Results fueled by sustained organic growth trends, ongoing integration of American National Corporation.
GREEN BAY, Wis., July 23, 2026 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income available to common equity ("earnings") of $121 million, or $0.63 per common share, for the quarter ended June 30, 2026. These amounts compare to earnings of $117 million, or $0.70 per common share, for the quarter ended March 31, 2026 and earnings of $108 million, or $0.65 per common share, for the quarter ended June 30, 2025.
The Company's results for the quarter ended June 30, 2026 were impacted by several nonrecurring expenses associated with the acquisition of American National Corporation that closed on April 1, 2026. Excluding the impact of these nonrecurring items, the Company reported adjusted earnings of $140 million, or $0.73 per common share(1) .
"Organic growth continues to be a primary focus for our company, and midway through 2026, we've maintained our momentum in several important ways," said President & CEO Andy Harmening. "Through June 30th, we've seen double-digit C&I growth, excellent household growth, and strong, improving annual deposit growth--all while maintaining our disciplined approach to expense management and credit. We've also been pleased with the American National partnership, which has largely come in as expected."
"As we look to the back half of 2026 and into 2027, we expect to maintain our growth trajectory through steady execution of organic initiatives and the successful integration of American National Corporation. We look forward to demonstrating our ability to deliver profitable growth sustainably over time."
Second Quarter 2026 Highlights
-- Total period end loans of $36.5 billion (+15% vs. 1Q 2026; +19% vs. 2Q
2025)
-- Total period end commercial & industrial loans of $13.8 billion (+11% vs.
1Q 2026; +22% vs. 2Q 2025)
-- Total period end deposits of $39.9 billion (+12% vs. 1Q 2026; +17% vs. 2Q
2025)
-- Total period end core customer deposits1 of $34.2 billion (+12% vs. 1Q
2026; +21% vs. 2Q 2025)
-- Net interest income of $370 million (+20% vs. 1Q 2026; +23% vs. 2Q 2025)
-- Net interest margin of 3.17%
-- Noninterest income of $80 million
-- Noninterest expense of $272 million
-- Provision for credit losses of $19 million
-- Allowance for credit losses on loans / total loans of 1.36%
-- Net charge offs / average loans (annualized) of 0.26%
(1) This is a non-GAAP financial measure. See financial tables for a
reconciliation of non-GAAP financial measures to GAAP financial measures.
Loans
Second quarter 2026 average total loans of $35.9 billion increased 15%, or $4.6 billion, from the prior quarter and increased 18%, or $5.4 billion, from the same period last year. With respect to second quarter 2026 average balances by loan category:
-- Commercial and business lending increased $1.8 billion from the prior
quarter and increased $2.7 billion from the same period last year to
$14.8 billion.
-- Commercial real estate lending increased $1.6 billion from the prior
quarter and increased $1.5 billion from the same period last year to $8.9
billion.
-- Consumer lending increased $1.2 billion from the prior quarter and
increased $1.2 billion from the same period last year to $12.2 billion.
Second quarter 2026 period end total loans of $36.5 billion increased 15%, or $4.7 billion, from the prior quarter and increased 19%, or $5.9 billion, from the same period last year. With respect to second quarter 2026 period end balances by loan category:
-- Commercial and business lending increased $1.8 billion from the prior
quarter and increased $2.9 billion from the same period last year to
$15.3 billion.
-- Commercial real estate lending increased $1.7 billion from the prior
quarter and increased $1.7 billion from the same period last year to $9.0
billion.
-- Consumer lending increased $1.2 billion from the prior quarter and
increased $1.2 billion from the same period last year to $12.1 billion.
We now expect 2026 period end loan growth of 18% to 20% as compared to Associated's standalone results for the year ended December 31, 2025.
Deposits
Second quarter 2026 average deposits of $40.4 billion increased 15%, or $5.2 billion, from the prior quarter and increased 18%, or $6.2 billion, from the same period last year. With respect to second quarter 2026 average balances by deposit category:
-- Noninterest-bearing demand deposits increased $1.1 billion from the prior
quarter and increased $1.4 billion from the same period last year to $7.1
billion.
-- Savings increased $514 million from the prior quarter and increased $824
million from the same period last year to $6.0 billion.
-- Interest-bearing demand deposits increased $834 million from the prior
quarter and increased $1.0 billion from the same period last year to $8.7
billion.
-- Money market deposits increased $1.6 billion from the prior quarter and
increased $1.7 billion from the same period last year to $7.6 billion.
-- Brokered CDs increased $558 million from the prior quarter and decreased
$4 million from the same period last year to $4.1 billion.
-- Other time deposits increased $711 million from the prior quarter and
increased $1.2 billion from the same period last year to $4.9 billion.
-- Network transaction deposits decreased $38 million from the prior quarter
and increased $36 million from the same period last year to $1.9 billion.
-- Core customer deposits[1] increased $4.7 billion from the prior quarter
and increased $6.1 billion from the same period last year to $34.4
billion.
Second quarter 2026 period end deposits of $39.9 billion increased 12%, or $4.2 billion, from the prior quarter and increased 17%, or $5.8 billion, from the same period last year. With respect to second quarter 2026 period end balances by deposit category:
-- Noninterest-bearing demand deposits increased $783 million from the prior
quarter and increased $1.1 billion from the same period last year to $6.9
billion.
-- Savings increased $511 million from the prior quarter and increased $880
million from the same period last year to $6.2 billion.
-- Interest-bearing demand deposits increased $733 million from the prior
quarter and increased $1.2 billion from the same period last year to $8.7
billion.
-- Money market deposits increased $1.4 billion from the prior quarter and
increased $1.7 billion from the same period last year to $7.6 billion.
-- Brokered CDs increased $371 million from the prior quarter and decreased
$138 million from the same period last year to $3.9 billion.
-- Other time deposits increased $298 million from the prior quarter and
increased $980 million from the same period last year to $4.8 billion.
-- Network transaction deposits increased $77 million from the prior quarter
and increased $31 million from the same period last year to $1.8 billion.
-- Core customer deposits1 increased $3.8 billion from the prior quarter and
increased $5.9 billion from the same period last year to $34.2 billion.
(1) This is a non-GAAP financial measure. See financial tables for a
reconciliation of non-GAAP financial measures to GAAP financial measures.
We continue to expect 2026 period end total deposit growth of 17% to 19% and period end core customer deposit growth of 19% to 21% as compared to Associated's standalone results for the year ended December 31, 2025.
Net Interest Income and Net Interest Margin
Second quarter 2026 net interest income of $370 million increased $63 million from the prior quarter and increased $70 million from the same period last year. The net interest margin of 3.17% was a 14 basis point increase from the prior quarter and a 13 basis point increase from the same period last year.
-- The average yield on total loans for the second quarter of 2026 increased
14 basis points from the prior quarter and decreased 22 basis points from
the same period last year to 5.67%.
-- The average cost of total interest-bearing liabilities for the second
quarter of 2026 decreased 1 basis point from the prior quarter and
decreased 36 basis points from the same period last year to 2.66%.
-- The net free funds benefit for the second quarter of 2026 increased 2
basis points from the prior quarter and decreased 4 basis points from the
same period last year to 0.52%.
We expect 2026 net interest income growth of 19% to 21% as compared to Associated's standalone results for the year ended December 31, 2025.
Noninterest Income
Second quarter 2026 total noninterest income of $80 million increased $5 million from the prior quarter and increased $13 million from the same period last year. With respect to second quarter 2026 noninterest income line items:
-- Card-based fees increased $3 million from the prior quarter and increased
$3 million from the same period last year.
-- Service charges and deposit account fees increased $2 million from the
prior quarter and increased $3 million from the same period last year.
-- Capital markets, net increased $1 million from the prior quarter and
increased $2 million from the same period last year.
-- Wealth management fees increased $1 million from the prior quarter and
increased $3 million from the same period last year.
-- Mortgage banking, net decreased $3 million from the prior quarter and
decreased $1 million from the same period last year.
We continue to expect total noninterest income growth of 8% to 10% in 2026 as compared to Associated's standalone results for the year ended December 31, 2025.
Noninterest Expense
Second quarter 2026 total noninterest expense of $272 million increased $53 million from the prior quarter and increased $63 million from the same period last year. Second quarter 2026 total noninterest expense included $24 million of nonrecurring costs associated with the acquisition of American National Corporation, which closed on April 1, 2026. With respect to second quarter 2026 noninterest expense line items:
-- Personnel expense increased $26 million from the prior quarter and
increased $34 million from the same period last year.
-- Legal and professional expense increased $11 million from the prior
quarter and increased $11 million from the same period last year.
-- Other intangible amortization increased $5 million from the prior quarter
and increased $5 million from the same period last year.
-- Technology expense increased $3 million from the prior quarter and
increased $6 million from the same period last year.
We expect 2026 noninterest expense growth of 20% to 21% as compared to Associated's standalone results for the year ended December 31, 2025. This figure includes nonrecurring costs incurred in connection with the acquisition of American National Corporation.
Taxes
Second quarter 2026 income tax expense was $36 million, compared to $33 million of income tax expense in the prior quarter and $28 million of income tax expense in the same period last year. The effective tax rate for the second quarter of 2026 was 22.37%, compared to 21.75% in the prior quarter and 20.34% in the same period last year.
We continue to expect the annual effective tax rate to be between 19% and 21% in 2026.
Credit
Second quarter 2026 provision for credit losses on loans was $19 million, compared to a provision of $11 million in the prior quarter and a provision of $18 million in the same period last year. With respect to second quarter 2026 credit quality:
-- Nonaccrual loans of $150 million increased $39 million from the prior
quarter and increased $37 million from the same period last year. The
nonaccrual loans to total loans ratio was 0.41% in the second quarter, up
from 0.35% in the prior quarter and up from 0.37% in the same period last
year.
-- Second quarter 2026 net charge offs of $23 million increased compared to
net charge offs of $5 million in the prior quarter and increased compared
to net charge offs of $13 million in the same period last year.
-- The allowance for credit losses on loans $(ACLL)$ of $494 million increased
$69 million compared to the prior quarter and increased $83 million
compared to the same period last year. The ACLL to total loans ratio was
1.36% in the second quarter, up from 1.34% in the prior quarter and up
from 1.35% in the same period last year.
In 2026, we continue to expect to adjust provision to reflect changes to risk grades, economic conditions, loan volumes, and other indications of credit quality.
Capital
The Company's capital position remains strong, with a CET1 capital ratio of 10.47% at June 30, 2026. The Company's capital ratios continue to be in excess of the Basel III "well-capitalized" regulatory benchmarks on a fully phased in basis.
SECOND QUARTER 2026 EARNINGS RELEASE CONFERENCE CALL
The Company will host a conference call for investors and analysts at 4:00 p.m. Central Time (CT) today, July 23, 2026. Interested parties can access the live webcast of the call through the Investor Relations section of the Company's website, http://investor.associatedbank.com. Parties may also dial into the call at 877-407-8037 (domestic) or 201-689-8037 (international) and request the Associated Banc-Corp second quarter 2026 earnings call. The second quarter 2026 financial tables with an accompanying slide presentation will be available on the Company's website just prior to the call. An audio archive of the webcast will be available on the Company's website approximately fifteen minutes after the call is over.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $52 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations throughout Wisconsin, Illinois, Iowa, Minnesota, Missouri and Nebraska. The Company also operates loan production offices in Indiana, Kansas, Michigan, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.
FORWARD-LOOKING STATEMENTS
Statements made in this presentation which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management's plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Such forward-looking statements may be identified by the use of words such as "believe," "expect," "anticipate," "plan," "estimate," "should," "intend," "target," "outlook," "project," "guidance," "forecast," or similar expressions. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements. Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the Company's most recent Form 10-K and subsequent Form 10-Qs and other SEC filings, and such factors are incorporated herein by reference.
NON-GAAP FINANCIAL MEASURES
This press release and related materials may contain references to measures which are not defined in generally accepted accounting principles ("GAAP"). Information concerning these non-GAAP financial measures can be found in the financial tables. Management believes these measures are meaningful because they reflect adjustments commonly made by management, investors, regulators, and analysts to evaluate the adequacy of earnings per common share, provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.
Associated Banc-Corp
Consolidated Balance
Sheets (Unaudited)
Sequential Comparable
June 30, March 31, Quarter December 31, September 30, June 30, Quarter
(Dollars in thousands) 2026 2026 Change 2025 2025 2025 Change
----------------------- ------------ ------------- ------------ ------------- -------------- ---------------------- -----------
Assets
Cash and due from banks $ 548,057 $ 465,318 $ 82,739 $ 574,698 $ 490,431 $ 521,167 $ 26,890
Interest-bearing
deposits in other
financial
institutions 1,268,379 920,684 347,695 1,144,123 802,251 738,938 529,441
Federal funds sold and
securities purchased
under agreements to
resell 14,355 175 14,180 1,400 90 -- 14,355
Available for sale
(AFS) investment
securities, net, at
fair value 6,366,586 5,514,456 852,130 5,397,563 5,217,278 5,036,508 1,330,078
Held to maturity $(HTM)$
investment securities,
net, at amortized
cost 3,510,726 3,570,843 (60,117) 3,602,519 3,636,080 3,672,101 (161,375)
Equity securities 29,960 26,109 3,851 26,060 26,000 25,912 4,048
Regulatory stocks, at
cost 329,436 290,189 39,247 252,514 251,642 278,356 51,080
Residential loans held
for sale 94,490 87,461 7,029 72,499 74,563 96,804 (2,314)
Commercial loans held
for sale 15,000 -- 15,000 -- -- 8,406 6,594
Loans 36,467,040 31,798,164 4,668,876 31,163,614 30,951,964 30,607,605 5,859,435
Allowance for loan
losses (443,729) (385,756) (57,973) (378,068) (378,341) (376,515) (67,214)
------------ ------------- ------------ ------------- -------------- ---------------------- -----------
Loans, net 36,023,311 31,412,408 4,610,903 30,785,546 30,573,623 30,231,091 5,792,220
Tax credit and other
investments 235,536 230,954 4,582 236,657 245,239 247,111 (11,575)
Premises and equipment,
net 449,003 376,760 72,243 381,624 384,139 377,372 71,631
Bank and corporate
owned life insurance 717,116 694,765 22,351 694,452 693,511 691,470 25,646
Goodwill 1,147,081 1,104,992 42,089 1,104,992 1,104,992 1,104,992 42,089
Other intangible
assets, net 116,953 20,647 96,306 22,849 25,052 27,255 89,698
Mortgage servicing
rights, net 87,683 87,599 84 86,337 85,063 85,245 2,438
Interest receivable 181,916 161,021 20,895 161,118 168,451 168,627 13,289
Other assets 676,918 629,359 47,559 657,645 677,458 682,373 (5,455)
------------ ------------- ------------ ------------- -------------- ---------------------- -----------
Total assets $ 51,812,506 $ 45,593,740 $ 6,218,766 $ 45,202,596 $ 44,455,863 $ 43,993,729 $ 7,818,777
============ ============= ============ ============= ============== ====================== ===========
Liabilities and
stockholders' equity
Noninterest-bearing
demand deposits $ 6,908,338 $ 6,125,067 $ 783,271 $ 6,126,632 $ 5,906,251 $ 5,782,487 $ 1,125,851
Interest-bearing
deposits 33,022,917 29,606,698 3,416,219 29,425,976 28,975,602 28,365,079 4,657,838
------------ ------------- ------------ ------------- -------------- ---------------------- -----------
Total deposits 39,931,255 35,731,765 4,199,490 35,552,608 34,881,853 34,147,565 5,783,690
Federal funds purchased
and securities sold
under agreements to
repurchase 529,276 395,652 133,624 307,864 399,665 75,585 453,691
FHLB advances 4,574,681 3,421,762 1,152,919 3,268,094 3,220,679 3,879,489 695,192
Senior and subordinated
debt 591,080 592,629 (1,549) 594,276 594,074 593,530 (2,450)
Allowance for unfunded
commitments 50,744 39,276 11,468 41,276 36,276 35,276 15,468
Accrued expenses and
other liabilities 497,347 414,784 82,563 463,131 455,019 481,503 15,844
------------ ------------- ------------ ------------- -------------- ---------------------- -----------
Total liabilities 46,174,383 40,595,868 5,578,515 40,227,249 39,587,565 39,212,948 6,961,435
Stockholders' equity
Preferred equity 194,112 194,112 -- 194,112 194,112 194,112 --
Common equity 5,444,011 4,803,760 640,251 4,781,235 4,674,186 4,586,669 857,342
------------ ------------- ------------ ------------- -------------- ---------------------- -----------
Total stockholders'
equity 5,638,123 4,997,872 640,251 4,975,347 4,868,298 4,780,781 857,342
------------ ------------- ------------ ------------- -------------- ---------------------- -----------
Total liabilities
and stockholders'
equity $ 51,812,506 $ 45,593,740 $ 6,218,766 $ 45,202,596 $ 44,455,863 $ 43,993,729 $ 7,818,777
============ ============= ============ ============= ============== ====================== ===========
Numbers may not recalculate due to rounding conventions.
Associated Banc-Corp
Consolidated Statements of Income (Unaudited) Comparable Quarter Year to Date (YTD) Comparable YTD
(Dollars and shares
in thousands, except Dollar Percentage Dollar Percentage
per share data) 2Q26 2Q25 Change Change June 2026 June 2025 Change Change
--------------------- ------------ ------------- ---------- ---------- ----------- ----------- --------- ----------
Interest income
Interest and fees on
loans $ 506,528 $ 447,781 $ 58,747 13 % $ 933,516 $ 881,080 $ 52,436 6 %
Interest and
dividends on
investment
securities
Taxable 88,347 71,174 17,173 24 % 164,023 140,962 23,061 16 %
Tax-exempt 13,725 13,902 (177) (1) % 27,463 27,858 (395) (1) %
Other interest 14,694 12,679 2,015 16 % 26,335 21,921 4,414 20 %
------------ ------------- ---------- ----------- ----------- ---------
Total interest
income 623,294 545,536 77,758 14 % 1,151,337 1,071,821 79,516 7 %
Interest expense
Interest on deposits 203,765 197,656 6,109 3 % 379,038 406,796 (27,758) (7) %
Interest on federal
funds purchased and
securities sold
under agreements to
repurchase 4,085 2,004 2,081 104 % 7,818 5,626 2,192 39 %
Interest on FHLB
advances 35,052 34,889 163 -- % 66,621 50,979 15,642 31 %
Interest on senior
and subordinated
debt 10,163 10,700 (537) (5) % 20,326 21,785 (1,459) (7) %
Interest on other
interest-bearing
liabilities 190 287 (97) (34) % 306 695 (389) (56) %
------------ ------------- ---------- ----------- ----------- ---------
Total interest
expense 253,255 245,536 7,719 3 % 474,109 485,881 (11,772) (2) %
------------ ------------- ---------- ----------- ----------- ---------
Net interest income 370,039 300,000 70,039 23 % 677,228 585,940 91,288 16 %
Provision for credit
losses 19,388 17,996 1,392 8 % 30,389 30,999 (610) (2) %
------------ ------------- ---------- ----------- ----------- ---------
Net interest income
after provision for
credit losses 350,651 282,004 68,647 24 % 646,839 554,941 91,898 17 %
------------ ------------- ---------- ----------- ----------- ---------
Noninterest income
Wealth management
fees 26,217 23,025 3,192 14 % 51,435 45,522 5,913 13 %
Service charges and
deposit account
fees 15,863 13,147 2,716 21 % 29,916 25,961 3,955 15 %
Card-based fees 14,161 11,200 2,961 26 % 25,740 21,642 4,098 19 %
Other fee-based
revenue 5,758 4,995 763 15 % 10,623 10,245 378 4 %
Capital markets, net 7,476 5,765 1,711 30 % 14,018 10,110 3,908 39 %
Mortgage banking, net 2,777 4,213 (1,436) (34) % 8,888 8,035 853 11 %
Loss on mortgage
portfolio sale -- -- -- N/M -- (6,976) 6,976 (100) %
Bank and corporate
owned life
insurance 4,615 4,135 480 12 % 8,430 9,339 (909) (10) %
Asset gains (losses),
net 789 (1,735) 2,524 N/M 1,629 (2,613) 4,242 N/M
Investment securities
gains, net 35 7 28 N/M 6 11 (5) (45) %
Other 2,707 2,226 481 22 % 5,571 4,477 1,094 24 %
------------ ------------- ---------- ----------- ----------- ---------
Total noninterest
income 80,398 66,977 13,421 20 % 156,256 125,754 30,502 24 %
------------ ------------- ---------- ----------- ----------- ---------
Noninterest expense
Personnel 161,168 126,994 34,174 27 % 296,341 250,890 45,451 18 %
Technology 32,867 26,508 6,359 24 % 62,603 53,646 8,957 17 %
Occupancy 14,091 12,644 1,447 11 % 27,817 28,025 (208) (1) %
Business development
and advertising 8,548 7,748 800 10 % 16,374 14,134 2,240 16 %
Equipment 5,423 4,494 929 21 % 11,033 9,021 2,012 22 %
Legal and
professional 17,454 6,674 10,780 162 % 24,176 12,757 11,419 90 %
Loan and foreclosure
costs 1,552 2,705 (1,153) (43) % 3,259 5,299 (2,040) (38) %
FDIC assessment 10,595 9,708 887 9 % 19,432 20,144 (712) (4) %
Other intangible
amortization 6,894 2,203 4,691 N/M 9,096 4,405 4,691 106 %
Other 13,290 9,674 3,616 37 % 20,914 21,648 (734) (3) %
------------ ------------- ---------- ----------- ----------- ---------
Total noninterest
expense 271,882 209,352 62,530 30 % 491,045 419,971 71,074 17 %
------------ ------------- ---------- ----------- ----------- ---------
Income before income
taxes 159,167 139,629 19,538 14 % 312,050 260,724 51,326 20 %
Income tax expense 35,603 28,399 7,204 25 % 68,850 47,808 21,042 44 %
------------ ------------- ---------- ----------- ----------- ---------
Net income 123,564 111,230 12,334 11 % 243,200 212,916 30,284 14 %
Preferred stock
dividends 2,875 2,875 -- -- % 5,750 5,750 -- -- %
------------ ------------- ---------- ----------- ----------- ---------
Net income available
to common equity $ 120,689 $ 108,355 $ 12,334 11 % $ 237,450 $ 207,166 $ 30,284 15 %
============ ============= ========== =========== =========== =========
Pre-tax pre-provision
income(a) 178,555 157,625 20,930 13 % 342,439 291,723 50,716 17 %
Earnings per common
share
Basic $ 0.64 $ 0.65 $ (0.01) (2) % $ 1.34 $ 1.25 $ 0.09 7 %
Diluted $ 0.63 $ 0.65 $ (0.02) (3) % $ 1.33 $ 1.24 $ 0.09 7 %
Average common shares
outstanding
Basic 188,084 164,936 23,148 14 % 176,654 165,081 11,573 7 %
Diluted 189,899 166,343 23,556 14 % 178,402 166,506 11,896 7 %
N/M = Not meaningful
Numbers may not recalculate due to rounding conventions.
Prior periods have been adjusted to conform with current period presentation.
(a) This is a non-GAAP financial measure. See the non-GAAP financial measures
reconciliation below for a reconciliation to GAAP financial measures.
Associated Banc-Corp
Consolidated Statements of Income (Unaudited) - Quarterly Trend
Sequential Quarter
--------------------
(Dollars and shares
in thousands, except Dollar Percentage
per share data) 2Q26 1Q26 Change Change 4Q25 3Q25 2Q25
-------------------- --------- --------- --------- ---------- --------- --------- ---------
Interest income
Interest and fees on
loans $ 506,528 $ 426,989 $ 79,539 19 % $ 445,687 $ 455,623 $ 447,781
Interest and
dividends on
investment
securities
Taxable 88,347 75,676 12,671 17 % 73,511 73,727 71,174
Tax-exempt 13,725 13,738 (13) -- % 13,851 13,888 13,902
Other interest 14,694 11,641 3,053 26 % 11,294 13,353 12,679
--------- --------- --------- --------- --------- ---------
Total interest
income 623,294 528,044 95,250 18 % 544,343 556,591 545,536
Interest expense
Interest on deposits 203,765 175,273 28,492 16 % 194,778 202,344 197,656
Interest on federal
funds purchased and
securities sold
under agreements to
repurchase 4,085 3,732 353 9 % 2,682 2,107 2,004
Interest on FHLB
advances 35,052 31,570 3,482 11 % 26,309 35,965 34,889
Interest on senior
and subordinated
debt 10,163 10,163 -- -- % 10,483 10,741 10,700
Interest on other
interest-bearing
liabilities 190 116 74 64 % 110 212 287
--------- --------- --------- --------- --------- ---------
Total interest
expense 253,255 220,854 32,401 15 % 234,362 251,369 245,536
--------- --------- --------- --------- --------- ---------
Net interest income 370,039 307,190 62,849 20 % 309,981 305,222 300,000
Provision for credit
losses 19,388 11,001 8,387 76 % 6,998 16,000 17,996
--------- --------- --------- --------- --------- ---------
Net interest income
after provision for
credit losses 350,651 296,189 54,462 18 % 302,983 289,223 282,004
--------- --------- --------- --------- --------- ---------
Noninterest income
Wealth management
fees 26,217 25,219 998 4 % 25,742 25,315 23,025
Service charges and
deposit account
fees 15,863 14,054 1,809 13 % 13,827 13,861 13,147
Card-based fees 14,161 11,579 2,582 22 % 12,679 12,308 11,200
Other fee-based
revenue 5,758 4,862 896 18 % 5,557 5,414 4,995
Capital markets, net 7,476 6,543 933 14 % 11,175 10,764 5,765
Mortgage banking,
net 2,777 6,111 (3,334) (55) % 2,926 3,541 4,213
Bank and corporate
owned life
insurance 4,615 3,816 799 21 % 3,804 4,051 4,135
Asset gains
(losses), net 789 840 (51) (6) % 838 3,340 (1,735)
Investment
securities gains
(losses), net 35 (28) 63 N/M 37 1 7
Other 2,707 2,861 (154) (5) % 2,799 2,670 2,226
--------- --------- --------- --------- --------- ---------
Total noninterest
income 80,398 75,857 4,541 6 % 79,384 81,265 66,977
--------- --------- --------- --------- --------- ---------
Noninterest expense
Personnel 161,168 135,172 25,996 19 % 135,130 135,703 126,994
Technology 32,867 29,736 3,131 11 % 28,641 28,590 26,508
Occupancy 14,091 13,725 366 3 % 14,229 12,757 12,644
Business development
and advertising 8,548 7,827 721 9 % 9,118 8,362 7,748
Equipment 5,423 5,610 (187) (3) % 6,888 4,368 4,494
Legal and
professional 17,454 6,721 10,733 160 % 5,945 5,232 6,674
Loan and foreclosure
costs 1,552 1,707 (155) (9) % 1,327 1,638 2,705
FDIC assessment 10,595 8,837 1,758 20 % 6,589 9,980 9,708
Other intangible
amortization 6,894 2,203 4,691 N/M 2,203 2,203 2,203
Other 13,290 7,625 5,665 74 % 9,396 7,369 9,674
--------- --------- --------- --------- --------- ---------
Total noninterest
expense 271,882 219,163 52,719 24 % 219,466 216,202 209,352
--------- --------- --------- --------- --------- ---------
Income before income
taxes 159,167 152,883 6,284 4 % 162,901 154,286 139,629
Income tax expense 35,603 33,248 2,355 7 % 25,772 29,554 28,399
--------- --------- --------- --------- --------- ---------
Net income 123,564 119,635 3,929 3 % 137,129 124,732 111,230
Preferred stock
dividends 2,875 2,875 -- -- % 2,875 2,875 2,875
--------- --------- --------- --------- --------- ---------
Net income available
to common equity $ 120,689 $ 116,760 $ 3,929 3 % $ 134,254 $ 121,857 $ 108,355
========= ========= ========= ========= ========= =========
Pre-tax
pre-provision
income(a) 178,555 163,884 14,671 9 % 169,899 170,286 157,625
Earnings per common
share
Basic $ 0.64 $ 0.70 $ (0.06) (9) % $ 0.81 $ 0.73 $ 0.65
Diluted $ 0.63 $ 0.70 $ (0.07) (10) % $ 0.80 $ 0.73 $ 0.65
Average common
shares outstanding
Basic 188,084 165,097 22,987 14 % 165,126 165,029 164,936
Diluted 189,899 166,561 23,338 14 % 166,746 166,703 166,343
N/M = Not meaningful
Numbers may not recalculate due to rounding conventions.
Prior periods have been adjusted to conform with current period presentation.
(a) This is a non-GAAP financial measure. See the non-GAAP financial measures
reconciliation below for a reconciliation to GAAP financial measures.
Associated Banc-Corp
Net Interest Income Analysis - Fully Tax-Equivalent Basis - Sequential and Comparable Quarter
Three Months Ended
-----------------------------------------------------------------------------------------------------------------------
June 30, 2026 March 31, 2026 June 30, 2025(a)
-------------------------------------- --------------------------------------- --------------------------------------
Interest Interest Interest
Average Income Average Average Income Average Average Income Average
(Dollars in thousands) Balance /Expense Yield /Rate Balance /Expense Yield /Rate Balance /Expense Yield /Rate
----------------------- ------------ ----------- ----------- ------------ ----------- ------------ ------------- ---------- -----------
Assets
Earning assets
Loans (b)(c)
Commercial and
industrial $ 13,185,643 $ 197,248 6.00 % $ 11,776,702 $ 172,507 5.94 % $ 10,981,221 $ 179,955 6.57 %
Commercial real
estate--owner
occupied 1,577,489 22,000 5.59 % 1,190,708 15,968 5.44 % 1,114,054 16,014 5.77 %
------------ ----------- ------------ ----------- ------------- ----------
Commercial and
business lending 14,763,132 219,248 5.96 % 12,967,410 188,475 5.89 % 12,095,274 195,969 6.50 %
------------ ----------- ------------ ----------- ------------- ----------
Commercial real
estate--investor 6,502,707 99,131 6.11 % 5,277,283 78,154 6.01 % 5,582,333 91,569 6.58 %
Real estate
construction 2,410,500 40,425 6.73 % 2,055,338 34,043 6.72 % 1,869,708 33,883 7.27 %
------------ ----------- ------------ ----------- ------------- ----------
Commercial real estate
lending 8,913,207 139,556 6.28 % 7,332,621 112,197 6.21 % 7,452,041 125,452 6.75 %
------------ ----------- ------------ ----------- ------------- ----------
Total commercial 23,676,339 358,804 6.08 % 20,300,031 300,672 6.01 % 19,547,316 321,421 6.59 %
------------ ----------- ------------ ----------- ------------- ----------
Residential mortgage 6,916,754 65,963 3.81 % 6,831,984 64,640 3.78 % 7,034,607 64,995 3.70 %
Auto finance 4,044,290 58,768 5.83 % 3,125,504 41,969 5.45 % 2,933,161 41,156 5.63 %
Home equity 817,378 13,096 6.41 % 709,865 11,692 6.60 % 667,339 12,098 7.25 %
Other consumer 415,476 10,388 10.03 % 314,118 8,504 10.98 % 309,578 8,644 11.20 %
------------ ----------- ------------ ----------- ------------- ----------
Total consumer 12,193,898 148,215 4.87 % 10,981,471 126,805 4.65 % 10,944,685 126,893 4.64 %
------------ ----------- ------------ ----------- ------------- ----------
Total loans 35,870,237 507,019 5.67 % 31,281,502 427,477 5.53 % 30,492,001 448,313 5.89 %
------------ ----------- ------------ ----------- ------------- ----------
Investments
Taxable securities 8,153,435 88,347 4.33 % 7,071,751 75,676 4.28 % 6,578,690 71,174 4.33 %
Tax-exempt
securities(b) 1,971,946 17,373 3.52 % 1,978,501 17,389 3.52 % 2,004,725 17,598 3.51 %
Other short-term
investments 1,291,636 14,694 4.56 % 1,016,795 11,641 4.64 % 999,294 12,679 5.09 %
------------ ----------- ------------ ----------- ------------- ----------
Total investments 11,417,017 120,414 4.22 % 10,067,047 104,706 4.17 % 9,582,709 101,451 4.24 %
------------ ----------- ------------ ----------- ------------- ----------
Total earning assets
and related
interest income 47,287,254 $ 627,433 5.32 % 41,348,549 $ 532,183 5.20 % 40,074,710 $ 549,764 5.50 %
----------- ----------- ----------
Other assets, net 3,948,588 3,670,399 3,345,353
------------ ------------ -------------
Total assets $ 51,235,842 $ 45,018,948 $ 43,420,063
============ ============ =============
Liabilities and
stockholders' equity
Interest-bearing
liabilities
Interest-bearing
deposits
Savings $ 6,046,605 $ 19,815 1.31 % $ 5,532,848 $ 17,690 1.30 % $ 5,222,869 $ 17,139 1.32 %
Interest-bearing demand 8,720,180 37,161 1.71 % 7,886,442 34,236 1.76 % 7,683,402 42,485 2.22 %
Money market 7,641,652 45,976 2.41 % 6,061,442 34,239 2.29 % 5,988,947 38,695 2.59 %
Network transaction
deposits 1,879,876 17,459 3.73 % 1,917,854 17,502 3.70 % 1,843,998 20,211 4.40 %
Brokered CDs 4,085,995 40,487 3.97 % 3,528,294 34,811 4.00 % 4,089,844 45,418 4.45 %
Other time deposits 4,945,821 42,867 3.48 % 4,234,785 36,795 3.52 % 3,725,205 33,707 3.63 %
------------ ----------- ------------ ----------- ------------- ----------
Total interest-bearing
deposits 33,320,129 203,765 2.45 % 29,161,665 175,273 2.44 % 28,554,266 197,656 2.78 %
------------ ----------- ------------ ----------- ------------- ----------
Federal funds purchased
and securities sold
under agreements to
repurchase 460,414 4,085 3.56 % 425,142 3,732 3.56 % 220,872 2,004 3.64 %
FHLB advances 3,733,950 35,052 3.77 % 3,380,379 31,570 3.79 % 3,221,749 34,889 4.34 %
Senior and subordinated
debt 592,195 10,163 6.86 % 594,401 10,163 6.84 % 592,399 10,700 7.22 %
Other interest-bearing
liabilities 16,430 190 4.64 % 11,212 116 4.18 % 17,844 287 6.45 %
------------ ----------- ------------ ----------- ------------- ----------
Total funding 4,802,989 49,490 4.13 % 4,411,134 45,581 4.18 % 4,052,863 47,880 4.74 %
------------ ----------- ------------ ----------- ------------- ----------
Total interest-bearing
liabilities and
related interest
expense 38,123,118 $ 253,255 2.66 % 33,572,799 $ 220,854 2.67 % 32,607,129 $ 245,536 3.02 %
Noninterest-bearing
demand deposits 7,062,098 5,999,278 5,648,935
Other liabilities 422,642 440,344 431,338
Stockholders' equity 5,627,984 5,006,527 4,732,661
------------ ------------ -------------
Total liabilities
and stockholders'
equity $ 51,235,842 $ 45,018,948 $ 43,420,063
============ ============ =============
Interest rate spread 2.65 % 2.53 % 2.48 %
Net free funds 0.52 % 0.50 % 0.56 %
----------- ----------- ----------- ------------ ---------- -----------
Fully tax-equivalent
net interest income
and net interest
margin $ 374,178 3.17 % $ 311,329 3.03 % $ 304,228 3.04 %
=========== ============ ===========
Fully tax-equivalent
adjustment (4,139) (4,139) (4,228)
----------- ----------- ----------
Net interest income $ 370,039 $ 307,190 $ 300,000
=========== =========== ==========
Numbers may not recalculate due to rounding conventions.
(a) Prior period has been adjusted to conform with current period
presentation.
(b) The yield on tax-exempt loans and securities is computed on a fully
tax-equivalent basis using a tax rate of 21%.
(c) Loans held for sale have been included in the average balances.
Associated Banc-Corp
Net Interest Income Analysis - Fully Tax-Equivalent Basis - Year Over Year
Six Months Ended June 30,
------------------------------------------------------------------------------------
2026 2025(a)
------------------------------------- ---------------------------------------------
Interest Average Interest
Average Income Yield / Average Income Average
(Dollars in thousands) Balance /Expense Rate Balance /Expense Yield / Rate
----------------------- ------------ -------------- ------- ------------- --------------- -------------
Assets
Earning assets
Loans (b) (c)
Commercial and
industrial $ 12,485,064 $ 369,755 5.97 % $ 10,783,368 $ 349,740 6.54 %
Commercial real
estate--owner
occupied 1,385,167 37,968 5.53 % 1,127,535 32,214 5.76 %
------------ -------------- ------------- ---------------
Commercial and
business lending 13,870,231 407,723 5.93 % 11,910,904 381,954 6.46 %
------------ -------------- ------------- ---------------
Commercial real
estate--investor 5,893,380 177,285 6.06 % 5,499,334 178,658 6.55 %
Real estate
construction 2,233,900 74,468 6.72 % 1,884,065 67,829 7.26 %
------------ -------------- ------------- ---------------
Commercial real estate
lending 8,127,280 251,753 6.24 % 7,383,399 246,486 6.73 %
------------ -------------- ------------- ---------------
Total commercial 21,997,511 659,476 6.04 % 19,294,303 628,440 6.57 %
------------ -------------- ------------- ---------------
Residential mortgage 6,874,603 130,603 3.80 % 7,144,851 131,818 3.69 %
Auto finance 3,587,435 100,736 5.66 % 2,889,190 80,332 5.61 %
Home equity 763,919 24,788 6.49 % 662,509 24,150 7.29 %
Other consumer 365,077 18,892 10.44 % 311,691 17,417 11.27 %
------------ -------------- ------------- ---------------
Total consumer 11,591,034 275,019 4.76 % 11,008,241 253,717 4.62 %
------------ -------------- ------------- ---------------
Total loans 33,588,545 934,495 5.60 % 30,302,544 882,157 5.86 %
------------ -------------- ------------- ---------------
Investments
Taxable securities 7,615,581 164,023 4.31 % 6,489,135 140,962 4.34 %
Tax-exempt
securities(b) 1,975,205 34,763 3.52 % 2,010,403 35,264 3.51 %
Other short-term
investments 1,154,975 26,335 4.60 % 878,929 21,921 5.03 %
------------ -------------- ------------- ---------------
Total investments 10,745,761 225,121 4.19 % 9,378,467 198,147 4.23 %
------------ -------------- ------------- ---------------
Total earning assets
and related
interest income 44,334,306 $ 1,159,616 5.26 % 39,681,011 $ 1,080,304 5.48 %
-------------- ---------------
Other assets, net 3,810,263 3,346,515
------------ -------------
Total assets $ 48,144,569 $ 43,027,526
============ =============
Liabilities and
stockholders' equity
Interest-bearing
liabilities
Interest-bearing
deposits
Savings $ 5,791,146 $ 37,505 1.31 % $ 5,192,835 $ 35,068 1.36 %
Interest-bearing demand 8,305,614 71,397 1.73 % 7,856,593 87,915 2.26 %
Money market 6,855,912 80,215 2.36 % 6,033,999 78,255 2.62 %
Network transaction
deposits 1,898,760 34,961 3.71 % 1,845,974 40,278 4.40 %
Brokered CDs 3,808,685 75,298 3.99 % 4,201,955 94,711 4.55 %
Other time deposits 4,592,267 79,662 3.50 % 3,740,683 70,569 3.80 %
------------ -------------- ------------- ---------------
Total interest-bearing
deposits 31,252,384 379,038 2.45 % 28,872,038 406,796 2.84 %
------------ -------------- ------------- ---------------
Federal funds purchased
and securities sold
under agreements to
repurchase 442,876 7,818 3.56 % 297,963 5,626 3.81 %
FHLB advances 3,558,141 66,621 3.78 % 2,413,352 50,979 4.26 %
Senior and subordinated
debt 593,292 20,326 6.85 % 609,788 21,785 7.15 %
Other interest-bearing
liabilities 13,835 306 4.46 % 24,683 695 5.68 %
------------ -------------- ------------- ---------------
Total funding 4,608,144 95,071 4.15 % 3,345,786 79,085 4.76 %
------------ -------------- ------------- ---------------
Total interest-bearing
liabilities and
related interest
expense 35,860,528 $ 474,109 2.67 % 32,217,824 $ 485,881 3.04 %
Noninterest-bearing
demand deposits 6,533,624 5,644,554
Other liabilities 431,445 483,247
Stockholders' equity 5,318,972 4,681,901
------------ -------------
Total liabilities
and stockholders'
equity $ 48,144,569 $ 43,027,526
============ =============
Interest rate spread 2.59 % 2.44 %
Net free funds 0.51 % 0.57 %
-------------- ------- --------------- -------------
Fully tax-equivalent
net interest income
and net interest
margin $ 685,507 3.10 % $ 594,423 3.01 %
======= =============
Fully tax-equivalent
adjustment (8,279) (8,483)
-------------- ---------------
Net interest income $ 677,228 $ 585,940
============== ===============
Numbers may not recalculate due to rounding conventions.
(a) Prior period has been adjusted to conform with current period
presentation.
(b) The yield on tax-exempt loans and securities is computed on a fully
tax-equivalent basis using a tax rate of 21%.
(c) Loans held for sale have been included in the average balances.
Associated Banc-Corp
Loan and Deposit
Composition
(Dollars in thousands)
---------------------------- ------------ ------------- ------ ------------- ------------- ------------- ------
Seql Comp
Qtr % Qtr %
Period end loan composition Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
Commercial and industrial $ 13,750,175 $ 12,339,597 11 % $ 11,799,757 $ 11,567,651 $ 11,281,964 22 %
Commercial real
estate--owner occupied 1,575,445 1,193,778 32 % 1,186,324 1,149,939 1,101,501 43 %
------------ ------------- ------------- ------------- -------------
Commercial and business
lending 15,325,620 13,533,375 13 % 12,986,081 12,717,590 12,383,465 24 %
------------ ------------- ------------- ------------- -------------
Commercial real
estate--investor 6,492,950 5,266,584 23 % 5,246,030 5,369,441 5,370,422 21 %
Real estate construction 2,546,186 2,117,479 20 % 1,994,642 1,958,766 1,950,267 31 %
------------ ------------- ------------- ------------- -------------
Commercial real estate
lending 9,039,136 7,384,063 22 % 7,240,672 7,328,207 7,320,689 23 %
------------ ------------- ------------- ------------- -------------
Total commercial 24,364,756 20,917,438 16 % 20,226,753 20,045,797 19,704,154 24 %
------------ ------------- ------------- ------------- -------------
Residential mortgage 6,808,398 6,727,734 1 % 6,793,957 6,858,285 6,949,387 (2) %
Auto finance 4,044,416 3,136,334 29 % 3,106,498 3,041,644 2,969,495 36 %
Home equity 826,343 706,075 17 % 713,271 698,112 676,208 22 %
Other consumer 423,127 310,583 36 % 323,135 308,126 308,361 37 %
------------ ------------- ------------- ------------- -------------
Total consumer 12,102,284 10,880,726 11 % 10,936,861 10,906,167 10,903,451 11 %
------------ ------------- ------------- ------------- -------------
Total loans $ 36,467,040 $ 31,798,164 15 % $ 31,163,614 $ 30,951,964 $ 30,607,605 19 %
============ ============= ============= ============= =============
Seql Comp
Quarter average loan Qtr % Qtr %
composition(a) Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
Commercial and industrial $ 13,185,643 $ 11,776,702 12 % $ 11,588,059 $ 11,367,533 $ 10,981,221 20 %
Commercial real
estate--owner occupied 1,577,489 1,190,708 32 % 1,157,531 1,105,787 1,114,054 42 %
------------ ------------- ------------- ------------- -------------
Commercial and business
lending 14,763,132 12,967,410 14 % 12,745,590 12,473,319 12,095,274 22 %
------------ ------------- ------------- ------------- -------------
Commercial real
estate--investor 6,502,707 5,277,283 23 % 5,291,562 5,300,765 5,582,333 16 %
Real estate construction 2,410,500 2,055,338 17 % 1,974,318 1,991,565 1,869,708 29 %
------------ ------------- ------------- ------------- -------------
Commercial real estate
lending 8,913,207 7,332,621 22 % 7,265,880 7,292,330 7,452,041 20 %
------------ ------------- ------------- ------------- -------------
Total commercial 23,676,339 20,300,031 17 % 20,011,470 19,765,649 19,547,316 21 %
------------ ------------- ------------- ------------- -------------
Residential mortgage 6,916,754 6,831,984 1 % 6,899,778 6,987,858 7,034,607 (2) %
Auto finance 4,044,290 3,125,504 29 % 3,064,457 3,000,978 2,933,161 38 %
Home equity 817,378 709,865 15 % 706,923 690,330 667,339 22 %
Other consumer 415,476 314,118 32 % 312,730 305,644 309,578 34 %
------------ ------------- ------------- ------------- -------------
Total consumer 12,193,898 10,981,471 11 % 10,983,888 10,984,811 10,944,685 11 %
------------ ------------- ------------- ------------- -------------
Total loans $ 35,870,237 $ 31,281,502 15 % $ 30,995,358 $ 30,750,460 $ 30,492,001 18 %
============ ============= ============= ============= =============
Period end deposit and Seql Comp
customer funding Qtr % Qtr %
composition Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
Noninterest-bearing demand $ 6,908,338 $ 6,125,067 13 % $ 6,126,632 $ 5,906,251 $ 5,782,487 19 %
Savings 6,171,614 5,660,641 9 % 5,471,870 5,380,574 5,291,674 17 %
Interest-bearing demand 8,697,879 7,964,665 9 % 7,823,362 7,791,861 7,490,772 16 %
Money market 7,614,164 6,188,045 23 % 6,139,438 5,785,871 5,915,867 29 %
Network transaction deposits 1,823,130 1,746,518 4 % 2,154,995 2,013,964 1,792,362 2 %
Brokered CDs 3,933,787 3,562,752 10 % 3,795,133 3,956,517 4,072,048 (3) %
Other time deposits 4,782,343 4,484,077 7 % 4,041,178 4,046,815 3,802,356 26 %
------------ ------------- ------------- ------------- -------------
Total deposits 39,931,255 35,731,765 12 % 35,552,608 34,881,853 34,147,565 17 %
Other customer funding(b) 55,371 42,372 31 % 47,794 64,570 75,440 (27) %
------------ ------------- ------------- ------------- -------------
Total deposits and other
customer funding $ 39,986,626 $ 35,774,137 12 % $ 35,600,402 $ 34,946,423 $ 34,223,005 17 %
============ ============= ============= ============= =============
Core customer
deposits(c) and other
customer funding $ 34,229,709 $ 30,464,867 12 % $ 29,650,274 $ 28,975,941 $ 28,358,595 21 %
Seql Comp
Quarter average deposit Qtr % Qtr %
composition Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
Noninterest-bearing demand $ 7,062,098 $ 5,999,278 18 % $ 6,064,487 $ 5,796,676 $ 5,648,935 25 %
Savings 6,046,605 5,532,848 9 % 5,436,968 5,338,129 5,222,869 16 %
Interest-bearing demand 8,720,180 7,886,442 11 % 8,054,088 7,898,770 7,683,402 13 %
Money market 7,641,652 6,061,442 26 % 5,890,836 5,860,802 5,988,947 28 %
Network transaction deposits 1,879,876 1,917,854 (2) % 2,090,587 1,933,659 1,843,998 2 %
Brokered CDs 4,085,995 3,528,294 16 % 3,998,012 3,916,329 4,089,844 -- %
Other time deposits 4,945,821 4,234,785 17 % 4,093,939 3,961,522 3,725,205 33 %
------------ ------------- ------------- ------------- -------------
Total deposits 40,382,227 35,160,943 15 % 35,628,917 34,705,887 34,203,201 18 %
Other customer funding(b) 57,029 43,973 30 % 45,973 74,305 80,010 (29) %
------------ ------------- ------------- ------------- -------------
Total deposits and other
customer funding $ 40,439,256 $ 35,204,916 15 % $ 35,674,890 $ 34,780,192 $ 34,283,211 18 %
============ ============= ============= ============= =============
Core customer
deposits(c) and other
customer funding $ 34,473,385 $ 29,758,768 16 % $ 29,586,291 $ 28,930,204 $ 28,349,369 22 %
Numbers may not recalculate due to rounding conventions.
(a) Loans held for sale have been included in the average balances.
(b) Includes repurchase agreements.
(c) This is a non-GAAP financial measure. See the non-GAAP financial measures
reconciliation below for a reconciliation to GAAP financial measures.
Associated Banc-Corp
Selected Asset Quality Information
Seql Comp
Qtr % Qtr %
(Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
----------------------- ------------ ------------ ------ ------------ ------------ ------------ ------
Allowance for loan
losses
Balance at beginning of
period $ 385,756 $ 378,068 2 % $ 378,341 $ 376,515 $ 371,348 4 %
Provision for loan
losses recorded at
acquisition 397 -- N/M -- -- -- N/M
Allowance for PCD loans
acquired 39,512 -- N/M -- -- -- N/M
Allowance for purchased
seasoned loans
acquired 28,263 -- N/M -- -- -- N/M
------------ ------------ ------------ ------------ ------------
Balance at April 1,
2026 453,928 -- N/M -- -- -- N/M
Provision for loan
losses 13,000 13,000 -- % 2,000 15,000 18,000 (28) %
Charge offs (26,282) (8,210) N/M (7,636) (15,254) (18,348) 43 %
Recoveries 3,083 2,898 6 % 5,363 2,081 5,515 (44) %
------------ ------------ ------------ ------------ ------------
Net charge offs (23,199) (5,312) N/M (2,273) (13,173) (12,833) 81 %
------------ ------------ ------------ ------------ ------------
Balance at end of
period $ 443,729 $ 385,756 15 % $ 378,068 $ 378,341 $ 376,515 18 %
------------ ------------ ------------ ------------ ------------
Allowance for unfunded
commitments
Balance at beginning of
period $ 39,276 $ 41,276 (5) % $ 36,276 $ 35,276 $ 35,276 11 %
Allowance for PCD
unfunded commitments
acquired 3,597 -- N/M -- -- -- N/M
Allowance for purchased
seasoned unfunded
commitments acquired 1,871 -- N/M -- -- -- N/M
------------ ------------ ------------ ------------ ------------
Balance at April 1,
2026 44,744 -- N/M -- -- -- N/M
Provision for unfunded
commitments 6,000 (2,000) N/M 5,000 1,000 -- N/M
------------ ------------ ------------ ------------ ------------
Balance at end of
period 50,744 39,276 29 % 41,276 36,276 35,276 44 %
------------ ------------ ------------ ------------ ------------
Allowance for credit
losses on loans
(ACLL) $ 494,473 $ 425,032 16 % $ 419,344 $ 414,618 $ 411,791 20 %
============ ============ ============ ============ ============
Provision for credit
losses on loans $ 19,397 $ 11,000 76 % $ 7,000 $ 16,000 $ 18,000 8 %
Seql Comp
Qtr % Qtr %
(Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
----------------------- ------------ ------------ ------ ------------ ------------ ------------ ------
Net (charge offs)
recoveries
Commercial and
industrial $ (17,604) $ (2,736) N/M $ 1,524 $ (1,230) $ (1,826) N/M
Commercial real
estate--owner occupied -- -- N/M (113) -- -- N/M
------------ ------------ ------------ ------------ ------------
Commercial and
business lending (17,604) (2,736) N/M 1,411 (1,230) (1,826) N/M
------------ ------------ ------------ ------------ ------------
Commercial real
estate--investor (2,710) 500 N/M 94 (8,930) (8,493) (68) %
Real estate
construction 2 2 -- % 2 2 121 (98) %
------------ ------------ ------------ ------------ ------------
Commercial real estate
lending (2,708) 502 N/M 96 (8,928) (8,372) (68) %
------------ ------------ ------------ ------------ ------------
Total commercial (20,312) (2,234) N/M 1,507 (10,158) (10,198) 99 %
------------ ------------ ------------ ------------ ------------
Residential mortgage (197) 148 N/M (197) (231) (302) (35) %
Auto finance (1,508) (1,843) (18) % (2,010) (1,505) (689) 119 %
Home equity 251 439 (43) % 2 56 237 6 %
Other consumer (1,433) (1,822) (21) % (1,575) (1,336) (1,881) (24) %
------------ ------------ ------------ ------------ ------------
Total consumer (2,887) (3,078) (6) % (3,780) (3,015) (2,636) 10 %
------------ ------------ ------------ ------------ ------------
Total net charge
offs $ (23,199) $ (5,312) N/M $ (2,273) $ (13,173) $ (12,833) 81 %
============ ============ ============ ============ ============
(In basis points) Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025
----------------------- ------------ ------------ ------ ------------ ------------ ------------ ------
Net (charge offs)
recoveries to average
loans (annualized)
Commercial and
industrial (54) (9) 5 (4) (7)
Commercial real
estate--owner occupied -- -- (4) -- --
Commercial and
business lending (48) (9) 4 (4) (6)
Commercial real
estate--investor (17) 4 1 (67) (61)
Real estate
construction -- -- -- -- 3
Commercial real estate
lending (12) 3 1 (49) (45)
Total commercial (34) (4) 3 (20) (21)
Residential mortgage (1) 1 (1) (1) (2)
Auto finance (15) (24) (26) (20) (9)
Home equity 12 25 -- 3 14
Other consumer (138) (235) (200) (173) (244)
Total consumer (9) (11) (14) (11) (10)
Total net charge
offs (26) (7) (3) (17) (17)
Seql Comp
Qtr % Qtr %
(Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
----------------------- ------------ ------------ ------ ------------ ------------ ------------ ------
Credit quality
Nonaccrual loans $ 149,953 $ 110,581 36 % $ 100,428 $ 106,179 $ 112,999 33 %
Other real estate owned
(OREO) 34,052 32,534 5 % 28,016 29,268 34,287 (1) %
Repossessed assets 1,293 806 60 % 757 789 882 47 %
------------ ------------ ------------ ------------ ------------
Total nonperforming
assets $ 185,298 $ 143,921 29 % $ 129,201 $ 136,236 $ 148,169 25 %
============ ============ ============ ============ ============
Accruing loans past due
90 days or more(a) $ 2,288 $ 2,490 (8) % $ 2,814 $ 2,692 $ 14,160 (84) %
Allowance for credit
losses on loans to
total loans 1.36 % 1.34 % 1.35 % 1.34 % 1.35 %
Allowance for credit
losses on loans to
nonaccrual loans 329.75 % 384.36 % 417.56 % 390.49 % 364.42 %
Nonaccrual loans to
total loans 0.41 % 0.35 % 0.32 % 0.34 % 0.37 %
Nonperforming assets to
total loans plus OREO
and repossessed
assets 0.51 % 0.45 % 0.41 % 0.44 % 0.48 %
Nonperforming assets to
total assets 0.36 % 0.32 % 0.29 % 0.31 % 0.34 %
Associated Banc-Corp
Selected Asset Quality Information (continued)
Seql
Qtr % Comp Qtr %
(Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
----------------------- ------------ ------------- ------ ------------- ------------- ------------- ----------
Nonaccrual loans
Commercial and
industrial $ 44,388 $ 19,606 126 % $ 7,178 $ 12,802 $ 6,945 N/M
Commercial real
estate--owner
occupied 3,255 34 N/M 203 203 -- N/M
------------ ------------- ------------- ------------- -------------
Commercial and
business lending 47,643 19,640 143 % 7,381 13,006 6,945 N/M
------------ ------------- ------------- ------------- -------------
Commercial real
estate--investor 11,184 8,078 38 % 8,311 7,333 15,805 (29) %
Real estate
construction 2,974 25 N/M 144 145 146 N/M
------------ ------------- ------------- ------------- -------------
Commercial real estate
lending 14,158 8,103 75 % 8,455 7,478 15,950 (11) %
------------ ------------- ------------- ------------- -------------
Total commercial 61,801 27,743 123 % 15,836 20,484 22,895 170 %
------------ ------------- ------------- ------------- -------------
Residential mortgage 70,335 66,890 5 % 68,492 69,093 73,817 (5) %
Auto finance 10,973 8,888 23 % 8,271 8,218 8,004 37 %
Home equity 6,582 6,950 (5) % 7,774 8,299 8,201 (20) %
Other consumer 262 110 138 % 55 85 82 N/M
------------ ------------- ------------- ------------- -------------
Total consumer 88,152 82,838 6 % 84,592 85,696 90,104 (2) %
------------ ------------- ------------- ------------- -------------
Total nonaccrual
loans $ 149,953 $ 110,581 36 % $ 100,428 $ 106,179 $ 112,999 33 %
============ ============= ============= ============= =============
Seql
Qtr % Comp Qtr %
(Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Change
----------------------- ------------ ------------- ------ ------------- ------------- ------------- ----------
Accruing loans 30-89
days past due
Commercial and
industrial $ 10,668 $ 24,253 (56) % $ 2,683 $ 1,071 $ 2,593 N/M
Commercial real
estate--owner
occupied 893 345 159 % 34 -- 5,628 (84) %
------------ ------------- ------------- ------------- -------------
Commercial and
business lending 11,561 24,598 (53) % 2,717 1,071 8,221 41 %
------------ ------------- ------------- ------------- -------------
Commercial real
estate--investor 3,089 33,487 (91) % 19,405 14,190 1,042 196 %
Real estate
construction 1,437 -- N/M 117 21 90 N/M
------------ ------------- ------------- ------------- -------------
Commercial real estate
lending 4,526 33,487 (86) % 19,522 14,211 1,132 N/M
------------ ------------- ------------- ------------- -------------
Total commercial 16,087 58,085 (72) % 22,239 15,282 9,353 72 %
------------ ------------- ------------- ------------- -------------
Residential mortgage 14,034 7,755 81 % 13,135 12,684 8,744 60 %
Auto finance 20,367 14,549 40 % 16,445 14,013 13,149 55 %
Home equity 4,536 2,742 65 % 3,779 4,265 4,338 5 %
Other consumer(a) 2,988 2,173 38 % 2,704 2,728 2,578 16 %
------------ ------------- ------------- ------------- -------------
Total consumer 41,925 27,219 54 % 36,063 33,689 28,810 46 %
------------ ------------- ------------- ------------- -------------
Total accruing loans
30-89 days past
due $ 58,012 $ 85,304 (32) % $ 58,302 $ 48,971 $ 38,163 52 %
============ ============= ============= ============= =============
N/M = Not meaningful
Numbers may not recalculate due to rounding conventions.
(a) Excluding guaranteed student loans.
Associated Banc-Corp
Selected Quarterly
Information
(Dollars and shares
in thousands, except
per share data and YTD YTD
as noted) Jun 2026 Jun 2025 2Q26 1Q26 4Q25 3Q25 2Q25
-------------------- ---------- ---------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Per common share
data
Dividends $ 0.48 $ 0.46 $ 0.24 $ 0.24 $ 0.24 $ 0.23 $ 0.23
Market value:
High 31.34 25.63 31.34 29.37 27.14 27.01 24.56
Low 24.34 18.91 25.98 24.34 24.11 23.78 18.91
Close 30.77 25.86 25.76 25.71 24.39
Book value /
share(a) 28.85 29.04 28.81 28.17 27.67
Tangible book value
(TBV) /
share(a)(b) 22.15 22.23 22.01 21.36 20.84
-------------------- ---------- ---------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Selected trend
information
Net interest
margin(c) 3.10 % 3.01 % 3.17 % 3.03 % 3.06 % 3.04 % 3.04 %
Effective tax rate 22.06 % 18.34 % 22.37 % 21.75 % 15.82 % 19.16 % 20.34 %
Noninterest expense
/ average
assets(c) 2.06 % 1.97 % 2.13 % 1.97 % 1.96 % 1.95 % 1.93 %
Dividend payout
ratio(d) 35.82 % 36.80 % 37.50 % 34.29 % 29.63 % 31.51 % 35.38 %
Loans / deposits
ratio 91.32 % 88.99 % 87.65 % 88.73 % 89.63 %
Assets under
management, at
market value(e) $ 17,009 $ 15,708 $ 16,132 $ 16,178 $ 15,537
Common shares
repurchased during
period(f) 894 900 -- 894 -- -- --
Common shares
outstanding, end of
period 188,718 165,438 165,980 165,904 165,778
-------------------- ---------- ---------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Risk-based
capital(g)(h)
Total risk-weighted
assets $ 41,108,329 $ 35,773,810 $ 35,125,680 $ 34,688,358 $ 34,241,408
Common equity Tier
1(i) $ 4,304,915 $ 3,744,610 $ 3,683,711 $ 3,584,712 $ 3,493,316
Common equity Tier 1
capital ratio(i) 10.47 % 10.47 % 10.49 % 10.33 % 10.20 %
Tier 1 capital ratio 10.94 % 11.01 % 11.04 % 10.89 % 10.77 %
Total capital ratio 12.79 % 13.02 % 13.08 % 12.94 % 12.83 %
Tier 1 leverage
ratio 8.99 % 8.98 % 8.96 % 8.81 % 8.72 %
-------------------- ---------- ---------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Selected equity and
performance ratios
Total stockholders'
equity / total
assets 10.88 % 10.96 % 11.01 % 10.95 % 10.87 %
Tangible common
equity / tangible
assets (TCE
Ratio)(b) 8.27 % 8.27 % 8.29 % 8.18 % 8.06 %
Average
stockholders'
equity / average
assets 11.05 % 10.88 % 10.98 % 11.12 % 11.05 % 10.95 % 10.90 %
Return on average
equity(c) 9.22 % 9.17 % 8.81 % 9.69 % 11.09 % 10.26 % 9.43 %
Return on average
tangible common
equity
(ROATCE)(b)(c) 12.54 % 12.66 % 12.12 % 13.03 % 15.04 % 14.02 % 12.96 %
Return on average
assets(c) 1.02 % 1.00 % 0.97 % 1.08 % 1.23 % 1.12 % 1.03 %
Return on average
tangible
assets(b)(c) 1.07 % 1.04 % 1.03 % 1.12 % 1.27 % 1.17 % 1.07 %
-------------------- ---------- ---------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Efficiency ratios
(expense / revenue)
Fully tax-equivalent
efficiency ratio 57.26 % 57.70 % 58.30 % 56.03 % 55.21 % 54.77 % 55.81 %
Adjusted efficiency
ratio(b) 54.23 % 57.15 % 52.91 % 55.77 % 55.15 % 54.77 % 55.81 %
Numbers may not recalculate due to rounding conventions.
(a) Based on period end common shares outstanding.
(b) This is a non-GAAP financial measure. See the non-GAAP financial measures
reconciliation below for a reconciliation to GAAP financial measures.
(c) This ratio is annualized.
(d) Ratio is based upon basic earnings per common share.
(e) In millions. Excludes assets held in brokerage accounts.
(f) Does not include repurchases related to tax withholding on equity
compensation.
(g) The Federal Reserve establishes regulatory capital requirements,
including well-capitalized standards for the Corporation. The regulatory
capital requirements effective for the Corporation follow Basel III,
subject to certain transition provisions.
(h) June 30, 2026 data is estimated.
(i) The Corporation is not classified as an advanced approaches holding
company as defined by the Federal Reserve. As such, the Corporation has
elected to be subject to the AOCI-related adjustments when calculating
common equity tier 1 capital which allows the Corporation to opt-out of
the requirement to include most components of AOCI in common equity tier
1 capital.
Associated Banc-Corp
Non-GAAP Financial
Measures
Reconciliation YTD YTD
(Dollars in thousands) Jun 2026 Jun 2025 2Q26 1Q26 4Q25 3Q25 2Q25
Tangible common equity
reconciliation
Common equity $ 5,444,011 $ 4,803,760 $ 4,781,235 $ 4,674,186 $ 4,586,669
Less: Goodwill and
other intangible
assets, net 1,264,034 1,125,639 1,127,842 1,130,044 1,132,247
-------------------- -------------------- -------------------- -------------------- --------------------
Tangible common equity
for TBV / share and
TCE Ratio $ 4,179,977 $ 3,678,121 $ 3,653,393 $ 3,544,142 $ 3,454,422
==================== ==================== ==================== ==================== ====================
Tangible assets
reconciliation
Total assets $ 51,812,506 $ 45,593,740 $ 45,202,596 $ 44,455,863 $ 43,993,729
Less: Goodwill and
other intangible
assets, net 1,264,034 1,125,639 1,127,842 1,130,044 1,132,247
-------------------- -------------------- -------------------- -------------------- --------------------
Tangible assets for
TCE Ratio $ 50,548,472 $ 44,468,101 $ 44,074,754 $ 43,325,819 $ 42,861,482
==================== ==================== ==================== ==================== ====================
Average tangible common
equity reconciliation
Average common equity $ 5,124,860 $ 4,487,789 $ 5,433,872 $ 4,812,415 $ 4,713,445 $ 4,627,038 $ 4,538,549
Less: Average goodwill
and other intangible
assets, net 1,197,702 1,134,600 1,267,876 1,126,748 1,129,055 1,131,385 1,133,627
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Average tangible
common equity for
ROATCE 3,927,158 3,353,189 $ 4,165,996 $ 3,685,667 $ 3,584,390 $ 3,495,653 $ 3,404,922
==================== ==================== ==================== ==================== ====================
Average tangible assets
reconciliation
Average total assets $ 48,144,569 $ 43,027,526 $ 51,235,842 $ 45,018,948 $ 44,402,771 $ 44,015,203 $ 43,420,063
Less: Average goodwill
and other intangible
assets, net 1,197,702 1,134,600 1,267,876 1,126,748 1,129,055 1,131,385 1,133,627
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Average tangible
assets for return on
average tangible
assets $ 46,946,867 $ 41,892,926 $ 49,967,966 $ 43,892,200 $ 43,273,716 $ 42,883,818 $ 42,286,436
==================== ==================== ==================== ==================== ==================== ==================== ====================
Adjusted net income
reconciliation
Net income $ 243,200 $ 212,916 $ 123,564 $ 119,635 $ 137,129 $ 124,732 $ 111,230
Other intangible
amortization, net of
tax 6,822 3,304 5,170 1,652 1,652 1,652 1,652
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Adjusted net income
for return on average
tangible assets $ 250,022 $ 216,220 $ 128,734 $ 121,287 $ 138,781 $ 126,384 $ 112,882
==================== ==================== ==================== ==================== ==================== ==================== ====================
Adjusted net income
available to common
equity reconciliation
Net income available to
common equity $ 237,450 $ 207,166 $ 120,689 $ 116,760 $ 134,254 $ 121,857 $ 108,355
Other intangible
amortization, net of
tax 6,822 3,304 5,170 1,652 1,652 1,652 1,652
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Adjusted net income
available to common
equity for ROATCE $ 244,272 $ 210,470 $ 125,859 $ 118,412 $ 135,906 $ 123,509 $ 110,007
==================== ==================== ==================== ==================== ==================== ==================== ====================
Pre-tax pre-provision
income
Income before income
taxes $ 312,050 $ 260,724 $ 159,167 $ 152,883 $ 162,901 $ 154,286 $ 139,629
Provision for credit
losses 30,389 30,999 19,388 11,001 6,998 16,000 17,996
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Pre-tax pre-provision
income $ 342,439 $ 291,723 $ 178,555 $ 163,884 $ 169,899 $ 170,286 $ 157,625
==================== ==================== ==================== ==================== ==================== ==================== ====================
Period end core
customer deposits
reconciliation
Total deposits $ 39,931,255 $ 35,731,765 $ 35,552,608 $ 34,881,853 $ 34,147,565
Less: Network
transaction deposits 1,823,130 1,746,518 2,154,995 2,013,964 1,792,362
Less: Brokered CDs 3,933,787 3,562,752 3,795,133 3,956,517 4,072,048
-------------------- -------------------- -------------------- -------------------- --------------------
Core customer deposits $ 34,174,338 $ 30,422,495 $ 29,602,480 $ 28,911,371 $ 28,283,155
==================== ==================== ==================== ==================== ====================
Average core customer
deposits
reconciliation
Average total deposits $ 37,786,008 $ 34,516,592 $ 40,382,227 $ 35,160,943 $ 35,628,917 $ 34,705,887 $ 34,203,201
Less: Average network
transaction deposits 1,898,760 1,845,974 1,879,876 1,917,854 2,090,587 1,933,659 1,843,998
Less: Average brokered
CDs 3,808,685 4,201,955 4,085,995 3,528,294 3,998,012 3,916,329 4,089,844
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Average core customer
deposits $ 32,078,563 $ 28,468,663 $ 34,416,356 $ 29,714,795 $ 29,540,318 $ 28,855,899 $ 28,269,359
==================== ==================== ==================== ==================== ==================== ==================== ====================
Total expense for
efficiency ratios
reconciliation
Noninterest expense $ 491,045 $ 419,971 $ 271,882 $ 219,163 $ 219,466 $ 216,202 $ 209,352
Less: Other intangible
amortization 9,096 4,405 6,894 2,203 2,203 2,203 2,203
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total expense for
fully tax-equivalent
efficiency ratio 481,949 415,566 264,988 216,960 217,263 213,999 207,149
Less: Acquisition
costs(a) 25,476 -- 24,469 1,007 252 -- --
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total expense for
adjusted efficiency
ratio $ 456,473 $ 415,566 $ 240,519 $ 215,953 $ 217,011 $ 213,999 $ 207,149
==================== ==================== ==================== ==================== ==================== ==================== ====================
Total revenue for
efficiency ratios
reconciliation
Net interest income $ 677,228 $ 585,940 $ 370,039 $ 307,190 $ 309,981 $ 305,222 $ 300,000
Noninterest income 156,256 125,754 80,398 75,857 79,384 81,265 66,977
Less: Investment
securities (losses)
gains, net 6 11 35 (28) 37 1 7
Fully tax-equivalent
adjustment 8,279 8,483 4,139 4,139 4,196 4,222 4,228
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total revenue for
fully tax-equivalent
efficiency ratio 841,757 720,166 454,541 387,214 393,524 390,708 371,198
Less: Announced
initiatives(b) -- (6,976) -- -- -- -- --
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total revenue for
adjusted efficiency
ratio $ 841,757 $ 727,142 $ 454,541 $ 387,214 $ 393,524 $ 390,708 $ 371,198
==================== ==================== ==================== ==================== ==================== ==================== ====================
Numbers may not recalculate due to rounding conventions.
(a) During the fourth quarter of 2025, the Corporation entered into a
definitive agreement to acquire American National. The acquisition was
completed on April 1, 2026. These costs, incurred in connection with the
acquisition, represent nonrecurring costs.
(b) Announced initiatives include the loss on mortgage portfolio sale as a
result of balance sheet repositioning that the Corporation announced in the
fourth quarter of 2024.
Associated Banc-Corp
Non-GAAP Financial Measures Reconciliation
(Dollars in thousands) 2Q26
Adjusted net income available to common equity reconciliation
Net income available to common equity $ 120,689
Acquisition costs, net of tax 18,996
------------
Adjusted net income available to common equity for adjusted
earnings per share $ 139,685
============
Investor Contact:
Ben McCarville, Senior Vice President, Director of Investor Relations
920-491-7059
Media Contact:
Andrea Kozek, Vice President, Public Relations Senior Manager
920-491-7518
View original content:https://www.prnewswire.com/news-releases/associated-banc-corp-reports-second-quarter-2026-earnings-of-0-63-per-common-share-or-0-73-per-common-share-excluding-nonrecurring-items-recognized-during-the-quarter-302833675.html
SOURCE Associated Banc-Corp
(END) Dow Jones Newswires
July 23, 2026 16:15 ET