Associated Banc-corp (ASB) has disclosed a new risk, in the Costs category.
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Associated Banc-corp may face significant financial challenges due to adjustments in FDIC insurance assessments. The FDIC’s final rule, which mandates special assessments to recover losses linked to the failures of SVB and SBNY, involves an assessment base calculated from uninsured deposits as of December 31, 2022. With the FDIC imposing an annual rate of 13.4 bp on a base of $11.4 billion, the financial burden on the bank could adversely impact its operations and financial health. As these special assessments persist, the bank’s ability to adapt to these increased costs will be crucial in maintaining its financial stability.
Overall, Wall Street has a Hold consensus rating on ASB stock based on 7 Holds.
To learn more about Associated Banc-corp’s risk factors, click here.
