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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) announced plans to eliminate non-sufficient funds (NSF) fees and overdraft protection transfer fees starting early in Q3 2022. The changes will also include the removal of the continuous overdraft fee and a reduction in the daily limit of overdraft occurrences from 4 to 2, aiming to reduce the financial burden on customers by approximately 30%. CEO Andy Harmening emphasized the bank's commitment to transparency and customer needs in this evolving environment.
Associated Banc-Corp (NYSE: ASB) reported a first-quarter net income of $71 million, or $0.47 per share, down from $89 million a year earlier. Key highlights include a 1% increase in average loans to $24.1 billion and 1% growth in average deposits to $28.6 billion. The net interest margin improved by 2 basis points to 2.42%, while noninterest income fell by $7 million to $74 million. The bank announced plans for a 30% reduction in overdraft fees, aiming to enhance customer support.
Associated Banc-Corp (ASB) will release its first quarter 2022 financial results on April 21, 2022, after market close. The company will host a conference call for investors at 4:00 p.m. CT on the same day. Interested parties can access the call via the company's Investor Relations page or by dialing 877-407-8037. The company has total assets of $35 billion and operates over 200 banking locations across several states, including Wisconsin, Illinois, and Minnesota.
Associated Banc-Corp (NYSE: ASB) will present at the 2022 RBC Capital Markets Global Financial Institutions Conference on March 8, 2022, at 9:20 a.m. ET. The presentation will be accessible via the company's investor relations website prior to the event. With total assets of $35 billion, Associated Banc-Corp is the largest bank holding company in Wisconsin, offering extensive financial services throughout Wisconsin, Illinois, Minnesota, and several other states. Investors can expect insights into the company’s future operations and strategic goals during the conference.
The Board of Directors of Associated Banc-Corp (NYSE: ASB) has declared a $0.20 per common share quarterly cash dividend, payable on March 15, 2022, to shareholders of record by March 1, 2022. Additionally, a quarterly cash dividend of $0.3671875 per depositary share for the 5.875% Series E Perpetual Preferred Stock and $0.3515625 for the 5.625% Series F Perpetual Preferred Stock was announced, with the same payment and record dates. Associated Banc-Corp, with total assets of $35 billion, is Wisconsin's largest bank holding company.
On January 20, 2022, Associated Banc-Corp announced the upcoming retirement of its Chief Financial Officer, Christopher J. Del Moral-Niles, who has served for nearly 12 years. He will remain in his role until a successor is appointed, with the search assisted by Diversified Search Group. Del Moral-Niles has played a crucial role in the company's growth, overseeing significant capital restructuring and strategic initiatives. Under his leadership, total assets have expanded over 50%. The company, headquartered in Green Bay, Wisconsin, operates as the largest bank holding company in the state.
Associated Banc-Corp (NYSE: ASB) reported a net income of $74 million or $0.49 per share for Q4 2021, an increase from $62 million in Q4 2020 but a decrease from $85 million in Q3 2021. For the full year, earnings rose to $334 million or $2.18 per share compared to $288 million in 2020. Despite a decrease in average loans and net interest income, deposits grew by $1.7 billion, indicating a strong liquidity position.
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