![]() | NEWS RELEASE Investor Contact: Ben McCarville, Vice President, Director of Investor Relations 920-491-7059 Media Contact: Jennifer Kaminski, Vice President, Public Relations Senior Manager 920-491-7576 | ||||
| Associated Banc-Corp Consolidated Balance Sheets (Unaudited) | |||||||||||||||||||||||
| ($ in thousands) | December 31, 2023 | September 30, 2023 | Seql Qtr $ Change | June 30, 2023 | March 31, 2023 | December 31, 2022 | Comp Qtr $ Change | ||||||||||||||||
| Assets | |||||||||||||||||||||||
| Cash and due from banks | $ | 484,384 | $ | 388,694 | $ | 95,690 | $ | 407,620 | $ | 311,269 | $ | 436,952 | $ | 47,432 | |||||||||
| Interest-bearing deposits in other financial institutions | 425,089 | 323,130 | 101,959 | 190,881 | 511,116 | 156,693 | 268,396 | ||||||||||||||||
| Federal funds sold and securities purchased under agreements to resell | 14,350 | 965 | 13,385 | 31,160 | 455 | 27,810 | (13,460) | ||||||||||||||||
| Investment securities available for sale, at fair value | 3,600,892 | 3,491,679 | 109,213 | 3,504,777 | 3,381,607 | 2,742,025 | 858,867 | ||||||||||||||||
| Investment securities held to maturity, net, at amortized cost | 3,860,160 | 3,900,415 | (40,255) | 3,938,877 | 3,967,058 | 3,960,398 | (100,238) | ||||||||||||||||
| Equity securities | 41,651 | 35,937 | 5,714 | 30,883 | 30,514 | 25,216 | 16,435 | ||||||||||||||||
| Federal Home Loan Bank and Federal Reserve Bank stocks, at cost | 229,171 | 268,698 | (39,527) | 271,637 | 331,420 | 295,496 | (66,325) | ||||||||||||||||
| Residential loans held for sale | 33,011 | 54,790 | (21,779) | 38,083 | 35,742 | 20,383 | 12,628 | ||||||||||||||||
| Commercial loans held for sale | 90,303 | — | 90,303 | 15,000 | 33,490 | — | 90,303 | ||||||||||||||||
| Loans | 29,216,218 | 30,193,187 | (976,969) | 29,848,904 | 29,207,072 | 28,799,569 | 416,649 | ||||||||||||||||
| Allowance for loan losses | (351,094) | (345,795) | (5,299) | (338,750) | (326,432) | (312,720) | (38,374) | ||||||||||||||||
| Loans, net | 28,865,124 | 29,847,392 | (982,268) | 29,510,153 | 28,880,640 | 28,486,849 | 378,275 | ||||||||||||||||
| Tax credit and other investments | 258,067 | 256,905 | 1,162 | 263,583 | 269,269 | 276,773 | (18,706) | ||||||||||||||||
| Premises and equipment, net | 372,978 | 373,017 | (39) | 374,866 | 375,540 | 376,906 | (3,928) | ||||||||||||||||
| Bank and corporate owned life insurance | 682,649 | 679,775 | 2,874 | 678,578 | 677,328 | 676,530 | 6,119 | ||||||||||||||||
| Goodwill | 1,104,992 | 1,104,992 | — | 1,104,992 | 1,104,992 | 1,104,992 | — | ||||||||||||||||
| Other intangible assets, net | 40,471 | 42,674 | (2,203) | 44,877 | 47,079 | 49,282 | (8,811) | ||||||||||||||||
| Mortgage servicing rights, net | 84,390 | 89,131 | (4,741) | 80,449 | 74,479 | 77,351 | 7,039 | ||||||||||||||||
| Interest receivable | 169,569 | 171,119 | (1,550) | 159,185 | 152,404 | 144,449 | 25,120 | ||||||||||||||||
| Other assets | 658,604 | 608,068 | 50,536 | 573,870 | 518,115 | 547,621 | 110,983 | ||||||||||||||||
| Total assets | $ | 41,015,855 | $ | 41,637,381 | $ | (621,526) | $ | 41,219,473 | $ | 40,702,519 | $ | 39,405,727 | $ | 1,610,128 | |||||||||
| Liabilities and stockholders’ equity | |||||||||||||||||||||||
| Noninterest-bearing demand deposits | $ | 6,119,956 | $ | 6,422,994 | $ | (303,038) | $ | 6,565,666 | $ | 7,328,689 | $ | 7,760,811 | $ | (1,640,855) | |||||||||
| Interest-bearing deposits | 27,326,093 | 25,700,332 | 1,625,761 | 25,448,743 | 23,003,134 | 21,875,343 | 5,450,750 | ||||||||||||||||
| Total deposits | 33,446,049 | 32,123,326 | 1,322,723 | 32,014,409 | 30,331,824 | 29,636,154 | 3,809,895 | ||||||||||||||||
| Federal funds purchased and securities sold under agreements to repurchase | 326,780 | 451,644 | (124,864) | 325,927 | 208,398 | 585,139 | (258,359) | ||||||||||||||||
| Commercial paper | — | — | — | 15,327 | 18,210 | 20,798 | (20,798) | ||||||||||||||||
| FHLB advances | 1,940,194 | 3,733,041 | (1,792,847) | 3,630,747 | 4,986,138 | 4,319,861 | (2,379,667) | ||||||||||||||||
| Other long-term funding | 541,269 | 529,459 | 11,810 | 534,273 | 544,103 | 248,071 | 293,198 | ||||||||||||||||
| Allowance for unfunded commitments | 34,776 | 34,776 | — | 38,276 | 39,776 | 38,776 | (4,000) | ||||||||||||||||
| Accrued expenses and other liabilities | 552,814 | 637,491 | (84,677) | 537,640 | 448,407 | 541,438 | 11,376 | ||||||||||||||||
| Total liabilities | 36,841,882 | 37,509,738 | (667,856) | 37,096,599 | 36,576,856 | 35,390,237 | 1,451,645 | ||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||
| Preferred equity | 194,112 | 194,112 | — | 194,112 | 194,112 | 194,112 | — | ||||||||||||||||
| Common equity | 3,979,861 | 3,933,531 | 46,330 | 3,928,762 | 3,931,551 | 3,821,378 | 158,483 | ||||||||||||||||
| Total stockholders’ equity | 4,173,973 | 4,127,643 | 46,330 | 4,122,874 | 4,125,663 | 4,015,490 | 158,483 | ||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 41,015,855 | $ | 41,637,381 | $ | (621,526) | $ | 41,219,473 | $ | 40,702,519 | $ | 39,405,727 | $ | 1,610,128 | |||||||||
| Associated Banc-Corp Consolidated Statements of Income (Unaudited) | Comp Qtr | YTD | YTD | Comp YTD | ||||||||||||||||||||||
| ($ in thousands, except per share data) | 4Q23 | 4Q22 | $ Change | % Change | Dec 2023 | Dec 2022 | $ Change | % Change | ||||||||||||||||||
| Interest income | ||||||||||||||||||||||||||
| Interest and fees on loans | $ | 457,868 | $ | 349,403 | $ | 108,465 | 31 | % | $ | 1,720,406 | $ | 992,642 | $ | 727,764 | 73 | % | ||||||||||
| Interest and dividends on investment securities | ||||||||||||||||||||||||||
| Taxable | 41,809 | 21,435 | 20,374 | 95 | % | 146,006 | 75,444 | 70,562 | 94 | % | ||||||||||||||||
| Tax-exempt | 15,273 | 16,666 | (1,393) | (8) | % | 63,233 | 65,691 | (2,458) | (4) | % | ||||||||||||||||
| Other interest | 10,418 | 3,779 | 6,639 | 176 | % | 28,408 | 11,475 | 16,933 | 148 | % | ||||||||||||||||
| Total interest income | 525,367 | 391,283 | 134,084 | 34 | % | 1,958,052 | 1,145,252 | 812,800 | 71 | % | ||||||||||||||||
| Interest expense | ||||||||||||||||||||||||||
| Interest on deposits | 208,875 | 60,719 | 148,156 | N/M | 673,624 | 98,309 | 575,315 | N/M | ||||||||||||||||||
| Interest on federal funds purchased and securities sold under agreements to repurchase | 3,734 | 2,280 | 1,454 | 64 | % | 12,238 | 3,480 | 8,758 | N/M | |||||||||||||||||
| Interest on other short-term funding | — | — | — | N/M | 1 | 2 | (1) | (50) | % | |||||||||||||||||
| Interest on FHLB Advances | 49,171 | 36,824 | 12,347 | 34 | % | 196,535 | 75,487 | 121,048 | 160 | % | ||||||||||||||||
| Interest on long-term funding | 10,185 | 2,470 | 7,715 | N/M | 36,080 | 10,653 | 25,427 | N/M | ||||||||||||||||||
| Total interest expense | 271,965 | 102,294 | 169,671 | 166 | % | 918,479 | 187,931 | 730,548 | N/M | |||||||||||||||||
| Net interest income | 253,403 | 288,989 | (35,586) | (12) | % | 1,039,573 | 957,321 | 82,252 | 9 | % | ||||||||||||||||
| Provision for credit losses | 21,007 | 19,992 | 1,015 | 5 | % | 83,021 | 32,998 | 50,023 | 152 | % | ||||||||||||||||
| Net interest income after provision for credit losses | 232,395 | 268,997 | (36,602) | (14) | % | 956,552 | 924,323 | 32,229 | 3 | % | ||||||||||||||||
| Noninterest income | ||||||||||||||||||||||||||
| Wealth management fees | 21,003 | 20,403 | 600 | 3 | % | 82,502 | 84,122 | (1,620) | (2) | % | ||||||||||||||||
| Service charges and deposit account fees | 10,815 | 13,918 | (3,103) | (22) | % | 49,045 | 62,310 | (13,265) | (21) | % | ||||||||||||||||
| Card-based fees | 11,528 | 11,167 | 361 | 3 | % | 45,020 | 44,014 | 1,006 | 2 | % | ||||||||||||||||
| Other fee-based revenue | 4,019 | 3,290 | 729 | 22 | % | 17,268 | 15,903 | 1,365 | 9 | % | ||||||||||||||||
Capital markets, net | 9,106 | 5,586 | 3,520 | 63 | % | 24,649 | 29,917 | (5,268) | (18) | % | ||||||||||||||||
| Mortgage banking, net | 1,615 | 2,238 | (623) | (28) | % | 19,429 | 18,873 | 556 | 3 | % | ||||||||||||||||
| Loss on mortgage portfolio sale | (136,239) | — | (136,239) | N/M | (136,239) | — | (136,239) | N/M | ||||||||||||||||||
| Bank and corporate owned life insurance | 3,383 | 3,427 | (44) | (1) | % | 10,266 | 11,431 | (1,165) | (10) | % | ||||||||||||||||
| Asset gains (losses), net | (136) | (545) | 409 | (75) | % | 454 | 1,338 | (884) | (66) | % | ||||||||||||||||
| Investment securities gains (losses), net | (58,958) | (1,930) | (57,028) | N/M | (58,903) | 3,746 | (62,649) | N/M | ||||||||||||||||||
Other | 2,850 | 4,102 | (1,252) | (31) | % | 9,691 | 10,715 | (1,024) | (10) | % | ||||||||||||||||
| Total noninterest income (loss) | (131,013) | 61,657 | (192,670) | N/M | 63,182 | 282,370 | (219,188) | (78) | % | |||||||||||||||||
| Noninterest expense | ||||||||||||||||||||||||||
| Personnel | 120,686 | 118,381 | 2,305 | 2 | % | 468,355 | 454,101 | 14,254 | 3 | % | ||||||||||||||||
| Technology | 28,027 | 25,299 | 2,728 | 11 | % | 102,018 | 90,700 | 11,318 | 12 | % | ||||||||||||||||
| Occupancy | 14,429 | 15,846 | (1,417) | (9) | % | 57,204 | 59,794 | (2,590) | (4) | % | ||||||||||||||||
| Business development and advertising | 8,350 | 8,136 | 214 | 3 | % | 28,405 | 25,525 | 2,880 | 11 | % | ||||||||||||||||
| Equipment | 4,742 | 4,791 | (49) | (1) | % | 19,663 | 19,632 | 31 | — | % | ||||||||||||||||
| Legal and professional | 6,762 | 4,132 | 2,630 | 64 | % | 19,911 | 18,250 | 1,661 | 9 | % | ||||||||||||||||
| Loan and foreclosure costs | 585 | 804 | (219) | (27) | % | 5,408 | 5,925 | (517) | (9) | % | ||||||||||||||||
| FDIC assessment | 41,497 | 6,350 | 35,147 | N/M | 67,072 | 22,650 | 44,422 | 196 | % | |||||||||||||||||
| Other intangible amortization | 2,203 | 2,203 | — | — | % | 8,811 | 8,811 | — | — | % | ||||||||||||||||
| Other | 12,110 | 10,618 | 1,492 | 14 | % | 36,837 | 41,675 | (4,838) | (12) | % | ||||||||||||||||
| Total noninterest expense | 239,391 | 196,560 | 42,831 | 22 | % | 813,682 | 747,063 | 66,619 | 9 | % | ||||||||||||||||
| Income (loss) before income taxes | (138,009) | 134,094 | (272,103) | N/M | 206,052 | 459,630 | (253,578) | (55) | % | |||||||||||||||||
| Income tax expense (benefit) | (47,202) | 25,332 | (72,534) | N/M | 23,097 | 93,508 | (70,411) | (75) | % | |||||||||||||||||
| Net income (loss) | (90,806) | 108,762 | (199,568) | N/M | 182,956 | 366,122 | (183,166) | (50) | % | |||||||||||||||||
| Preferred stock dividends | 2,875 | 2,875 | — | — | % | 11,500 | 11,500 | — | — | % | ||||||||||||||||
| Net income (loss) available to common equity | $ | (93,681) | $ | 105,887 | $ | (199,568) | N/M | $ | 171,456 | $ | 354,622 | $ | (183,166) | (52) | % | |||||||||||
| Earnings (loss) per common share | ||||||||||||||||||||||||||
| Basic | $ | (0.63) | $ | 0.70 | $ | (1.33) | N/M | $ | 1.14 | $ | 2.36 | $ | (1.22) | (52) | % | |||||||||||
| Diluted | $ | (0.62) | $ | 0.70 | $ | (1.32) | N/M | $ | 1.13 | $ | 2.34 | $ | (1.21) | (52) | % | |||||||||||
| Average common shares outstanding | ||||||||||||||||||||||||||
| Basic | 150,085 | 149,454 | 631 | — | % | 149,968 | 149,162 | 806 | 1 | % | ||||||||||||||||
| Diluted | 151,007 | 150,886 | 121 | — | % | 150,860 | 150,496 | 364 | — | % | ||||||||||||||||
| Associated Banc-Corp Consolidated Statements of Income (Unaudited) - Quarterly Trend | |||||||||||||||||||||||||||||
| ($ in thousands, except per share data) | Seql Qtr | Comp Qtr | |||||||||||||||||||||||||||
| 4Q23 | 3Q23 | $ Change | % Change | 2Q23 | 1Q23 | 4Q22 | $ Change | % Change | |||||||||||||||||||||
| Interest income | |||||||||||||||||||||||||||||
| Interest and fees on loans | $ | 457,868 | $ | 447,912 | $ | 9,956 | 2 | % | $ | 423,307 | $ | 391,320 | $ | 349,403 | $ | 108,465 | 31 | % | |||||||||||
| Interest and dividends on investment securities | |||||||||||||||||||||||||||||
| Taxable | 41,809 | 38,210 | 3,599 | 9 | % | 35,845 | 30,142 | 21,435 | 20,374 | 95 | % | ||||||||||||||||||
| Tax-exempt | 15,273 | 15,941 | (668) | (4) | % | 15,994 | 16,025 | 16,666 | (1,393) | (8) | % | ||||||||||||||||||
| Other interest | 10,418 | 6,575 | 3,843 | 58 | % | 6,086 | 5,329 | 3,779 | 6,639 | 176 | % | ||||||||||||||||||
| Total interest income | 525,367 | 508,637 | 16,730 | 3 | % | 481,231 | 442,817 | 391,283 | 134,084 | 34 | % | ||||||||||||||||||
| Interest expense | |||||||||||||||||||||||||||||
| Interest on deposits | 208,875 | 193,131 | 15,744 | 8 | % | 162,196 | 109,422 | 60,719 | 148,156 | N/M | |||||||||||||||||||
| Interest on federal funds purchased and securities sold under agreements to repurchase | 3,734 | 3,100 | 634 | 20 | % | 2,261 | 3,143 | 2,280 | 1,454 | 64 | % | ||||||||||||||||||
| Interest on FHLB advances | 49,171 | 48,143 | 1,028 | 2 | % | 49,261 | 49,960 | 36,824 | 12,347 | 34 | % | ||||||||||||||||||
| Interest on long-term funding | 10,185 | 10,019 | 166 | 2 | % | 9,596 | 6,281 | 2,470 | 7,715 | N/M | |||||||||||||||||||
| Total interest expense | 271,965 | 254,394 | 17,571 | 7 | % | 223,314 | 168,807 | 102,294 | 169,671 | 166 | % | ||||||||||||||||||
| Net interest income | 253,403 | 254,244 | (841) | — | % | 257,917 | 274,010 | 288,989 | (35,586) | (12) | % | ||||||||||||||||||
| Provision for credit losses | 21,007 | 21,943 | (936) | (4) | % | 22,100 | 17,971 | 19,992 | 1,015 | 5 | % | ||||||||||||||||||
| Net interest income after provision for credit losses | 232,395 | 232,301 | 94 | — | % | 235,817 | 256,039 | 268,997 | (36,602) | (14) | % | ||||||||||||||||||
| Noninterest income | |||||||||||||||||||||||||||||
| Wealth management fees | 21,003 | 20,828 | 175 | 1 | % | 20,483 | 20,189 | 20,403 | 600 | 3 | % | ||||||||||||||||||
| Service charges and deposit account fees | 10,815 | 12,864 | (2,049) | (16) | % | 12,372 | 12,994 | 13,918 | (3,103) | (22) | % | ||||||||||||||||||
| Card-based fees | 11,528 | 11,510 | 18 | — | % | 11,396 | 10,586 | 11,167 | 361 | 3 | % | ||||||||||||||||||
| Other fee-based revenue | 4,019 | 4,509 | (490) | (11) | % | 4,465 | 4,276 | 3,290 | 729 | 22 | % | ||||||||||||||||||
| Capital markets, net | 9,106 | 5,368 | 3,738 | 70 | % | 5,093 | 5,083 | 5,586 | 3,520 | 63 | % | ||||||||||||||||||
| Mortgage banking, net | 1,615 | 6,501 | (4,886) | (75) | % | 7,768 | 3,545 | 2,238 | (623) | (28) | % | ||||||||||||||||||
| Loss on mortgage portfolio sale | (136,239) | — | (136,239) | N/M | — | — | — | (136,239) | N/M | ||||||||||||||||||||
| Bank and corporate owned life insurance | 3,383 | 2,047 | 1,336 | 65 | % | 2,172 | 2,664 | 3,427 | (44) | (1) | % | ||||||||||||||||||
| Asset gains (losses), net | (136) | 625 | (761) | N/M | (299) | 263 | (545) | 409 | (75) | % | |||||||||||||||||||
| Investment securities gains (losses), net | (58,958) | (11) | (58,947) | N/M | 14 | 51 | (1,930) | (57,028) | N/M | ||||||||||||||||||||
| Other | 2,850 | 2,339 | 511 | 22 | % | 2,080 | 2,422 | 4,102 | (1,252) | (31) | % | ||||||||||||||||||
| Total noninterest income (loss) | (131,013) | 66,579 | (197,592) | N/M | 65,543 | 62,073 | 61,657 | (192,670) | N/M | ||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||
| Personnel | 120,686 | 117,159 | 3,527 | 3 | % | 114,089 | 116,420 | 118,381 | 2,305 | 2 | % | ||||||||||||||||||
| Technology | 28,027 | 26,172 | 1,855 | 7 | % | 24,220 | 23,598 | 25,299 | 2,728 | 11 | % | ||||||||||||||||||
| Occupancy | 14,429 | 14,125 | 304 | 2 | % | 13,587 | 15,063 | 15,846 | (1,417) | (9) | % | ||||||||||||||||||
| Business development and advertising | 8,350 | 7,100 | 1,250 | 18 | % | 7,106 | 5,849 | 8,136 | 214 | 3 | % | ||||||||||||||||||
| Equipment | 4,742 | 5,016 | (274) | (5) | % | 4,975 | 4,930 | 4,791 | (49) | (1) | % | ||||||||||||||||||
| Legal and professional | 6,762 | 4,461 | 2,301 | 52 | % | 4,831 | 3,857 | 4,132 | 2,630 | 64 | % | ||||||||||||||||||
| Loan and foreclosure costs | 585 | 2,049 | (1,464) | (71) | % | 1,635 | 1,138 | 804 | (219) | (27) | % | ||||||||||||||||||
| FDIC assessment | 41,497 | 9,150 | 32,347 | N/M | 9,550 | 6,875 | 6,350 | 35,147 | N/M | ||||||||||||||||||||
| Other intangible amortization | 2,203 | 2,203 | — | — | % | 2,203 | 2,203 | 2,203 | — | — | % | ||||||||||||||||||
| Other | 12,110 | 8,771 | 3,339 | 38 | % | 8,476 | 7,479 | 10,618 | 1,492 | 14 | % | ||||||||||||||||||
| Total noninterest expense | 239,391 | 196,205 | 43,186 | 22 | % | 190,673 | 187,412 | 196,560 | 42,831 | 22 | % | ||||||||||||||||||
| Income (loss) before income taxes | (138,009) | 102,674 | (240,683) | N/M | 110,687 | 130,700 | 134,094 | (272,103) | N/M | ||||||||||||||||||||
| Income tax expense (benefit) | (47,202) | 19,426 | (66,628) | N/M | 23,533 | 27,340 | 25,332 | (72,534) | N/M | ||||||||||||||||||||
| Net income (loss) | (90,806) | 83,248 | (174,054) | N/M | 87,154 | 103,360 | 108,762 | (199,568) | N/M | ||||||||||||||||||||
| Preferred stock dividends | 2,875 | 2,875 | — | — | % | 2,875 | 2,875 | 2,875 | — | — | % | ||||||||||||||||||
| Net income (loss) available to common equity | $ | (93,681) | $ | 80,373 | $ | (174,054) | N/M | $ | 84,279 | $ | 100,485 | $ | 105,887 | $ | (199,568) | N/M | |||||||||||||
| Earnings (loss) per common share | |||||||||||||||||||||||||||||
| Basic | $ | (0.63) | $ | 0.53 | $ | (1.16) | N/M | $ | 0.56 | $ | 0.67 | $ | 0.70 | $ | (1.33) | N/M | |||||||||||||
| Diluted | $ | (0.62) | $ | 0.53 | $ | (1.15) | N/M | $ | 0.56 | $ | 0.66 | $ | 0.70 | $ | (1.32) | N/M | |||||||||||||
| Average common shares outstanding | |||||||||||||||||||||||||||||
| Basic | 150,085 | 150,035 | 50 | — | % | 149,986 | 149,763 | 149,454 | 631 | — | % | ||||||||||||||||||
| Diluted | 151,007 | 151,014 | (7) | — | % | 150,870 | 151,128 | 150,886 | 121 | — | % | ||||||||||||||||||
| Associated Banc-Corp Selected Quarterly Information | |||||||||||||||||||||||
| ($ in millions except per share data; shares repurchased and outstanding in thousands) | YTD Dec 2023 | YTD Dec 2022 | 4Q23 | 3Q23 | 2Q23 | 1Q23 | 4Q22 | ||||||||||||||||
| Per common share data | |||||||||||||||||||||||
| Dividends | $ | 0.85 | $ | 0.81 | $ | 0.22 | $ | 0.21 | $ | 0.21 | $ | 0.21 | $ | 0.21 | |||||||||
| Market value: | |||||||||||||||||||||||
| High | 24.18 | 25.71 | 21.79 | 19.21 | 18.45 | 24.18 | 25.13 | ||||||||||||||||
| Low | 14.48 | 17.63 | 15.45 | 16.22 | 14.48 | 17.66 | 20.54 | ||||||||||||||||
| Close | 21.39 | 17.11 | 16.23 | 17.98 | 23.09 | ||||||||||||||||||
| Book value / share | 26.35 | 26.06 | 26.03 | 26.06 | 25.40 | ||||||||||||||||||
| Tangible book value / share | 18.77 | 18.46 | 18.41 | 18.42 | 17.73 | ||||||||||||||||||
| Performance ratios (annualized) | |||||||||||||||||||||||
| Return on average assets | 0.45 | % | 1.00 | % | (0.87) | % | 0.80 | % | 0.86 | % | 1.06 | % | 1.12 | % | |||||||||
| Noninterest expense / average assets | 2.00 | % | 2.04 | % | 2.30 | % | 1.90 | % | 1.89 | % | 1.92 | % | 2.03 | % | |||||||||
| Effective tax rate | 11.21 | % | 20.34 | % | N/M | 18.92 | % | 21.26 | % | 20.92 | % | 18.89 | % | ||||||||||
Dividend payout ratio(a) | 74.56 | % | 34.32 | % | N/M | 39.62 | % | 37.50 | % | 31.34 | % | 30.00 | % | ||||||||||
| Net interest margin | 2.81 | % | 2.91 | % | 2.69 | % | 2.71 | % | 2.80 | % | 3.07 | % | 3.31 | % | |||||||||
| Selected trend information | |||||||||||||||||||||||
Average full time equivalent employees(b) | 4,199 | 4,118 | 4,130 | 4,220 | 4,227 | 4,219 | 4,169 | ||||||||||||||||
| Branch count | 196 | 202 | 202 | 202 | 202 | ||||||||||||||||||
Assets under management, at market value(c) | $ | 13,545 | $ | 12,543 | $ | 12,995 | $ | 12,412 | $ | 11,843 | |||||||||||||
| Mortgage loans originated for sale during period | $ | 396 | $ | 600 | $ | 112 | $ | 115 | $ | 99 | $ | 69 | $ | 64 | |||||||||
Mortgage loan settlements during period(d) | $ | 1,212 | $ | 715 | $ | 957 | $ | 103 | $ | 97 | $ | 55 | $ | 95 | |||||||||
Mortgage portfolio loans transferred to held for sale during period(d) | $ | 969 | $ | — | $ | 969 | $ | — | $ | — | $ | — | $ | — | |||||||||
Mortgage portfolio serviced for others(d) | $ | 7,364 | $ | 6,452 | $ | 6,525 | $ | 6,612 | $ | 6,712 | |||||||||||||
Mortgage servicing rights, net / mortgage portfolio serviced for others(d) | 1.15 | % | 1.38 | % | 1.23 | % | 1.13 | % | 1.15 | % | |||||||||||||
| Shares outstanding, end of period | 151,037 | 150,951 | 150,919 | 150,886 | 150,444 | ||||||||||||||||||
| Selected quarterly ratios | |||||||||||||||||||||||
| Loans / deposits | 87.35 | % | 93.99 | % | 93.24 | % | 96.29 | % | 97.18 | % | |||||||||||||
| Stockholders’ equity / assets | 10.18 | % | 9.91 | % | 10.00 | % | 10.14 | % | 10.19 | % | |||||||||||||
Risk-based capital(e)(f) | |||||||||||||||||||||||
| Total risk-weighted assets | $ | 32,732 | $ | 33,497 | $ | 33,144 | $ | 32,646 | $ | 32,470 | |||||||||||||
| Common equity Tier 1 | $ | 3,075 | $ | 3,197 | $ | 3,143 | $ | 3,086 | $ | 3,036 | |||||||||||||
| Common equity Tier 1 capital ratio | 9.39 | % | 9.55 | % | 9.48 | % | 9.45 | % | 9.35 | % | |||||||||||||
| Tier 1 capital ratio | 9.99 | % | 10.12 | % | 10.07 | % | 10.05 | % | 9.95 | % | |||||||||||||
| Total capital ratio | 12.21 | % | 12.25 | % | 12.22 | % | 12.22 | % | 11.33 | % | |||||||||||||
| Tier 1 leverage ratio | 8.06 | % | 8.42 | % | 8.40 | % | 8.46 | % | 8.59 | % | |||||||||||||
| Associated Banc-Corp Selected Asset Quality Information | |||||||||||||||||||||||
| ($ in thousands) | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Allowance for loan losses | |||||||||||||||||||||||
| Balance at beginning of period | $ | 345,795 | $ | 338,750 | 2 | % | $ | 326,432 | $ | 312,720 | $ | 292,904 | 18 | % | |||||||||
| Provision for loan losses | 21,000 | 25,500 | (18) | % | 23,500 | 17,000 | 21,000 | — | % | ||||||||||||||
| Charge offs | (17,878) | (20,535) | (13) | % | (14,855) | (5,501) | (2,982) | N/M | |||||||||||||||
| Recoveries | 2,177 | 2,079 | 5 | % | 3,674 | 2,212 | 1,798 | 21 | % | ||||||||||||||
| Net (charge offs) recoveries | (15,701) | (18,455) | (15) | % | (11,181) | (3,289) | (1,183) | N/M | |||||||||||||||
| Balance at end of period | $ | 351,094 | $ | 345,795 | 2 | % | $ | 338,750 | $ | 326,432 | $ | 312,720 | 12 | % | |||||||||
| Allowance for unfunded commitments | |||||||||||||||||||||||
| Balance at beginning of period | $ | 34,776 | $ | 38,276 | (9) | % | $ | 39,776 | $ | 38,776 | $ | 39,776 | (13) | % | |||||||||
| Provision for unfunded commitments | — | (3,500) | (100) | % | (1,500) | 1,000 | (1,000) | (100) | % | ||||||||||||||
| Balance at end of period | $ | 34,776 | $ | 34,776 | — | % | $ | 38,276 | $ | 39,776 | $ | 38,776 | (10) | % | |||||||||
| Allowance for credit losses on loans (ACLL) | $ | 385,870 | $ | 380,571 | 1 | % | $ | 377,027 | $ | 366,208 | $ | 351,496 | 10 | % | |||||||||
| Provision for credit losses on loans | $ | 21,000 | $ | 22,000 | (5) | % | $ | 22,000 | $ | 18,000 | $ | 20,000 | 5 | % | |||||||||
| ($ in thousands) | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Net (charge offs) recoveries | |||||||||||||||||||||||
| Commercial and industrial | $ | (13,178) | $ | (16,558) | (20) | % | $ | (11,177) | $ | (1,759) | $ | 278 | N/M | ||||||||||
| Commercial real estate—owner occupied | (22) | 2 | N/M | 3 | 3 | 3 | N/M | ||||||||||||||||
| Commercial and business lending | (13,200) | (16,556) | (20) | % | (11,174) | (1,756) | 281 | N/M | |||||||||||||||
| Commercial real estate—investor | 216 | 272 | (21) | % | 2,276 | — | — | N/M | |||||||||||||||
| Real estate construction | 38 | 18 | 111 | % | (18) | 18 | 16 | 138 | % | ||||||||||||||
| Commercial real estate lending | 253 | 290 | (13) | % | 2,257 | 18 | 16 | N/M | |||||||||||||||
| Total commercial | (12,947) | (16,266) | (20) | % | (8,917) | (1,738) | 297 | N/M | |||||||||||||||
| Residential mortgage | (53) | (22) | 141 | % | (283) | (53) | (125) | (58) | % | ||||||||||||||
| Auto finance | (1,436) | (1,269) | 13 | % | (1,048) | (957) | (768) | 87 | % | ||||||||||||||
| Home equity | 185 | 128 | 45 | % | 183 | 340 | 123 | 50 | % | ||||||||||||||
| Other consumer | (1,450) | (1,027) | 41 | % | (1,117) | (881) | (711) | 104 | % | ||||||||||||||
| Total consumer | (2,754) | (2,189) | 26 | % | (2,264) | (1,550) | (1,480) | 86 | % | ||||||||||||||
| Total net (charge offs) recoveries | $ | (15,701) | $ | (18,455) | (15) | % | $ | (11,181) | $ | (3,289) | $ | (1,183) | N/M | ||||||||||
| (In basis points) | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | ||||||||||||||||||
| Net (charge offs) recoveries to average loans (annualized) | |||||||||||||||||||||||
| Commercial and industrial | (54) | (66) | (46) | (7) | 1 | ||||||||||||||||||
| Commercial real estate—owner occupied | (1) | — | — | — | — | ||||||||||||||||||
| Commercial and business lending | (48) | (60) | (41) | (7) | 1 | ||||||||||||||||||
| Commercial real estate—investor | 2 | 2 | 18 | — | — | ||||||||||||||||||
| Real estate construction | 1 | — | — | — | — | ||||||||||||||||||
| Commercial real estate lending | 1 | 2 | 12 | — | — | ||||||||||||||||||
| Total commercial | (28) | (35) | (20) | (4) | 1 | ||||||||||||||||||
| Residential mortgage | — | — | (1) | — | (1) | ||||||||||||||||||
| Auto finance | (27) | (27) | (25) | (26) | (24) | ||||||||||||||||||
| Home equity | 12 | 8 | 12 | 22 | 8 | ||||||||||||||||||
| Other consumer | (208) | (148) | (163) | (125) | (95) | ||||||||||||||||||
| Total consumer | (9) | (7) | (8) | (6) | (6) | ||||||||||||||||||
| Total net (charge offs) recoveries | (21) | (25) | (15) | (5) | (2) | ||||||||||||||||||
| ($ in thousands) | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Credit quality | |||||||||||||||||||||||
| Nonaccrual loans | $ | 148,997 | $ | 168,558 | (12) | % | $ | 131,278 | $ | 117,569 | $ | 111,467 | 34 | % | |||||||||
| Other real estate owned (OREO) | 10,506 | 8,452 | 24 | % | 7,575 | 15,184 | 14,784 | (29) | % | ||||||||||||||
| Repossessed assets | $ | 919 | $ | 658 | 40 | % | $ | 348 | $ | 92 | $ | 215 | N/M | ||||||||||
| Total nonperforming assets | $ | 160,421 | $ | 177,668 | (10) | % | $ | 139,201 | $ | 132,845 | $ | 126,466 | 27 | % | |||||||||
| Loans 90 or more days past due and still accruing | $ | 21,689 | $ | 2,156 | N/M | $ | 1,726 | $ | 1,703 | $ | 1,728 | N/M | |||||||||||
| Allowance for credit losses on loans to total loans | 1.32 | % | 1.26 | % | 1.26 | % | 1.25 | % | 1.22 | % | |||||||||||||
| Allowance for credit losses on loans to nonaccrual loans | 258.98 | % | 225.78 | % | 287.20 | % | 311.48 | % | 315.34 | % | |||||||||||||
| Nonaccrual loans to total loans | 0.51 | % | 0.56 | % | 0.44 | % | 0.40 | % | 0.39 | % | |||||||||||||
| Nonperforming assets to total loans plus OREO and repossessed assets | 0.55 | % | 0.59 | % | 0.47 | % | 0.45 | % | 0.44 | % | |||||||||||||
| Nonperforming assets to total assets | 0.39 | % | 0.43 | % | 0.34 | % | 0.33 | % | 0.32 | % | |||||||||||||
| Annualized year-to-date net charge offs (recoveries) to year-to-date average loans | 0.16 | % | 0.15 | % | 0.10 | % | 0.05 | % | — | % | |||||||||||||
| Associated Banc-Corp Selected Asset Quality Information (continued) | |||||||||||||||||||||||
| (In thousands) | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Nonaccrual loans | |||||||||||||||||||||||
| Commercial and industrial | $ | 62,022 | $ | 74,812 | (17) | % | $ | 34,907 | $ | 22,735 | $ | 14,329 | N/M | ||||||||||
| Commercial real estate—owner occupied | 1,394 | 3,936 | (65) | % | 1,444 | 1,478 | — | N/M | |||||||||||||||
| Commercial and business lending | 63,416 | 78,748 | (19) | % | 36,352 | 24,213 | 14,329 | N/M | |||||||||||||||
| Commercial real estate—investor | — | 10,882 | (100) | % | 22,068 | 25,122 | 29,380 | (100) | % | ||||||||||||||
| Real estate construction | 6 | 103 | (94) | % | 125 | 178 | 105 | (94) | % | ||||||||||||||
| Commercial real estate lending | 6 | 10,985 | (100) | % | 22,193 | 25,300 | 29,485 | (100) | % | ||||||||||||||
| Total commercial | 63,422 | 89,732 | (29) | % | 58,544 | 49,513 | 43,814 | 45 | % | ||||||||||||||
| Residential mortgage | 71,142 | 66,153 | 8 | % | 61,718 | 58,274 | 58,480 | 22 | % | ||||||||||||||
| Auto finance | 5,797 | 4,533 | 28 | % | 3,065 | 2,436 | 1,490 | N/M | |||||||||||||||
| Home equity | 8,508 | 7,917 | 7 | % | 7,788 | 7,246 | 7,487 | 14 | % | ||||||||||||||
| Other consumer | 128 | 222 | (42) | % | 163 | 100 | 197 | (35) | % | ||||||||||||||
| Total consumer | 85,574 | 78,826 | 9 | % | 72,733 | 68,056 | 67,654 | 26 | % | ||||||||||||||
| Total nonaccrual loans | $ | 148,997 | $ | 168,558 | (12) | % | $ | 131,278 | $ | 117,569 | $ | 111,467 | 34 | % | |||||||||
| Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | |||||||||||||||||
Restructured loans (accruing)(a) | |||||||||||||||||||||||
| Commercial and industrial | $ | 306 | $ | 234 | 31 | % | $ | 168 | $ | 47 | $ | 12,453 | N/A | ||||||||||
| Commercial real estate—owner occupied | — | — | N/M | — | — | 316 | N/A | ||||||||||||||||
| Commercial and business lending | 306 | 234 | 31 | % | 168 | 47 | 12,769 | N/A | |||||||||||||||
| Commercial real estate—investor | — | — | N/M | — | — | 128 | N/A | ||||||||||||||||
| Real estate construction | — | — | N/M | — | — | 195 | N/A | ||||||||||||||||
| Commercial real estate lending | — | — | N/M | — | — | 324 | N/A | ||||||||||||||||
| Total commercial | 306 | 234 | 31 | % | 168 | 47 | 13,093 | N/A | |||||||||||||||
| Residential mortgage | 405 | 207 | 96 | % | 126 | 126 | 16,829 | N/A | |||||||||||||||
| Auto finance | 255 | 169 | 51 | % | 80 | 61 | — | N/A | |||||||||||||||
| Home equity | 305 | 236 | 29 | % | 78 | 31 | 2,148 | N/A | |||||||||||||||
| Other consumer | 1,449 | 1,243 | 17 | % | 988 | 498 | 798 | N/A | |||||||||||||||
| Total consumer | 2,414 | 1,855 | 30 | % | 1,271 | 716 | 19,775 | N/A | |||||||||||||||
| Total restructured loans (accruing) | $ | 2,719 | $ | 2,089 | 30 | % | $ | 1,439 | $ | 763 | $ | 32,868 | N/A | ||||||||||
| Nonaccrual restructured loans (included in nonaccrual loans) | $ | 805 | $ | 961 | (16) | % | $ | 796 | $ | 341 | $ | 20,127 | N/A | ||||||||||
| Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | |||||||||||||||||
| Accruing loans 30-89 days past due | |||||||||||||||||||||||
| Commercial and industrial | $ | 5,565 | $ | 1,507 | N/M | $ | 12,005 | $ | 4,239 | $ | 6,283 | (11) | % | ||||||||||
| Commercial real estate—owner occupied | 358 | 1,877 | (81) | % | 1,484 | 2,955 | 230 | 56 | % | ||||||||||||||
| Commercial and business lending | 5,923 | 3,384 | 75 | % | 13,489 | 7,195 | 6,512 | (9) | % | ||||||||||||||
| Commercial real estate—investor | 18,697 | 10,121 | 85 | % | — | — | 1,067 | N/M | |||||||||||||||
| Real estate construction | — | 10 | (100) | % | 76 | — | 39 | (100) | % | ||||||||||||||
| Commercial real estate lending | 18,697 | 10,131 | 85 | % | 76 | — | 1,105 | N/M | |||||||||||||||
| Total commercial | 24,619 | 13,515 | 82 | % | 13,565 | 7,195 | 7,618 | N/M | |||||||||||||||
| Residential mortgage | 13,446 | 11,652 | 15 | % | 8,961 | 7,626 | 9,874 | 36 | % | ||||||||||||||
| Auto finance | 17,386 | 16,688 | 4 | % | 11,429 | 8,640 | 9,408 | 85 | % | ||||||||||||||
| Home equity | 4,208 | 3,687 | 14 | % | 4,030 | 4,113 | 5,607 | (25) | % | ||||||||||||||
| Other consumer | 2,166 | 1,880 | 15 | % | 2,025 | 1,723 | 1,610 | 35 | % | ||||||||||||||
| Total consumer | 37,205 | 33,908 | 10 | % | 26,444 | 22,102 | 26,499 | 40 | % | ||||||||||||||
| Total accruing loans 30-89 days past due | $ | 61,825 | $ | 47,422 | 30 | % | $ | 40,008 | $ | 29,297 | $ | 34,117 | 81 | % | |||||||||
| Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | |||||||||||||||||
| Potential problem loans | |||||||||||||||||||||||
| Commercial and industrial | $ | 197,202 | $ | 207,237 | (5) | % | $ | 205,228 | $ | 135,047 | $ | 136,549 | 44 | % | |||||||||
| Commercial real estate—owner occupied | 38,699 | 27,792 | 39 | % | 29,396 | 32,077 | 34,422 | 12 | % | ||||||||||||||
| Commercial and business lending | 235,900 | 235,029 | — | % | 234,624 | 167,124 | 170,971 | 38 | % | ||||||||||||||
| Commercial real estate—investor | 196,163 | 148,840 | 32 | % | 106,662 | 89,653 | 92,535 | 112 | % | ||||||||||||||
| Real estate construction | — | — | N/M | — | — | 970 | (100) | % | |||||||||||||||
| Commercial real estate lending | 196,163 | 148,840 | 32 | % | 106,662 | 89,653 | 93,505 | 110 | % | ||||||||||||||
| Total commercial | 432,063 | 383,869 | 13 | % | 341,286 | 256,776 | 264,476 | 63 | % | ||||||||||||||
| Residential mortgage | 784 | 1,247 | (37) | % | 1,646 | 1,684 | 1,978 | (60) | % | ||||||||||||||
| Home equity | 118 | 236 | (50) | % | 240 | 244 | 197 | (40) | % | ||||||||||||||
| Total consumer | 901 | 1,483 | (39) | % | 1,886 | 1,928 | 2,175 | (59) | % | ||||||||||||||
| Total potential problem loans | $ | 432,965 | $ | 385,352 | 12 | % | $ | 343,173 | $ | 258,704 | $ | 266,651 | 62 | % | |||||||||
| Associated Banc-Corp Net Interest Income Analysis - Fully Tax-Equivalent Basis - Sequential and Comparable Quarter | |||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||
| December 31, 2023 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||
| ($ in thousands) | Average Balance | Interest Income /Expense | Average Yield /Rate | Average Balance | Interest Income /Expense | Average Yield /Rate | Average Balance | Interest Income /Expense | Average Yield /Rate | ||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||
| Earning assets | |||||||||||||||||||||||||||||
Loans (a) (b) (c) | |||||||||||||||||||||||||||||
| Commercial and business lending | $ | 10,820,214 | $ | 193,808 | 7.11 | % | $ | 10,985,584 | $ | 194,956 | 7.04 | % | $ | 10,529,984 | $ | 147,184 | 5.55 | % | |||||||||||
| Commercial real estate lending | 7,397,809 | 138,437 | 7.42 | % | 7,312,645 | 134,370 | 7.29 | % | 7,062,405 | 105,479 | 5.93 | % | |||||||||||||||||
| Total commercial | 18,218,024 | 332,245 | 7.24 | % | 18,298,229 | 329,326 | 7.14 | % | 17,592,389 | 252,663 | 5.70 | % | |||||||||||||||||
| Residential mortgage | 8,691,258 | 76,035 | 3.50 | % | 8,807,157 | 74,643 | 3.39 | % | 8,443,661 | 68,069 | 3.22 | % | |||||||||||||||||
| Auto finance | 2,138,536 | 29,221 | 5.42 | % | 1,884,540 | 24,074 | 5.07 | % | 1,244,436 | 12,911 | 4.12 | % | |||||||||||||||||
| Other retail | 904,618 | 21,026 | 9.27 | % | 894,685 | 20,534 | 9.15 | % | 914,848 | 16,366 | 7.13 | % | |||||||||||||||||
| Total loans | 29,952,435 | 458,527 | 6.08 | % | 29,884,611 | 448,577 | 5.96 | % | 28,195,334 | 350,009 | 4.93 | % | |||||||||||||||||
| Investment securities | |||||||||||||||||||||||||||||
| Taxable | 5,344,578 | 41,809 | 3.13 | % | 5,407,299 | 38,210 | 2.83 | % | 4,336,132 | 21,435 | 1.98 | % | |||||||||||||||||
Tax-exempt(a) | 2,209,662 | 19,244 | 3.48 | % | 2,300,488 | 20,085 | 3.49 | % | 2,428,751 | 21,000 | 3.46 | % | |||||||||||||||||
| Other short-term investments | 767,256 | 10,418 | 5.39 | % | 483,211 | 6,575 | 5.40 | % | 408,091 | 3,779 | 3.68 | % | |||||||||||||||||
| Investments and other | 8,321,495 | 71,471 | 3.43 | % | 8,190,998 | 64,870 | 3.16 | % | 7,172,975 | 46,213 | 2.57 | % | |||||||||||||||||
| Total earning assets | 38,273,931 | $ | 529,998 | 5.51 | % | 38,075,608 | $ | 513,447 | 5.36 | % | 35,368,309 | $ | 396,222 | 4.46 | % | ||||||||||||||
| Other assets, net | 3,056,772 | 3,000,371 | 3,017,127 | ||||||||||||||||||||||||||
| Total assets | $ | 41,330,703 | $ | 41,075,980 | $ | 38,385,436 | |||||||||||||||||||||||
| Liabilities and stockholders' equity | |||||||||||||||||||||||||||||
| Interest-bearing liabilities | |||||||||||||||||||||||||||||
| Interest-bearing deposits | |||||||||||||||||||||||||||||
| Savings | $ | 4,861,913 | $ | 20,334 | 1.66 | % | $ | 4,814,499 | $ | 18,592 | 1.53 | % | $ | 4,660,696 | $ | 3,607 | 0.31 | % | |||||||||||
| Interest-bearing demand | 7,156,151 | 47,277 | 2.62 | % | 6,979,071 | 41,980 | 2.39 | % | 6,831,213 | 20,861 | 1.21 | % | |||||||||||||||||
| Money market | 6,121,105 | 47,110 | 3.05 | % | 6,294,083 | 45,034 | 2.84 | % | 7,382,793 | 23,728 | 1.28 | % | |||||||||||||||||
| Network transaction deposits | 1,616,719 | 22,034 | 5.41 | % | 1,639,619 | 22,008 | 5.33 | % | 901,168 | 8,261 | 3.64 | % | |||||||||||||||||
| Time deposits | 6,264,621 | 72,121 | 4.57 | % | 5,955,741 | 65,517 | 4.36 | % | 1,463,204 | 4,262 | 1.16 | % | |||||||||||||||||
| Total interest-bearing deposits | 26,020,510 | 208,875 | 3.18 | % | 25,683,013 | 193,131 | 2.98 | % | 21,239,073 | 60,719 | 1.13 | % | |||||||||||||||||
| Federal funds purchased and securities sold under agreements to repurchase | 347,204 | 3,734 | 4.27 | % | 320,518 | 3,100 | 3.84 | % | 424,352 | 2,280 | 2.13 | % | |||||||||||||||||
| Commercial paper | — | — | — | % | 5,041 | — | 0.01 | % | 12,927 | — | 0.01 | % | |||||||||||||||||
| FHLB advances | 3,467,433 | 49,171 | 5.63 | % | 3,460,827 | 48,143 | 5.52 | % | 3,790,101 | 36,824 | 3.85 | % | |||||||||||||||||
| Long-term funding | 531,155 | 10,185 | 7.67 | % | 533,744 | 10,019 | 7.51 | % | 248,645 | 2,470 | 3.97 | % | |||||||||||||||||
| Total short and long-term funding | 4,345,793 | 63,090 | 5.77 | % | 4,320,130 | 61,263 | 5.63 | % | 4,476,025 | 41,575 | 3.69 | % | |||||||||||||||||
| Total interest-bearing liabilities | 30,366,302 | $ | 271,965 | 3.55 | % | 30,003,143 | $ | 254,394 | 3.36 | % | 25,715,098 | $ | 102,294 | 1.58 | % | ||||||||||||||
| Noninterest-bearing demand deposits | 6,171,240 | 6,318,781 | 8,088,435 | ||||||||||||||||||||||||||
| Other liabilities | 672,597 | 622,004 | 590,223 | ||||||||||||||||||||||||||
| Stockholders’ equity | 4,120,564 | 4,132,052 | 3,991,679 | ||||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 41,330,703 | $ | 41,075,980 | $ | 38,385,436 | |||||||||||||||||||||||
| Interest rate spread | 1.96 | % | 2.00 | % | 2.88 | % | |||||||||||||||||||||||
| Net free funds | 0.73 | % | 0.71 | % | 0.43 | % | |||||||||||||||||||||||
| Fully tax-equivalent net interest income and net interest margin | $ | 258,033 | 2.69 | % | $ | 259,053 | 2.71 | % | $ | 293,929 | 3.31 | % | |||||||||||||||||
| Fully tax-equivalent adjustment | 4,630 | 4,810 | 4,939 | ||||||||||||||||||||||||||
| Net interest income | $ | 253,403 | $ | 254,244 | $ | 288,989 | |||||||||||||||||||||||
| Associated Banc-Corp Net Interest Income Analysis - Fully Tax-Equivalent Basis - Year Over Year | ||||||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||
| 2023 | 2022 | |||||||||||||||||||
| ($ in thousands) | Average Balance | Interest Income /Expense | Average Yield / Rate | Average Balance | Interest Income /Expense | Average Yield / Rate | ||||||||||||||
| Assets | ||||||||||||||||||||
| Earning assets | ||||||||||||||||||||
Loans (a) (b) (c) | ||||||||||||||||||||
| Commercial and business lending | $ | 10,831,275 | $ | 740,017 | 6.83 | % | $ | 9,852,303 | $ | 384,155 | 3.90 | % | ||||||||
| Commercial real estate lending | 7,314,651 | 520,028 | 7.11 | % | 6,595,635 | 281,485 | 4.27 | % | ||||||||||||
| Total commercial | 18,145,926 | 1,260,045 | 6.94 | % | 16,447,938 | 665,640 | 4.05 | % | ||||||||||||
Residential mortgage | 8,696,706 | 293,446 | 3.37 | % | 8,052,277 | 245,975 | 3.05 | % | ||||||||||||
| Auto finance | 1,793,959 | 89,454 | 4.99 | % | 805,179 | 30,749 | 3.82 | % | ||||||||||||
| Other retail | 897,702 | 80,189 | 8.93 | % | 894,948 | 52,266 | 5.84 | % | ||||||||||||
| Total loans | 29,534,293 | 1,723,134 | 5.83 | % | 26,200,341 | 994,630 | 3.80 | % | ||||||||||||
| Investment securities | ||||||||||||||||||||
| Taxable | 5,243,805 | 146,006 | 2.78 | % | 4,362,394 | 75,444 | 1.73 | % | ||||||||||||
Tax-exempt (a) | 2,288,328 | 79,673 | 3.48 | % | 2,419,262 | 82,771 | 3.42 | % | ||||||||||||
| Other short-term investments | 564,284 | 28,408 | 5.03 | % | 570,887 | 11,475 | 2.01 | % | ||||||||||||
| Investments and other | 8,096,417 | 254,087 | 3.14 | % | 7,352,542 | 169,690 | 2.31 | % | ||||||||||||
| Total earning assets | 37,630,710 | $ | 1,977,221 | 5.25 | % | 33,552,884 | $ | 1,164,320 | 3.47 | % | ||||||||||
| Other assets, net | 3,018,214 | 3,105,049 | ||||||||||||||||||
| Total assets | $ | 40,648,923 | $ | 36,657,932 | ||||||||||||||||
| Liabilities and stockholders' equity | ||||||||||||||||||||
| Interest-bearing liabilities | ||||||||||||||||||||
| Interest-bearing deposits | ||||||||||||||||||||
| Savings | $ | 4,773,366 | $ | 63,945 | 1.34 | % | $ | 4,652,774 | $ | 5,033 | 0.11 | % | ||||||||
| Interest-bearing demand | 6,904,514 | 154,136 | 2.23 | % | 6,638,592 | 35,169 | 0.53 | % | ||||||||||||
| Money market | 6,668,930 | 177,311 | 2.66 | % | 7,164,518 | 36,370 | 0.51 | % | ||||||||||||
| Network transaction deposits | 1,469,616 | 75,294 | 5.12 | % | 821,804 | 14,721 | 1.79 | % | ||||||||||||
| Time deposits | 4,905,748 | 202,939 | 4.14 | % | 1,315,793 | 7,016 | 0.53 | % | ||||||||||||
| Total interest-bearing deposits | 24,722,174 | 673,624 | 2.72 | % | 20,593,482 | 98,309 | 0.48 | % | ||||||||||||
| Federal funds purchased and securities sold under agreements to repurchase | 345,519 | 12,238 | 3.54 | % | 388,701 | 3,480 | 0.90 | % | ||||||||||||
| Commercial paper | 8,582 | 1 | 0.01 | % | 20,540 | 2 | 0.01 | % | ||||||||||||
| FHLB advances | 3,741,790 | 196,535 | 5.25 | % | 2,784,403 | 75,487 | 2.71 | % | ||||||||||||
| Long-term funding | 504,438 | 36,080 | 7.15 | % | 249,478 | 10,653 | 4.27 | % | ||||||||||||
| Total short and long-term funding | 4,600,329 | 244,855 | 5.32 | % | 3,443,123 | 89,621 | 2.60 | % | ||||||||||||
| Total interest-bearing liabilities | 29,322,503 | $ | 918,479 | 3.13 | % | 24,036,605 | $ | 187,931 | 0.78 | % | ||||||||||
| Noninterest-bearing demand deposits | 6,620,965 | 8,163,703 | ||||||||||||||||||
| Other liabilities | 594,318 | 482,538 | ||||||||||||||||||
| Stockholders’ equity | 4,111,138 | 3,975,086 | ||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 40,648,923 | $ | 36,657,932 | ||||||||||||||||
| Interest rate spread | 2.12 | % | 2.69 | % | ||||||||||||||||
| Net free funds | 0.69 | % | 0.22 | % | ||||||||||||||||
| Fully tax-equivalent net interest income and net interest margin | $ | 1,058,742 | 2.81 | % | $ | 976,389 | 2.91 | % | ||||||||||||
| Fully tax-equivalent adjustment | 19,168 | 19,068 | ||||||||||||||||||
| Net interest income | $ | 1,039,573 | $ | 957,321 | ||||||||||||||||
| Associated Banc-Corp Loan and Deposit Composition | |||||||||||||||||||||||
| ($ in thousands) | |||||||||||||||||||||||
| Period end loan composition | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Commercial and industrial | $ | 9,731,555 | $ | 10,099,068 | (4) | % | $ | 10,055,487 | $ | 9,869,781 | $ | 9,759,454 | — | % | |||||||||
| Commercial real estate—owner occupied | 1,061,700 | 1,054,969 | 1 | % | 1,058,237 | 1,050,236 | 991,722 | 7 | % | ||||||||||||||
| Commercial and business lending | 10,793,255 | 11,154,037 | (3) | % | 11,113,724 | 10,920,017 | 10,751,176 | — | % | ||||||||||||||
| Commercial real estate—investor | 5,124,245 | 5,218,980 | (2) | % | 5,312,928 | 5,094,249 | 5,080,344 | 1 | % | ||||||||||||||
| Real estate construction | 2,271,398 | 2,130,719 | 7 | % | 2,009,060 | 2,147,070 | 2,155,222 | 5 | % | ||||||||||||||
| Commercial real estate lending | 7,395,644 | 7,349,699 | 1 | % | 7,321,988 | 7,241,318 | 7,235,565 | 2 | % | ||||||||||||||
| Total commercial | 18,188,898 | 18,503,736 | (2) | % | 18,435,711 | 18,161,335 | 17,986,742 | 1 | % | ||||||||||||||
| Residential mortgage | 7,864,891 | 8,782,645 | (10) | % | 8,746,345 | 8,605,164 | 8,511,550 | (8) | % | ||||||||||||||
| Auto finance | 2,256,162 | 2,007,164 | 12 | % | 1,777,974 | 1,551,538 | 1,382,073 | 63 | % | ||||||||||||||
| Home equity | 628,526 | 623,650 | 1 | % | 615,506 | 609,787 | 624,353 | 1 | % | ||||||||||||||
| Other consumer | 277,740 | 275,993 | 1 | % | 273,367 | 279,248 | 294,851 | (6) | % | ||||||||||||||
| Total consumer | 11,027,319 | 11,689,451 | (6) | % | 11,413,193 | 11,045,737 | 10,812,828 | 2 | % | ||||||||||||||
| Total loans | $ | 29,216,218 | $ | 30,193,187 | (3) | % | $ | 29,848,904 | $ | 29,207,072 | $ | 28,799,569 | 1 | % | |||||||||
| Period end deposit and customer funding composition | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Noninterest-bearing demand | $ | 6,119,956 | $ | 6,422,994 | (5) | % | $ | 6,565,666 | $ | 7,328,689 | $ | 7,760,811 | (21) | % | |||||||||
| Savings | 4,835,701 | 4,836,735 | — | % | 4,777,415 | 4,730,472 | 4,604,848 | 5 | % | ||||||||||||||
| Interest-bearing demand | 8,843,967 | 7,528,154 | 17 | % | 7,037,959 | 6,977,121 | 7,100,727 | 25 | % | ||||||||||||||
| Money market | 6,330,453 | 7,268,506 | (13) | % | 7,521,930 | 8,357,625 | 8,239,610 | (23) | % | ||||||||||||||
| Brokered CDs | 4,447,479 | 3,351,399 | 33 | % | 3,818,325 | 1,185,565 | 541,916 | N/M | |||||||||||||||
| Other time deposits | 2,868,494 | 2,715,538 | 6 | % | 2,293,114 | 1,752,351 | 1,388,242 | 107 | % | ||||||||||||||
| Total deposits | 33,446,049 | 32,123,326 | 4 | % | 32,014,409 | 30,331,824 | 29,636,154 | 13 | % | ||||||||||||||
Other customer funding(a) | 106,620 | 151,644 | (30) | % | 170,873 | 226,258 | 261,767 | (59) | % | ||||||||||||||
| Total deposits and other customer funding | $ | 33,552,669 | $ | 32,274,971 | 4 | % | $ | 32,185,282 | $ | 30,558,081 | $ | 29,897,921 | 12 | % | |||||||||
Network transaction deposits(b) | $ | 1,566,139 | $ | 1,649,389 | (5) | % | $ | 1,600,619 | $ | 1,273,420 | $ | 979,003 | 60 | % | |||||||||
Net deposits and other customer funding(c) | $ | 27,539,051 | $ | 27,274,183 | 1 | % | $ | 26,766,338 | $ | 28,099,096 | $ | 28,377,001 | (3) | % | |||||||||
| Quarter average loan composition | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Commercial and industrial | $ | 9,768,803 | $ | 9,927,271 | (2) | % | $ | 9,831,956 | $ | 9,600,838 | $ | 9,528,180 | 3 | % | |||||||||
| Commercial real estate—owner occupied | 1,051,412 | 1,058,313 | (1) | % | 1,067,381 | 1,015,187 | 1,001,805 | 5 | % | ||||||||||||||
| Commercial and business lending | 10,820,214 | 10,985,584 | (2) | % | 10,899,337 | 10,616,026 | 10,529,984 | 3 | % | ||||||||||||||
| Commercial real estate—investor | 5,156,528 | 5,205,626 | (1) | % | 5,206,430 | 5,093,122 | 5,048,419 | 2 | % | ||||||||||||||
| Real estate construction | 2,241,281 | 2,107,018 | 6 | % | 2,088,937 | 2,158,072 | 2,013,986 | 11 | % | ||||||||||||||
| Commercial real estate lending | 7,397,809 | 7,312,645 | 1 | % | 7,295,367 | 7,251,193 | 7,062,405 | 5 | % | ||||||||||||||
| Total commercial | 18,218,024 | 18,298,229 | — | % | 18,194,703 | 17,867,219 | 17,592,389 | 4 | % | ||||||||||||||
| Residential mortgage | 8,691,258 | 8,807,157 | (1) | % | 8,701,496 | 8,584,528 | 8,443,661 | 3 | % | ||||||||||||||
| Auto finance | 2,138,536 | 1,884,540 | 13 | % | 1,654,523 | 1,490,115 | 1,244,436 | 72 | % | ||||||||||||||
| Home equity | 627,736 | 619,423 | 1 | % | 612,045 | 618,724 | 619,044 | 1 | % | ||||||||||||||
| Other consumer | 276,881 | 275,262 | 1 | % | 275,530 | 285,232 | 295,804 | (6) | % | ||||||||||||||
| Total consumer | 11,734,412 | 11,586,382 | 1 | % | 11,243,594 | 10,978,599 | 10,602,945 | 11 | % | ||||||||||||||
Total loans(d) | $ | 29,952,435 | $ | 29,884,611 | — | % | $ | 29,438,297 | $ | 28,845,818 | $ | 28,195,334 | 6 | % | |||||||||
| Quarter average deposit composition | Dec 31, 2023 | Sep 30, 2023 | Seql Qtr % Change | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Comp Qtr % Change | ||||||||||||||||
| Noninterest-bearing demand | $ | 6,171,240 | $ | 6,318,781 | (2) | % | $ | 6,669,787 | $ | 7,340,219 | $ | 8,088,435 | (24) | % | |||||||||
| Savings | 4,861,913 | 4,814,499 | 1 | % | 4,749,808 | 4,664,624 | 4,660,696 | 4 | % | ||||||||||||||
| Interest-bearing demand | 7,156,151 | 6,979,071 | 3 | % | 6,663,775 | 6,814,487 | 6,831,213 | 5 | % | ||||||||||||||
| Money market | 6,121,105 | 6,294,083 | (3) | % | 6,743,810 | 7,536,393 | 7,382,793 | (17) | % | ||||||||||||||
| Network transaction deposits | 1,616,719 | 1,639,619 | (1) | % | 1,468,006 | 1,147,089 | 901,168 | 79 | % | ||||||||||||||
| Brokered CDs | 3,470,516 | 3,428,711 | 1 | % | 3,001,775 | 810,889 | 190,406 | N/M | |||||||||||||||
| Other time deposits | 2,794,105 | 2,527,030 | 11 | % | 1,984,174 | 1,551,371 | 1,272,797 | 120 | % | ||||||||||||||
| Total deposits | 32,191,750 | 32,001,794 | 1 | % | 31,281,134 | 29,865,072 | 29,327,509 | 10 | % | ||||||||||||||
Other customer funding(a) | 127,252 | 164,289 | (23) | % | 196,051 | 245,349 | 306,122 | (58) | % | ||||||||||||||
| Total deposits and other customer funding | $ | 32,319,002 | $ | 32,166,082 | — | % | $ | 31,477,186 | $ | 30,110,421 | $ | 29,633,631 | 9 | % | |||||||||
Net deposits and other customer funding(c) | $ | 27,231,767 | $ | 27,097,752 | — | % | $ | 27,007,405 | $ | 28,152,443 | $ | 28,542,056 | (5) | % | |||||||||
| Associated Banc-Corp Non-GAAP Financial Measures Reconciliation | YTD | YTD | |||||||||||||||||||||
| ($ in millions, except per share data) | Dec 2023 | Dec 2022 | 4Q23 | 3Q23 | 2Q23 | 1Q23 | 4Q22 | ||||||||||||||||
Selected equity and performance ratios(a)(b)(c) | |||||||||||||||||||||||
| Tangible common equity / tangible assets | 7.11 | % | 6.88 | % | 6.94 | % | 7.03 | % | 6.97 | % | |||||||||||||
| Return on average equity | 4.45 | % | 9.21 | % | (8.74) | % | 7.99 | % | 8.47 | % | 10.32 | % | 10.81 | % | |||||||||
| Return on average tangible common equity | 6.44 | % | 13.77 | % | (13.13) | % | 11.67 | % | 12.38 | % | 15.26 | % | 16.15 | % | |||||||||
| Return on average common equity Tier 1 | 5.51 | % | 12.23 | % | (11.85) | % | 10.08 | % | 10.88 | % | 13.38 | % | 14.04 | % | |||||||||
| Return on average tangible assets | 0.48 | % | 1.05 | % | (0.88) | % | 0.84 | % | 0.90 | % | 1.11 | % | 1.18 | % | |||||||||
| Average stockholders' equity / average assets | 10.11 | % | 10.84 | % | 9.97 | % | 10.06 | % | 10.18 | % | 10.26 | % | 10.40 | % | |||||||||
Tangible common equity reconciliation(a) | |||||||||||||||||||||||
| Common equity | $ | 3,980 | $ | 3,934 | $ | 3,929 | $ | 3,932 | $ | 3,821 | |||||||||||||
| Goodwill and other intangible assets, net | (1,145) | (1,148) | (1,150) | (1,152) | (1,154) | ||||||||||||||||||
| Tangible common equity | $ | 2,834 | $ | 2,786 | $ | 2,779 | $ | 2,779 | $ | 2,667 | |||||||||||||
Tangible assets reconciliation(a) | |||||||||||||||||||||||
| Total assets | $ | 41,016 | $ | 41,637 | $ | 41,219 | $ | 40,703 | $ | 39,406 | |||||||||||||
| Goodwill and other intangible assets, net | (1,145) | (1,148) | (1,150) | (1,152) | (1,154) | ||||||||||||||||||
| Tangible assets | $ | 39,870 | $ | 40,490 | $ | 40,070 | $ | 39,550 | $ | 38,251 | |||||||||||||
Average tangible common equity and average common equity Tier 1 reconciliation(a) | |||||||||||||||||||||||
| Common equity | $ | 3,917 | $ | 3,782 | $ | 3,926 | $ | 3,938 | $ | 3,935 | $ | 3,868 | $ | 3,798 | |||||||||
| Goodwill and other intangible assets, net | (1,150) | (1,159) | (1,147) | (1,149) | (1,151) | (1,153) | (1,155) | ||||||||||||||||
| Tangible common equity | 2,767 | 2,623 | 2,780 | 2,789 | 2,784 | 2,715 | 2,642 | ||||||||||||||||
| Modified CECL transitional amount | 45 | 67 | 45 | 45 | 45 | 45 | 67 | ||||||||||||||||
| Accumulated other comprehensive loss | 275 | 174 | 286 | 302 | 252 | 259 | 254 | ||||||||||||||||
| Deferred tax assets, net | 28 | 34 | 27 | 28 | 28 | 28 | 29 | ||||||||||||||||
| Average common equity Tier 1 | $ | 3,114 | $ | 2,899 | $ | 3,138 | $ | 3,164 | $ | 3,108 | $ | 3,047 | $ | 2,993 | |||||||||
Average tangible assets reconciliation(a) | |||||||||||||||||||||||
| Total assets | $ | 40,649 | $ | 36,658 | $ | 41,331 | $ | 41,076 | $ | 40,558 | $ | 39,607 | $ | 38,385 | |||||||||
| Goodwill and other intangible assets, net | (1,150) | (1,159) | (1,147) | (1,149) | (1,151) | (1,153) | (1,155) | ||||||||||||||||
| Tangible assets | $ | 39,499 | $ | 35,499 | $ | 40,184 | $ | 39,927 | $ | 39,407 | $ | 38,454 | $ | 37,230 | |||||||||
Adjusted net income reconciliation(b) | |||||||||||||||||||||||
| Net income | $ | 183 | $ | 366 | $ | (91) | $ | 83 | $ | 87 | $ | 103 | $ | 109 | |||||||||
| Other intangible amortization, net of tax | 7 | 7 | 2 | 2 | 2 | 2 | 2 | ||||||||||||||||
| Adjusted net income | $ | 190 | $ | 373 | $ | (89) | $ | 85 | $ | 89 | $ | 105 | $ | 110 | |||||||||
Adjusted net income available to common equity reconciliation(b) | |||||||||||||||||||||||
| Net income available to common equity | $ | 171 | $ | 355 | $ | (94) | $ | 80 | $ | 84 | $ | 100 | $ | 106 | |||||||||
| Other intangible amortization, net of tax | 7 | 7 | 2 | 2 | 2 | 2 | 2 | ||||||||||||||||
| Adjusted net income available to common equity | $ | 178 | $ | 361 | $ | (92) | $ | 82 | $ | 86 | $ | 102 | $ | 108 | |||||||||
Selected trend information(d) | |||||||||||||||||||||||
| Wealth management fees | $ | 83 | $ | 84 | $ | 21 | $ | 21 | $ | 20 | $ | 20 | $ | 20 | |||||||||
| Service charges and deposit account fees | 49 | 62 | 11 | 13 | 12 | 13 | 14 | ||||||||||||||||
| Card-based fees | 45 | 44 | 12 | 12 | 11 | 11 | 11 | ||||||||||||||||
| Other fee-based revenue | 17 | 16 | 4 | 5 | 4 | 4 | 3 | ||||||||||||||||
| Fee-based revenue | 194 | 206 | 47 | 50 | 49 | 48 | 49 | ||||||||||||||||
| Other | (131) | 76 | (178) | 17 | 17 | 14 | 13 | ||||||||||||||||
| Total noninterest income | $ | 63 | $ | 282 | $ | (131) | $ | 67 | $ | 66 | $ | 62 | $ | 62 | |||||||||
Pre-tax pre-provision income(e) | |||||||||||||||||||||||
| Income before income taxes | $ | 206 | $ | 460 | $ | (138) | $ | 103 | $ | 111 | $ | 131 | $ | 134 | |||||||||
| Provision for credit losses | 83 | 33 | 21 | 22 | 22 | 18 | 20 | ||||||||||||||||
| Pre-tax pre-provision income | $ | 289 | $ | 493 | $ | (117) | $ | 125 | $ | 133 | $ | 149 | $ | 154 | |||||||||
| End of period core customer deposits reconciliation | |||||||||||||||||||||||
| Total deposits | $ | 33,446 | $ | 32,123 | $ | 32,014 | $ | 30,332 | $ | 29,636 | |||||||||||||
| Network transaction deposits | (1,566) | (1,649) | (1,601) | (1,273) | (979) | ||||||||||||||||||
| Brokered CDs | (4,447) | (3,351) | (3,818) | (1,186) | (542) | ||||||||||||||||||
| Core customer deposits | $ | 27,432 | $ | 27,123 | $ | 26,595 | $ | 27,873 | $ | 28,115 | |||||||||||||
| Associated Banc-Corp Non-GAAP Financial Measures Reconciliation | YTD | YTD | |||||||||||||||||||||
| ($ in millions, except per share data) | Dec 2023 | Dec 2022 | 4Q23 | 3Q23 | 2Q23 | 1Q23 | 4Q22 | ||||||||||||||||
Efficiency ratio reconciliation(a) | |||||||||||||||||||||||
| Federal Reserve efficiency ratio | 69.70 | % | 60.36 | % | 132.01 | % | 60.06 | % | 58.49 | % | 56.07 | % | 55.47 | % | |||||||||
| Fully tax-equivalent adjustment | (1.13) | % | (0.92) | % | (3.29) | % | (0.89) | % | (0.85) | % | (0.79) | % | (0.77) | % | |||||||||
| Other intangible amortization | (0.76) | % | (0.71) | % | (1.21) | % | (0.69) | % | (0.68) | % | (0.66) | % | (0.62) | % | |||||||||
| Fully tax-equivalent efficiency ratio | 67.82 | % | 58.74 | % | 127.54 | % | 58.50 | % | 56.96 | % | 54.64 | % | 54.08 | % | |||||||||
| FDIC special assessment | (2.32) | % | — | % | (9.50) | % | — | % | — | % | — | % | — | % | |||||||||
Announced initiatives(b) | (7.02) | % | (0.10) | % | (53.92) | % | — | % | — | % | — | % | — | % | |||||||||
| Adjusted efficiency ratio | 58.48 | % | 58.65 | % | 64.12 | % | 58.50 | % | 56.96 | % | 54.64 | % | 54.08 | % | |||||||||
| One Time Item Reconciliation | YTD | YTD | |||||||||||||||
| ($ in millions, except per share data) | Dec 2023 | Dec 2023 per share data (diluted) | 4Q23 | 4Q23 per share data (diluted) | |||||||||||||
| GAAP net income (loss) | $ | 183 | $ | 1.13 | $ | (91) | $ | (0.62) | |||||||||
Loss on mortgage portfolio sale, net(b)(c) | 133 | 0.87 | 133 | 0.87 | |||||||||||||
Net loss on sale of investments(b) | 65 | 0.43 | 65 | 0.43 | |||||||||||||
| FDIC special assessment | 31 | 0.20 | 31 | 0.20 | |||||||||||||
| Tax effect | (55) | (0.36) | (55) | (0.36) | |||||||||||||
| Net income, excluding one time items, net of tax | 357 | $ | 2.27 | 83 | $ | 0.53 | |||||||||||
| Less preferred stock dividends | (12) | (3) | |||||||||||||||
| Net income available to common equity, excluding one time items, net of tax | $ | 345 | $ | 80 | |||||||||||||
| One Time Item Noninterest Income Reconciliation | YTD | ||||||||||
| ($ in millions, except per share data) | Dec 2023 | 4Q23 | |||||||||
| GAAP noninterest income | $ | 63 | $ | (131) | |||||||
Loss on mortgage portfolio sale(b) | 136 | 136 | |||||||||
Net loss on sale of investments(b) | 65 | 65 | |||||||||
| Noninterest income, excluding one time items | $ | 264 | $ | 70 | |||||||
| One Time Item Noninterest Expense Reconciliation | YTD | ||||||||||
| ($ in millions, except per share data) | Dec 2023 | 4Q23 | |||||||||
| GAAP noninterest expense | $ | 814 | $ | 239 | |||||||
| FDIC special assessment | (31) | (31) | |||||||||
| Noninterest expense, excluding one time items | $ | 783 | $ | 209 | |||||||