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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.
Associated Banc-Corp (NYSE: ASB) is set to release its fourth quarter 2022 financial results on January 26, 2023, after market close. A conference call for investors and analysts will be held at 4:00 p.m. CT on the same day. The results can be accessed via the Company's website or through a dedicated phone line. Associated Banc-Corp has total assets of $38 billion, making it the largest bank holding company based in Wisconsin.
Associated Banc-Corp (NYSE: ASB) announced the appointment of Terry L. Williams as the new Chief Information Officer, effective January 17, 2023. Williams brings over 30 years of experience in strategic information technology, previously serving as CIO and CTO at Belcan, LLC. He is expected to enhance Associated's digital transformation strategy, aligning technology with business growth. The company maintains total assets of $38 billion and operates over 200 banking locations across three states.
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.
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