NYSE$ASB
Associated Banc-Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Associated Bank reported a net loss for Q4 2023 due to one-time items related to balance sheet repositioning, while full-year earnings were impacted by increased provision for credit losses.
Associated Banc-Corp reported a net loss of $94 million, or $(0.62) per common share, for the quarter ended December 31, 2023. The loss was primarily driven by one-time items associated with the balance sheet repositioning. Full year 2023 earnings were $1.13 per common share.
- End of period total loans of $29.2 billion decreased 3% from the prior quarter, driven primarily by a sale of $969 million in residential mortgages.
- End of period deposits of $33.4 billion were up 4% from the prior quarter.
- Net interest income of $253 million decreased $1 million from the prior quarter.
- Noninterest income of negative $131 million decreased $198 million from the prior quarter and decreased $193 million from the same period last year.
Headline financials
Revenue & EPS history
Associated Bank · Revenue · Quarterly
$259M
Revenue by segment
Associated Bank · $9.67M total across 1 segment · Q4 2021
- Capital Markets$9.67M+64.0%100.0%
Forward guidance
Associated Banc-Corp anticipates several financial outcomes for 2024, including loan and deposit growth, net interest income increase, and adjustments to noninterest income and expenses.
Tailwinds
- Total loan growth of 4% to 6% on an end of period basis.
- Core customer deposit growth of 3% to 5% on an end of period basis.
- Total net interest income growth of 2% to 4%.
- Annual effective tax rate to be between 19% and 21%.
- Adjust provision to reflect changes to risk grades, economic conditions, loan volumes, and other indications of credit quality.
Headwinds
- Total noninterest income to decrease by 0% to 2% after adjusting to exclude the impact of one time items.
- Total noninterest expense to grow by 2% to 3% after adjusting to exclude the impact of the FDIC special assessment.
- Expects to adjust provision to reflect changes to risk grades.
- Uncertain economic conditions.
- Noninterest income one time items include a $136 million loss on a mortgage portfolio sale and $65 million in investment securities losses.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.4%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+2.0%
Avg return
30 days after
52%
36 / 69 earnings
Positive
+9.5%
Q1 2018
Best reaction
-9.1%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | -1.0% | -1.2% | |
| Q4 2025 | -3.9% | -2.4% | +4.0% | |
| Q3 2025 | +0.7% | -2.0% | +1.2% | |
| Q2 2025 | -2.4% | -0.5% | +3.1% | |
| Q1 2025 | +1.4% | +0.2% | +4.5% | |
| Q4 2024 | -0.8% | -2.4% | -3.5% | |
| Q3 2024 | +2.0% | +4.9% | +21.6% | |
| Q2 2024 | +3.5% | +0.2% | -2.6% | |
| Q1 2024 | +1.1% | -1.3% | -0.5% | |
| Q4 2023 | -1.0% | +0.0% | -5.6% | |
| Q3 2023 | -6.1% | -6.2% | +10.3% | |
| Q2 2023 | -2.0% | -3.0% | -6.5% | |
| Q1 2023 | -3.0% | -8.1% | -17.6% | |
| Q4 2022 | -0.9% | +1.1% | +6.4% | |
| Q3 2022 | +2.6% | +6.8% | +9.3% | |
| Q2 2022 | +2.7% | +3.7% | +13.1% | |
| Q1 2022 | -5.9% | -9.5% | -12.8% | |
| Q4 2021 | -0.1% | +0.2% | +2.2% | |
| Q3 2021 | -1.2% | +0.2% | +1.5% | |
| Q2 2021 | +0.0% | -0.6% | +6.7% | |
| Q1 2021 | +0.6% | +2.9% | +9.0% | |
| Q4 2020 | -2.9% | -5.3% | -1.5% | |
| Q3 2020 | +3.8% | -1.2% | +13.7% | |
| Q2 2020 | +3.4% | -1.1% | -0.8% | |
| Q1 2020 | +8.2% | +14.4% | +10.9% | |
| Q4 2019 | -1.3% | -2.5% | -5.1% | |
| Q3 2019 | -2.0% | -0.8% | +4.8% | |
| Q2 2019 | +0.8% | +1.4% | -11.7% | |
| Q1 2019 | -0.3% | +1.3% | -5.7% | |
| Q4 2018 | +3.5% | +4.3% | +11.1% | |
| Q3 2018 | -9.1% | -10.3% | -8.2% | |
| Q2 2018 | -1.6% | -1.6% | -3.7% | |
| Q1 2018 | +9.5% | +9.9% | +11.4% | |
| Q4 2017 | -1.6% | -2.7% | -1.6% | |
| Q3 2017 | +6.1% | +5.1% | +0.2% | |
| Q2 2017 | -5.1% | -3.7% | -11.4% | |
| Q1 2017 | +4.8% | +6.3% | +2.1% | |
| Q4 2016 | +1.9% | +4.1% | +7.8% | |
| Q3 2016 | -0.5% | +0.0% | +16.6% | |
| Q2 2016 | +2.8% | +3.8% | +9.8% | |
| Q1 2016 | -0.3% | — | — | |
| Q4 2015 | -0.9% | — | — | |
| Q3 2015 | +2.8% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | +2.5% | — | — | |
| Q3 2014 | +1.1% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | +0.6% | — | — | |
| Q2 2013 | -0.7% | — | — | |
| Q1 2013 | +3.6% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2012 | +0.5% | — | — | |
| Q2 2012 | +2.8% | — | — | |
| Q1 2012 | -0.1% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2011 | -1.6% | — | — | |
| Q2 2011 | -5.1% | — | — | |
| Q1 2010 | -0.9% | — | — | |
| Q1 2011 | +2.7% | — | — | |
| Q4 2008 | +0.5% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q4 2009 | +0.5% | — | — | |
| Q3 2009 | +5.6% | — | — | |
| Q3 2010 | +5.6% | — | — | |
| Q2 2009 | +1.0% | — | — | |
| Q2 2010 | +1.0% | — | — |
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