Associated Banc-Corp (NYSE:ASB) Q3 2023 Earnings Call Transcript October 19, 2023 5:00 PM ET

Company Participants

Andy Harmening - President and CEO

Derek Meyer - CFO

Pat Ahern - Chief Credit Officer

Conference Call Participants

Daniel Tamayo - Raymond James

Jon Arfstrom - RBC Capital Markets

Scott Siefers - Piper Sandler

Terry McEvoy - Stephens

Timur Braziler - Wells Fargo

Chris McGratty - KBW

Brody Preston - UBS

Operator

Good afternoon, everyone, and welcome to Associate Banc-Corp's Third Quarter 2023 Earnings Conference Call. My name is Alicia, and I'll be your operator today. At this time, all participants are in a listen-only mode. We will be conducting a question-and-answer session at the end of this conference. Copies of the slides that will be referenced during today's call are available on the company's website at investors.associatedbank.com. As a reminder, this conference is being recorded.

As outlined on Slide 1, during the course of the discussion today, management may make statements that constitute projections, expectations, beliefs, or similar forward-looking statements. Associated's actual results could differ materially from the results anticipated or projected in any such forward-looking statements. Additional detailed information concerning the important factors that could cause the Associated’s actual results to differ materially from the information discussed today is readily available on the SEC website in the risk factor sections of Associated’s most recent Form 10-K and subsequent SEC filings. These factors are incorporated herein by reference.

For reconciliation of the non-GAAP financial measures to the GAAP financial measures mentioned in the conference call, please refer to pages 23 and 24 of the slide presentation and to Page 10 of the press release financial tables. Following today's presentation, instructions will be given for the question-and-answer session.

At this time, I would like to turn the conference over to Andy Harmening, President and CEO, for opening remarks. Please go ahead, sir.

Andy Harmening

Well, good afternoon, and welcome to our third quarter earnings call. I'm Andy Harmening. I am joined once again by Derek Meyer, our Chief Financial Officer, and Pat Ahern, our Chief Credit Officer. I will start today by sharing some highlights for the quarter. From there, Derek will provide an update on margin, income, capital trends, and then Pat will share an update on credit.

Now I mentioned back in July that we were starting to see renewed stability after a volatile spring, and what we saw here at Associated in the third quarter was a definitive continuation of those stabilizing trends. Employment trends remain very strong in our footprint with most Midwestern states seeing unemployment below the national average, and Wisconsin coming in below 3%.