Associated Banc Corp Stock Price, News & Analysis

Associated Banc-Corp (NYSE: ASB) has announced its plans to release third quarter 2024 financial results on Thursday, October 24, 2024, after market close. The company will also host a conference call for investors and analysts at 4:00 p.m. Central Time on the same day.

Interested parties can access the live webcast through the Investor Relations section of the company's website. Alternatively, they can dial into the call at 877-407-8037 (domestic) or 201-689-8037 (international). Financial tables and an accompanying slide presentation are expected to be available on the company's website prior to the call. An audio archive of the webcast will be accessible on the website approximately fifteen minutes after the call concludes.

Associated Banc-Corp (NYSE: ASB), the holding company for Associated Bank, N.A., has announced a decrease in its prime rate from 8.50% to 8.00%. This change will take effect on September 19, 2024. The prime rate is a key benchmark used by banks to set interest rates for various financial products, including loans and credit lines. This reduction in the prime rate could potentially impact the company's lending activities and overall financial performance.

Associated Banc-Corp (NYSE: ASB) has announced its participation in two major investor events in September 2024. The company's management will attend the Raymond James U.S. Bank and Banking on Tech Conferences in Chicago from September 4-5, and the Barclays Global Financial Services Conference in New York from September 9-11.

At the Barclays conference, Associated Banc-Corp will make a presentation on September 10 at 10:30 a.m. ET, which will be accessible via live webcast through the company's Investor Relations website. A replay will be available for 90 days after the presentation. Additionally, third quarter investor materials are expected to be released prior to these events and will be accessible on the company's website.

Associated Banc-Corp (NYSE: ASB) has announced its quarterly dividend payments. The Board of Directors declared a regular quarterly cash dividend of $0.22 per common share, payable on September 16, 2024, to shareholders of record as of September 3, 2024. Additionally, dividends were declared for two series of preferred stock:

1. 5.875% Series E Perpetual Preferred Stock: $0.3671875 per depositary share
2. 5.625% Series F Perpetual Preferred Stock: $0.3515625 per depositary share

Both preferred stock dividends are also payable on September 16, 2024, to shareholders of record on September 3, 2024. This announcement demonstrates Associated Banc-Corp's commitment to providing regular returns to its shareholders across different classes of stock.

Associated Banc-Corp (NYSE: ASB) reported Q2 2024 earnings of $113 million, or $0.74 per common share. Excluding a one-time tax benefit, earnings were $80 million, or $0.52 per share. Key highlights include:

- Average total loans increased 1% to $29.6 billion
- Average deposits decreased 2% to $32.6 billion
- Net interest income was $257 million
- Net interest margin decreased to 2.75%
- Noninterest income was $65 million
- Noninterest expense was $196 million
- Provision for credit losses was $23 million

The company expects 2024 total loan growth at the lower end of 4-6% range and core customer deposit growth at the lower end of 3-5% range. Net interest income growth is projected at 1-3% for 2024.

Associated Banc-Corp (NYSE: ASB) announced that Tammy C. Stadler, Executive Vice President, Corporate Controller, and Chief Accounting Officer, will retire effective July 15, 2024. Stadler will remain in a consultative role until September 1, 2024, ensuring a smooth transition. Ryan Beld, currently the Assistant Controller, will succeed Stadler. Beld joined Associated in 2020 and has prior experience as a senior financial analyst at Northwestern Mutual and as a CPA with KPMG LLP from 2012-2018. Beld will report to CFO Derek S. Meyer. CEO Andrew Harmening thanked Stadler for her 28-year contribution to Associated.

Associated Banc-Corp (NYSE: ASB) will announce its second quarter 2024 financial results on July 25, 2024, after market close. The company will host a conference call for investors and analysts at 4:00 p.m. Central Time on the same day. The live webcast of the call can be accessed through the Investor Relations section of the company's website, or by dialing 877-407-8037 (domestic) or 201-689-8037 (international) and requesting the Associated Banc-Corp earnings call. Financial tables and a slide presentation will be available on the company's website before the call, and an audio archive will be posted approximately fifteen minutes after the call concludes.

Associated Banc-Corp (NYSE: ASB) announced its 2024 Stock the Box and Day of Service initiatives. Over 2,400 employees across Wisconsin, Illinois, and Minnesota will participate in community service activities focusing on food security and youth support from May 13 to June 3. Last year, 2,114 employees donated over 6,300 volunteer hours to 210 nonprofits. This year, activities will include food packaging, distribution, and youth mentoring. The Stock the Box food drive will collect nonperishable items at all bank locations. The bank's Roots in our Community program has contributed over $18.5 million in community service value since 2012.

Associated Bank (NYSE: ASB) announced a $2 billion Community Commitment Plan (CCP) for 2024-2026. This plan focuses on empowering communities in Wisconsin, Minnesota, and Illinois through various financial services and resources. Key highlights include $1.006 billion in residential mortgages and $9 million in down payment assistance for low-to-moderate-income (LMI) and minority borrowers, $377 million in small business loans, $600 million in community development loans and investments, and $8 million in CRA-qualified grants and in-kind donations. The initiative aims to enhance affordable housing, small business growth, workforce development, sustainability, and racial/social equity, reflecting the bank's ongoing dedication to community support.