The following is a summary of the Associated Banc-Corp (ASB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Associated Banc-Corp reported Q1 2024 earnings of $0.52 per share, showing a robust core earnings profile.

• Net Interest Income saw a 2% increase, totaling $258 million.

• A decrease in Loan balances was observed on a quarterly average basis due to a significant mortgage loan sale, but there was a $278 million increase on a period-end basis.

• Non-interest income was at $65 million, up $3 million from the same period last year, primarily coming from service charges and deposit account fees.

Business Progress:

• The firm's focus on customer acquisition and enhancing returns led to positive household growth across the bank.

• Recognition for improved customer experience was seen as the firm was named number one for retail banking satisfaction in the Upper Midwest by J.D. Power.

• Notable investments were made in enhancing digital experiences for customers and enhancing the firm's product offerings.

• Phase 2 of their strategic plan is progressing well, with major hires and product launches finalized.

• The firm keeps a close eye on credit risk based on macroeconomic factors like ongoing inflation and labor cost pressures.

• For 2024, the bank aims to maintain its core customer deposit growth of 3% to 5%.

More details: Associated Banc IR

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