Associated Banc Corp Stock Price, News & Analysis

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.

Associated Banc-Corp (NYSE: ASB) declared a quarterly cash dividend of $0.20 per common share on July 26, 2022, payable on September 15, 2022, to shareholders of record by September 1, 2022. Additionally, dividends for the Series E and Series F Perpetual Preferred Stocks were announced, amounting to $0.3671875 and $0.3515625 respectively, also payable on September 15, 2022. This highlights the company’s commitment to returning value to shareholders.

On July 21, 2022, Associated Banc-Corp (NYSE: ASB) reported a net income of $84 million ($0.56 per share) for Q2 2022, a rise from $71 million in Q1 2022 but a decline from $86 million in Q2 2021. Key highlights include a $1.2 billion increase in total commercial loans and a $766 million rise in consumer loans. Deposits also grew by $171 million to $28.6 billion. The net interest margin improved by 29 basis points to 2.71%. However, noninterest expenses rose by $8 million to $181 million.

Associated Banc-Corp has appointed Paul Schmidt as the new Twin Cities market president, a strategic move aimed at enhancing their Engage Local initiative. With $2.5 billion in deposits in Minnesota, Schmidt aims to leverage the area's robust economy for growth. Bringing nearly 40 years of banking experience, he will oversee approximately 200 colleagues across 17 locations. This initiative is part of the company's broader strategy to strengthen its local presence and respond to community needs while enhancing core lending capabilities.