is a key player in the Midwest banking landscape. Its commitment to operational excellence, digital innovation, and community engagement underscores its long-term value proposition for customers and stakeholders alike.
The Board of Directors of Associated Banc-Corp (ASB) declared a quarterly cash dividend of $0.21 per common share, an increase of $0.01 from the prior dividend of $0.20. This dividend is payable on December 15, 2022, to shareholders on record by December 1, 2022. Additionally, dividends for preferred stock series are $0.3671875 for Series E and $0.3515625 for Series F, payable on the same date.
Associated Banc-Corp (NYSE: ASB) will participate in the Piper Sandler East Coast Financial Services Conference on November 8-9, 2022, in Palm Beach, FL. CEO Andy Harmening and CFO Derek Meyer will engage with investors during this event. Fourth quarter investor materials will be accessible before the conference on the company’s website, offering insights into their financial performance. Associated Banc-Corp, headquartered in Green Bay, Wisconsin, has assets totaling $38 billion and operates over 200 locations across the Midwest.
Associated Banc-Corp (NYSE: ASB) reported a net income of $93 million, or $0.62 per share for Q3 2022, reflecting a rise from $84 million in Q2 2022. The company experienced growth in both loans and deposits, with total commercial loans increasing by $720 million to $17.5 billion. Additionally, the net interest margin improved by 42 basis points to 3.13%. However, noninterest income decreased to $71 million, down $5 million from the previous quarter. Associated continues to maintain a strong capital position with a CET1 ratio of 9.4%.
Associated Banc-Corp has announced the promotion of Andrew Arnold to executive vice president and corporate treasurer, effective immediately. Arnold brings nearly 25 years of finance experience, including previous roles at Associated since 2010, culminating in his most recent position as interim corporate treasurer. He will oversee the bank's interest rate risk management, liquidity, funding, and investment portfolio. Associated Banc-Corp, headquartered in Green Bay, Wisconsin, boasts total assets of $37 billion and operates over 200 banking locations across the Midwest.
Associated Banc-Corp (NYSE: ASB) will release its third quarter 2022 financial results on October 20, 2022, after market close. A conference call for investors and analysts is scheduled for 4:00 p.m. CT on the same day. The call can be accessed via the Company’s website or by dialing in at 877-407-8037 (domestic) or 201-689-8037 (international). Associated Banc-Corp has total assets of $37 billion and operates over 200 locations across the Midwest. Additional financial information will be available on their website prior to the call.
Associated Banc-Corp (NYSE: ASB) has announced participation in upcoming investor conferences, including the Raymond James U.S. Bank and Banking on Tech Conferences in Chicago on September 7-8, 2022, and the Barclays Global Financial Services Conference in New York from September 12-14, 2022. CEO Andy Harmening and CFO Derek Meyer will present on September 14 at 10:30 a.m. ET. Investors can access a live webcast of the presentation through the company's Investor Relations website. Third quarter materials will also be available prior to the events.
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