ASSOCIATED BANC-CORP Goodwill & Intangibles Disclosure
| (in thousands) | 2025 | 2024 | 2023 | ||||||||
| Core deposit intangibles | |||||||||||
| Gross carrying amount at the beginning of the year | $ | 88,109 | $ | 88,109 | $ | 88,109 | |||||
| Accumulated amortization | (65,260) | (56,449) | (47,638) | ||||||||
| Net book value | $ | 22,849 | $ | 31,660 | $ | 40,471 | |||||
| Amortization during the year | $ | 8,811 | $ | 8,811 | $ | 8,811 | |||||
| (in thousands) | 2025 | 2024 | ||||||
| Mortgage servicing rights | ||||||||
| Mortgage servicing rights at beginning of period | $ | 87,683 | $ | 84,390 | ||||
| Additions | 8,716 | 6,707 | ||||||
| Decay | (8,621) | (8,060) | ||||||
| Valuation: | ||||||||
| Changes in fair value of asset | (1,441) | 4,646 | ||||||
| Mortgage servicing rights at end of period | $ | 86,337 | $ | 87,683 | ||||
| Portfolio of residential mortgage loans serviced for others (“servicing portfolio”) | $ | 6,191,012 | $ | 6,285,018 | ||||
| Mortgage servicing rights to servicing portfolio | 1.39 | % | 1.40 | % | ||||
| (in thousands) | Core Deposit Intangibles | Mortgage Servicing Rights | ||||||
| 2026 | $ | 8,811 | $ | 10,559 | ||||
| 2027 | 8,811 | 11,814 | ||||||
| 2028 | 3,485 | 11,616 | ||||||
| 2029 | 1,681 | 10,645 | ||||||
| 2030 | 61 | 9,440 | ||||||
| Beyond 2030 | — | 32,263 | ||||||
Total estimated amortization expense and MSRs decay(a) | $ | 22,849 | $ | 86,337 | ||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 12, 2025 | |
| 2023 | Feb 8, 2024 | |
| 2022 | Feb 13, 2023 | |
| 2021 | Feb 8, 2022 | |
| 2020 | Feb 9, 2021 | |
| 2019 | Feb 11, 2020 | |
| 2018 | Feb 19, 2019 | |
| 2017 | Feb 6, 2018 | |
| 2016 | Feb 6, 2017 | |
| 2015 | Feb 5, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.