secwatch.observer — SEC 8-K summary
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Issuer:     ASSOCIATED BANC-CORP (ASB)
CIK:        0000007789
Form:       8-K
Filed at:   2024-12-04T23:59:59+00:00
Accession:  0001104659-24-125536
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Associated Banc-Corp repositioning: sells $1.3B securities, $0.7B mortgage loans; expects $253M after-tax Q4 loss
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- Sold ~$1.3B of AFS securities (avg yield 1.87%) and reinvested ~$1.5B into higher-yielding securities (avg yield 5.08%, ~4yr duration).
- Agreed to sell ~$0.7B low-yielding mortgage loans (avg yield 2.99%), expected close Q1 2025; proceeds to repay $0.6B FHLB advances.
- Expects after-tax loss of ~$253M from repositioning, causing a net loss for Q4 2024; transaction adds ~$15.8M quarterly NII pro forma.
- Pro forma NIM improves 19bps to 2.97%, CET1 ratio +39bps to 10.11%, ROATCE +83bps to 12.35% (based on 3Q24).
- Common stock offering in Nov 2024 raised ~$330.7M (13.8M shares at $25.00) to bolster capital and support organic growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/7789/000110465924125536/0001104659-24-125536-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/7789/000110465924125536/tm2430097d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-125536

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer