Stock Track | Associated Banc-Corp Soars 18.48% in Pre-Market on Strong Q4 Earnings and Robust Loan Growth

Stock Track

Jan 24, 2025

Associated Banc-Corp (ASB) shares surged 18.48% in the pre-market trading session on Friday, following the bank's impressive fourth-quarter 2024 earnings report and solid loan growth.

The key highlights driving the stock's rally include:

Adjusted earnings per share of $0.57 for Q4 2024, beating analysts' estimates and reflecting the strength of its core businesses.
Significant growth in core customer deposits, nearly $900 million, and robust adjusted loan growth of over $500 million in Q4 2024.
Net interest income increased by $8 million from the previous quarter to $270 million, with net interest margin expanding to 2.81%.
Strong performance in commercial and business lending segments, contributing over $300 million to total loan growth.

According to Andrew Harmening, CEO of Associated Banc-Corp, the company's positive results are driven by the successful hiring of high-quality relationship managers and their ramped-up production, particularly in the commercial and industrial (C&I) and asset-based lending businesses. Additionally, improved customer satisfaction scores and household growth have directly impacted deposit growth.

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