private tech based lenders were cautiously optimistic that hiccups from earlier this year were behind the sector, while the private payments companies stressed the importance of partnering with incumbent leaders and the need to maintain safety standards. US Banks Top Takeaways Associated Bancorp (ASB) B-3-7, Underperform = A strong Midwest market should lead to steady growth: ASB’s CEO Phillip Flynn and CFO Chris Niles highlighted the strong fundamentals of the bank’s Midwest footprint with its low unemployment and a strong manufacturing base. While commenting on the potential for relief coming out of DC under the new Trump administration, management noted that shortage of skilled workers was probably the biggest issue impeding businesses in its footprint versus higher taxes or an overly stringent regulatory environment. = CRE represents a growth opportunity: Management was positive on growth prospects within the CRE loan portfolio, which represents 24% of avg loans as of 3Q16. Management is targeting CRE to represent 30-40% of the portfolio in order for consumer, CRE, and commercial to each comprise approximately a third of the loan book. In the near term, executives see opportunities in the CRE space in 2017 as pricing and structure improve benefitting from a pullback by lenders with high CRE concentration. = Energy portfolio should begin to stabilize: While management analyzes the energy book on a credit by credit basis, it noted caution if oil prices fell significantly. However, management noted that the energy book reflects lower energy prices as new energy loans price in lower hydrocarbon pricing vs. the maturing loans. Regarding energy loan growth, management expects muted growth going forward as the benefit from new loans will most likely be offset by continued pay-downs by existing customers. = Dec rate hike to surface in 1Q17 margin: Management expects a Dec rate hike to have little impact on 4Q given that its LIBOR based portfolio would re-price o