Associated Banc-Corp Decreases Prime Rate

Associated Banc-Corp (NYSE: ASB) announced a decrease in its prime rate from 8.00% to 7.75%, effective November 8, 2024.

Rhea-AI Summary

Associated Banc-Corp (NYSE: ASB) announced a decrease in its prime rate from 8.00% to 7.75%, effective November 8, 2024. The rate change affects Associated Bank, N.A., the company's banking subsidiary.

Positive

• Prime rate reduction by 0.25% could increase lending activity and loan demand
• Lower rates may improve borrower affordability and reduce default risk

Negative

• Lower prime rate may reduce interest income and net interest margin
• Potential compression of lending profitability

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GREEN BAY, Wis., Nov. 7, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB), the holding company for Associated Bank, N.A., announced today it has decreased the bank's prime rate from 8.00% percent to 7.75% percent, effective November 8, 2024.

ABOUT ASSOCIATED BANC-CORP 
Associated Banc-Corp (NYSE: ASB) has total assets of $42 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

View original content:https://www.prnewswire.com/news-releases/associated-banc-corp-decreases-prime-rate-302299481.html

SOURCE Associated Banc-Corp

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Associated Banc-Corp's (ASB) new prime rate as of November 8, 2024?

Associated Banc-Corp's new prime rate is 7.75%, decreased from 8.00%, effective November 8, 2024.

How much did Associated Banc-Corp (ASB) reduce its prime rate in November 2024?

Associated Banc-Corp reduced its prime rate by 0.25 percentage points, from 8.00% to 7.75%.

When does Associated Banc-Corp's (ASB) new prime rate take effect?

The new prime rate of 7.75% takes effect on November 8, 2024.