Associated Banc-Corp Repositions Balance Sheet, to Incur a Loss in Q4 [Yahoo! Finance]
Associated Banc-Corp (ASB)
NASDAQ:AMEX Investor Relations:
investor.associatedbank.com
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Source: Yahoo! Finance
While the transactions will result in a net loss in fourth-quarter 2024 for the company, the strategy is focused on long-term growth and profitability. President and CEO Andy Harmening said, “This balance sheet repositioning supports and accelerates our organic strategy by enhancing our earnings profile, boosting capital, and providing additional capacity for loan growth.” As part of the balance sheet repositioning strategy, Associated Banc-Corp sold approximately $1.3 billion of investment securities (yielded 1.87% on average) and intends to sell $0.7 billion of low-yielding mortgage loans, primarily from single-product relationships. The sale of mortgage loans is expected to close in the first quarter of 2025. The balance sheet repositioning transactions are expected to result in a post-tax loss of $253 million. ASB reinvested the proceeds from the sale of investment securities in almost $1.5 billion of higher-yielding securities. These securities will yield 5.08% on average
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ASB
News
- Associated Bank Welcomes Four Additional Relationship Managers to Support Ongoing Commercial Banking Expansion [Yahoo! Finance]Yahoo! Finance
- Associated Bank Welcomes Four Additional Relationship Managers to Support Ongoing Commercial Banking ExpansionPR Newswire
- Associated Banc-Corp (NYSE: ASB) had its price target raised by analysts at Barclays PLC from $27.00 to $28.00. They now have an "equal weight" rating on the stock.MarketBeat
- Associated Banc-Corp Decreases Prime Rate [Yahoo! Finance]Yahoo! Finance
- Associated Banc-Corp Decreases Prime RatePR Newswire
ASB
Earnings
- 10/24/24 - Beat
ASB
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- ASB's page on the SEC website