The company also exited the third-party originated (TPO) mortgage lending business in the first quarter of 2023.
Hence, ASB’s loan balance surged 28% in the third quarter of 2023 to $30.2 billion from level. In this phase, the company focused on enhancing its lending and deposit-gathering capabilities and invested heavily in digital transformation. Further, in an effort to enhance liquidity and wholesale funding capacity, the company will report a net loss in the ongoing quarter because of a balance sheet repositioning transaction.īefore we go into details and long-term benefits from the second phase, let’s see how Associated Banc-Corp has fared in terms of the first phase of the strategic plan, which was announced in September 2021. As noted during the third-quarter 2023 earnings conference call, Associated Banc-Corp ( ASB Quick Quote ASB - Free Report) has come up with the second phase of its strategic plan.
