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Record Quarterly Net Interest Income Drives Associated Banc-Corp's Second Quarter 2025 Earnings per Common Share of $0.65

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Associated Banc-Corp (NYSE: ASB) reported strong Q2 2025 earnings with net income of $108 million, or $0.65 per share, up from $99 million ($0.59/share) in Q1 2025. The bank achieved record quarterly net interest income of $300 million, representing a 5% increase from Q1 2025 and 17% growth year-over-year.

Key metrics include total loans of $30.6 billion (+1% QoQ), deposits of $34.1 billion (-3% QoQ), and a net interest margin of 3.04%. The bank maintained strong credit quality with an allowance for credit losses ratio of 1.35% and net charge-offs of 0.17%. Management updated 2025 guidance, projecting 5-6% loan growth and 1-3% total deposit growth.

Associated Banc-Corp (NYSE: ASB) ha riportato risultati solidi nel secondo trimestre 2025 con un utile netto di 108 milioni di dollari, pari a 0,65 dollari per azione, in aumento rispetto ai 99 milioni di dollari (0,59 dollari per azione) del primo trimestre 2025. La banca ha raggiunto un reddito netto da interessi trimestrale record di 300 milioni di dollari, segnando un incremento del 5% rispetto al primo trimestre 2025 e una crescita del 17% su base annua.

I principali indicatori includono prestiti totali per 30,6 miliardi di dollari (+1% trimestre su trimestre), depositi per 34,1 miliardi di dollari (-3% trimestre su trimestre) e un margine di interesse netto del 3,04%. La banca ha mantenuto una solida qualità del credito con un rapporto di accantonamenti per perdite su crediti dell'1,35% e svalutazioni nette dello 0,17%. La direzione ha aggiornato le previsioni per il 2025, prevedendo una crescita dei prestiti del 5-6% e una crescita totale dei depositi dell'1-3%.

Associated Banc-Corp (NYSE: ASB) reportó sólidos resultados en el segundo trimestre de 2025 con un ingreso neto de 108 millones de dólares, o 0,65 dólares por acción, aumentando desde 99 millones de dólares (0,59 dólares por acción) en el primer trimestre de 2025. El banco logró un ingreso neto por intereses trimestral récord de 300 millones de dólares, lo que representa un aumento del 5% respecto al primer trimestre de 2025 y un crecimiento del 17% interanual.

Las métricas clave incluyen préstamos totales por 30.6 mil millones de dólares (+1% trimestre a trimestre), depósitos por 34.1 mil millones de dólares (-3% trimestre a trimestre) y un margen neto de interés del 3.04%. El banco mantuvo una sólida calidad crediticia con una provisión para pérdidas crediticias del 1.35% y cargos netos por incobrables del 0.17%. La dirección actualizó las previsiones para 2025, proyectando un crecimiento de préstamos del 5-6% y un crecimiento total de depósitos del 1-3%.

Associated Banc-Corp (NYSE: ASB)는 2025년 2분기에 순이익 1억 800만 달러, 주당 0.65달러를 기록하며 견고한 실적을 발표했습니다. 이는 2025년 1분기 9,900만 달러(주당 0.59달러)에서 증가한 수치입니다. 은행은 분기별 순이자수익 3억 달러로 사상 최고치를 달성했으며, 이는 1분기 대비 5%, 전년 동기 대비 17% 성장한 결과입니다.

주요 지표로는 총 대출액 306억 달러(전분기 대비 +1%), 예금액 341억 달러(전분기 대비 -3%), 순이자마진 3.04%가 있습니다. 은행은 1.35%의 대손충당금 비율과 0.17%의 순대손실률로 강한 신용 품질을 유지했습니다. 경영진은 2025년 가이던스를 업데이트하여 대출 성장률 5-6%, 총 예금 성장률 1-3%를 예상하고 있습니다.

Associated Banc-Corp (NYSE : ASB) a annoncé de solides résultats pour le deuxième trimestre 2025 avec un bénéfice net de 108 millions de dollars, soit 0,65 dollar par action, en hausse par rapport à 99 millions de dollars (0,59 dollar par action) au premier trimestre 2025. La banque a atteint un revenu net d’intérêts trimestriel record de 300 millions de dollars, représentant une augmentation de 5 % par rapport au premier trimestre 2025 et une croissance de 17 % sur un an.

Les indicateurs clés comprennent des prêts totaux de 30,6 milliards de dollars (+1 % trimestre à trimestre), des dépôts de 34,1 milliards de dollars (-3 % trimestre à trimestre) et une marge nette d’intérêt de 3,04 %. La banque a maintenu une solide qualité de crédit avec un ratio de provision pour pertes sur prêts de 1,35 % et des radiations nettes de 0,17 %. La direction a mis à jour ses prévisions pour 2025, prévoyant une croissance des prêts de 5 à 6 % et une croissance totale des dépôts de 1 à 3 %.

Associated Banc-Corp (NYSE: ASB) meldete starke Ergebnisse für das zweite Quartal 2025 mit einem Nettogewinn von 108 Millionen US-Dollar bzw. 0,65 US-Dollar je Aktie, gegenüber 99 Millionen US-Dollar (0,59 US-Dollar/Aktie) im ersten Quartal 2025. Die Bank erzielte einen rekordverdächtigen quartalsweisen Nettozinsertrag von 300 Millionen US-Dollar, was einem Anstieg von 5 % gegenüber dem ersten Quartal 2025 und einem Wachstum von 17 % im Jahresvergleich entspricht.

Wesentliche Kennzahlen umfassen Gesamtkredite von 30,6 Milliarden US-Dollar (+1 % Quartal zu Quartal), Einlagen von 34,1 Milliarden US-Dollar (-3 % Quartal zu Quartal) und eine Nettozinsmarge von 3,04 %. Die Bank hielt eine starke Kreditqualität mit einer Rückstellung für Kreditausfälle von 1,35 % und Nettoabschreibungen von 0,17 %. Das Management aktualisierte die Prognose für 2025 und erwartet ein Kreditwachstum von 5-6 % sowie ein Gesamteinlagenwachstum von 1-3 %.

Positive
  • None.
Negative
  • Total deposits declined 3% quarter-over-quarter to $34.1 billion
  • Noninterest-bearing demand deposits decreased $353 million from prior quarter
  • Consumer lending decreased $374 million year-over-year
  • Provision for credit losses increased to $18 million from $13 million in Q1

Insights

ASB reports strong Q2 with record $300M net interest income, improved margins, solid loan growth, though deposits declined slightly.

Associated Banc-Corp delivered $108 million in earnings or $0.65 per share in Q2 2025, representing a 10.2% increase from the previous quarter's $0.59 per share, though falling short of the $0.74 earned in the year-ago period.

The bank's performance was anchored by record net interest income of $300 million, up 5% quarter-over-quarter and 17% year-over-year. This impressive growth was driven by continued net interest margin expansion, which improved by 7 basis points to 3.04% - a significant achievement in the current rate environment. The margin improvement stems from the bank's asset-sensitive balance sheet positioning and disciplined deposit pricing, with the average cost of interest-bearing liabilities decreasing 4 basis points to 3.02%.

On the balance sheet front, ASB showed divergent trends between loans and deposits. Total loans reached $30.6 billion, increasing 1% from Q1 and 3% year-over-year, with commercial and business lending showing particular strength (up $339 million quarter-over-quarter). However, deposits declined 3% to $34.1 billion compared to Q1, though they remain 4% higher than a year ago. The deposit outflow was concentrated in transaction accounts, with non-interest bearing demand deposits falling by $353 million and interest-bearing demand deposits decreasing by $380 million.

Credit quality metrics remain solid with the non-accrual loan ratio improving to 0.37% from 0.44% in Q1. Net charge-offs were $13 million or 0.17% of average loans (annualized), while the bank maintained a conservative loan loss allowance ratio of 1.35%.

Capital levels continued to strengthen with the CET1 ratio improving 9 basis points to 10.20%, providing the bank flexibility for growth or capital returns. Management has upgraded its net interest income growth guidance to 14-15% for 2025, signaling confidence in continued margin strength despite reducing total deposit growth expectations to 1-3%.

GREEN BAY, Wis., July 24, 2025 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income available to common equity ("earnings") of $108 million, or $0.65 per common share, for the quarter ended June 30, 2025. These amounts compare to earnings of $99 million, or $0.59 per common share, for the quarter ended March 31, 2025 and earnings of $113 million, or $0.74 per common share, for the quarter ended June 30, 2024.

"Midway through 2025, Associated Bank is seeing strong momentum from the strategic actions we've taken over the past several quarters," said President & CEO Andy Harmening. "In the second quarter, we delivered over $350 million in additional C&I loan growth, another 7 basis points of margin expansion, and the best checking household growth we've seen since we began tracking a decade ago--all of which contributed to the strongest quarterly net interest income we've seen in company history. Importantly, we also delivered another 9 basis points of CET1 capital accretion and solid credit performance."

"While uncertainty has been an ongoing theme at the macro level, we feel well-positioned to build on our momentum over the back half of the year thanks to our strengthened profitability profile, solid capital position, and disciplined approach to growth. We look forward to providing additional updates on our progress along the way."

Second Quarter 2025 Highlights

  • Diluted earnings per common share of $0.65
  • Record net interest income of $300 million (+5% vs. 1Q 2025; +17% vs. 2Q 2024)
  • Total period end loans of $30.6 billion (+1% vs. 1Q 2025; +3% vs. 2Q 2024)
  • Total period end deposits of $34.1 billion (-3% vs. 1Q 2025; +4% vs. 2Q 2024)
  • Total period end core customer deposits1 of $28.3 billion (-3% vs. 1Q 2025; +4% vs. 2Q 2024)
  • Net interest margin of 3.04%
  • Noninterest income of $67 million
  • Noninterest expense of $209 million
  • Provision for credit losses of $18 million
  • Allowance for credit losses on loans / total loans of 1.35%
  • Net charge offs / average loans (annualized) of 0.17%
  • Book value / share of $27.67
  • Tangible book value / share1 of $20.84

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 2025 average total loans of $30.5 billion increased 1%, or $381 million, from the prior quarter and increased 3%, or $912 million, from the same period last year. With respect to second quarter 2025 average balances by loan category:

  • Commercial and business lending increased $371 million from the prior quarter and increased $1.1 billion from the same period last year to $12.1 billion.
  • Commercial real estate lending increased $138 million from the prior quarter and increased $202 million from the same period last year to $7.5 billion.
  • Consumer lending decreased $128 million from the prior quarter and decreased $374 million from the same period last year to $10.9 billion.

Second quarter 2025 period end total loans of $30.6 billion increased 1%, or $313 million, from the prior quarter and increased 3%, or $989 million, from the same period last year. With respect to second quarter 2025 period end balances by loan category:

  • Commercial and business lending increased $339 million from the prior quarter and increased $1.3 billion from the same period last year to $12.4 billion.
  • Commercial real estate lending decreased $86 million from the prior quarter and increased $64 million the same period last year to $7.3 billion.
  • Consumer lending increased $60 million from the prior quarter and decreased $385 million from the same period last year to $10.9 billion.

We continue to expect 2025 period end loan growth of 5% to 6% as compared to the year ended December 31, 2024.

Deposits

Second quarter 2025 average deposits of $34.2 billion decreased 2%, or $630 million, from the prior quarter and increased 5%, or $1.6 billion, from the same period last year. With respect to second quarter 2025 average balances by deposit category:

  • Noninterest-bearing demand deposits increased $9 million from the prior quarter and decreased $63 million from the same period last year to $5.6 billion.
  • Savings increased $60 million from the prior quarter and increased $89 million from the same period last year to $5.2 billion.
  • Interest-bearing demand deposits decreased $348 million from the prior quarter and increased $418 million from the same period last year to $7.7 billion.
  • Money market deposits decreased $91 million from the prior quarter and decreased $6 million from the same period last year to $6.0 billion.
  • Brokered CDs decreased $225 million from the prior quarter and increased $162 million from the same period last year to $4.1 billion.
  • Other time deposits decreased $31 million from the prior quarter and increased $725 million from the same period last year to $3.7 billion.
  • Network transaction deposits decreased $4 million from the prior quarter and increased $249 million from the same period last year to $1.8 billion.

Second quarter 2025 period end deposits of $34.1 billion decreased 3%, or $1.0 billion, from the prior quarter and increased 4%, or $1.5 billion, from the same period last year. With respect to second quarter 2025 period end balances by deposit category:

  • Noninterest-bearing demand deposits decreased $353 million from the prior quarter and decreased $33 million from the same period last year to $5.8 billion.
  • Savings increased $44 million from the prior quarter and increased $135 million from the same period last year to $5.3 billion.
  • Interest-bearing demand deposits decreased $380 million from the prior quarter and increased $297 million from the same period last year to $7.5 billion.
  • Money market deposits decreased $225 million from the prior quarter and increased $33 million from the same period last year to $5.9 billion.
  • Brokered CDs decreased $125 million from the prior quarter and increased $10 million from the same period last year to $4.1 billion.
  • Other time deposits increased $82 million from the prior quarter and increased $724 million from the same period last year to $3.8 billion.
  • Network transaction deposits decreased $91 million from the prior quarter and increased $289 million from the same period last year to $1.8 billion.
  • Core customer deposits1 decreased $833 million from the prior quarter and increased $1.2 billion from the same period last year to $28.3 billion.

We now expect 2025 period end total deposit growth of 1% to 3% and continue to expect period end core customer deposit growth of 4% to 5% as compared to the year ended December 31, 2024.

1 This is a non-GAAP financial measure. See financial tables for a reconciliation of non-GAAP financial measures to GAAP financial measures.

Net Interest Income and Net Interest Margin

Second quarter 2025 net interest income of $300 million increased $14 million from the prior quarter and increased $43 million from the same period last year. The net interest margin increased to 3.04%, reflecting a 7 basis point increase from the prior quarter and a 29 basis point increase from the same period last year.

  • The average yield on total loans for the second quarter of 2025 increased 6 basis points from the prior quarter and decreased 32 basis points from the same period last year to 5.89%.
  • The average cost of total interest-bearing liabilities for the second quarter of 2025 decreased 4 basis points from the prior quarter and decreased 58 basis points from the same period last year to 3.02%.
  • The net free funds benefit for the second quarter of 2025 decreased 2 basis points from the prior quarter and decreased 14 basis points from the same period last year to 0.56%.

Based on our latest forecasts for balance sheet growth and mix, and current market conditions, we now expect total net interest income growth of 14% to 15% in 2025.

Noninterest Income

Second quarter 2025 total noninterest income of $67 million increased $8 million from the prior quarter and increased $2 million from the same period last year. The increase relative to the prior quarter was primarily driven by a $7 million loss recognized in the first quarter of 2025 related to the settlement of the mortgage sale originally announced in December of 2024. With respect to second quarter 2025 noninterest income line items:

  • Capital markets, net increased $1 million from the prior quarter and $1 million from the same period a year ago.
  • Card-based fees increased $1 million from the prior quarter and decreased $1 million from the same period last year.
  • Wealth management fees increased $1 million from the prior quarter and increased slightly from the same period last year.

After adjusting to exclude the fourth quarter 2024 and first quarter 2025 impacts of the mortgage and investment securities sales we announced in December 2024, we now expect total noninterest income growth of between 1% and 2% in 2025.

Noninterest Expense

Second quarter 2025 total noninterest expense of $209 million decreased $1 million from the prior quarter and increased $13 million from the same period last year. With respect to second quarter 2025 noninterest expense line items:

  • Personnel expense increased $3 million from the prior quarter and increased $5 million from the same period last year.
  • Business development and advertising expense increased $1 million from the prior quarter and increased slightly from the same period last year.
  • Legal and professional expense increased $1 million from the prior quarter and increased $2 million from the same period last year.
  • Occupancy expense decreased $3 million from the prior quarter and decreased slightly from the same period last year.
  • FDIC assessment expense decreased $1 million from the prior quarter and increased $3 million from the same period last year.

After adjusting to exclude the $14 million impact of the loss on prepayments of FHLB advances recognized in the fourth quarter of 2024, we now expect total noninterest expense to grow by 4% to 5% in 2025.

Taxes

Second quarter 2025 tax expense was $28 million, compared to $19 million of tax expense in the prior quarter and $13 million of tax benefit in the same period last year. The effective tax rate for the second quarter of 2025 was 20.34%, compared to 16.03% in the prior quarter.

We continue to expect the annual effective tax rate to be between 19% and 21% in 2025.

Credit

Second quarter 2025 provision for credit losses on loans was $18 million, compared to a provision of $13 million in the prior quarter and a provision of $23 million in the same period last year. With respect to second quarter 2025 credit quality:

  • Nonaccrual loans of $113 million decreased $22 million from the prior quarter and decreased $41 million from the same period last year. The nonaccrual loans to total loans ratio was 0.37% in the first quarter, down from 0.44% in the prior quarter and down from 0.52% in the same period last year.
  • Second quarter 2025 net charge offs of $13 million increased compared to net charge offs of $9 million in the prior quarter and decreased compared to net charge offs of $21 million in the same period last year.
  • The allowance for credit losses on loans (ACLL) of $412 million increased $5 million compared to the prior quarter and increased $22 million compared to the same period last year. The ACLL to total loans ratio was 1.35% in the first quarter, up from 1.34% in the prior quarter and up from 1.32% in the same period last year.

In 2025, 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 10.20% at June 30, 2025. 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 2025 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 24, 2025. 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 2025 earnings call. The second quarter 2025 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 $44 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 nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, Minnesota and Missouri. 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)








(Dollars in thousands)

June 30,
2025

March 31,
2025

Sequential
Quarter
Change

December 31,
2024

September 30,
2024

June 30,
2024

Comparable
Quarter
Change

Assets








Cash and due from banks

$      521,167

$        521,323

$          (156)

$       544,059

$      554,631

$      470,818

$       50,349

Interest-bearing deposits in other financial institutions

738,938

711,033

27,905

453,590

408,101

484,677

254,261

Federal funds sold and securities purchased under agreements to resell

—

105

(105)

21,955

4,310

3,600

(3,600)

Investment securities available for sale, at fair value

5,036,508

4,796,570

239,938

4,581,434

4,152,527

3,912,730

1,123,778

Investment securities held to maturity, net, at amortized cost

3,672,101

3,705,793

(33,692)

3,738,687

3,769,150

3,799,035

(126,934)

Equity securities

25,912

23,331

2,581

23,242

23,158

22,944

2,967

Federal Home Loan Bank and Federal Reserve Bank stocks, at cost

278,356

194,244

84,112

179,665

178,168

212,102

66,254

Residential loans held for sale

96,804

47,611

49,193

646,687

67,219

83,795

13,009

Commercial loans held for sale

8,406

7,910

496

32,634

11,833

—

8,406

Loans

30,607,605

30,294,127

313,478

29,768,586

29,990,897

29,618,271

989,334

Allowance for loan losses

(376,515)

(371,348)

(5,167)

(363,545)

(361,765)

(355,844)

(20,671)

Loans, net

30,231,091

29,922,780

308,311

29,405,041

29,629,131

29,262,428

968,663

Tax credit and other investments

247,111

254,187

(7,076)

258,886

265,385

246,300

811

Premises and equipment, net

377,372

377,521

(149)

379,093

373,816

369,968

7,403

Bank and corporate owned life insurance

691,470

690,551

919

689,000

686,704

683,451

8,019

Goodwill

1,104,992

1,104,992

—

1,104,992

1,104,992

1,104,992

—

Other intangible assets, net

27,255

29,457

(2,203)

31,660

33,863

36,066

(8,811)

Mortgage servicing rights, net

85,245

86,251

(1,005)

87,683

81,977

85,640

(395)

Interest receivable

168,627

159,729

8,898

167,772

167,777

173,106

(4,479)

Other assets

682,373

675,748

6,625

676,987

698,073

672,256

10,118

Total assets

$  43,993,729

$    43,309,136

$     684,593

$   43,023,068

$  42,210,815

$  41,623,908

$  2,369,821

Liabilities and stockholders' equity








Noninterest-bearing demand deposits

$    5,782,487

$      6,135,946

$    (353,459)

$     5,775,657

$   5,857,421

$   5,815,045

$     (32,558)

Interest-bearing deposits

28,365,079

29,060,767

(695,688)

28,872,777

27,696,877

26,875,995

1,489,084

Total deposits

34,147,565

35,196,713

(1,049,147)

34,648,434

33,554,298

32,691,039

1,456,526

Short-term funding

75,585

311,335

(235,750)

470,369

917,028

859,539

(783,955)

FHLB advances

3,879,489

2,027,297

1,852,192

1,853,807

1,913,294

2,673,046

1,206,443

Other long-term funding

593,530

591,382

2,147

837,635

844,342

536,113

57,417

Allowance for unfunded commitments

35,276

35,276

—

38,776

35,776

33,776

1,500

Accrued expenses and other liabilities

481,503

460,574

20,929

568,485

532,842

588,057

(106,554)

Total liabilities

39,212,948

38,622,578

590,370

38,417,506

37,797,579

37,381,571

1,831,377

Stockholders' equity








Preferred equity

194,112

194,112

—

194,112

194,112

194,112

—

Common equity

4,586,669

4,492,446

94,223

4,411,450

4,219,125

4,048,225

538,444

Total stockholders' equity

4,780,781

4,686,558

94,223

4,605,562

4,413,236

4,242,337

538,444

Total liabilities and stockholders' equity

$  43,993,729

$    43,309,136

$     684,593

$   43,023,068

$  42,210,815

$  41,623,908

$  2,369,821

‌‌

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 in thousands, except per share data)

2Q25

2Q24

Dollar
Change

Percentage
Change

June 2025

June 2024

Dollar
Change

Percentage
Change

Interest income









Interest and fees on loans

$     447,781

$     456,788

$   (9,007)

(2) %

$     881,080

$     911,260

$ (30,179)

(3) %

Interest and dividends on investment securities









Taxable

71,174

50,278

20,896

42 %

140,962

96,826

44,136

46 %

Tax-exempt

13,902

14,669

(767)

(5) %

27,858

29,443

(1,585)

(5) %

Other interest

12,679

8,539

4,140

48 %

21,921

16,133

5,788

36 %

Total interest income

545,536

530,274

15,262

3 %

1,071,821

1,053,662

18,159

2 %

Interest expense









Interest on deposits

197,656

221,062

(23,406)

(11) %

406,796

447,293

(40,497)

(9) %

Interest on federal funds purchased and securities sold under agreements to repurchase

2,004

2,303

(299)

(13) %

5,626

5,166

460

9 %

Interest on other short-term funding

287

6,077

(5,790)

(95) %

695

10,785

(10,090)

(94) %

Interest on FHLB advances

34,889

34,143

746

2 %

50,979

55,814

(4,835)

(9) %

Interest on other long-term funding

10,700

10,096

604

6 %

21,785

20,154

1,631

8 %

Total interest expense

245,536

273,681

(28,145)

(10) %

485,881

539,211

(53,330)

(10) %

Net interest income

300,000

256,593

43,407

17 %

585,940

514,451

71,490

14 %

Provision for credit losses

17,996

23,008

(5,012)

(22) %

30,999

47,009

(16,010)

(34) %

Net interest income after provision for credit losses

282,004

233,585

48,419

21 %

554,941

467,442

87,499

19 %

Noninterest income









Wealth management fees

23,025

22,628

396

2 %

45,522

44,323

1,200

3 %

Service charges and deposit account fees

13,147

12,263

883

7 %

25,961

24,702

1,259

5 %

Card-based fees

11,200

11,975

(775)

(6) %

21,642

23,242

(1,600)

(7) %

Other fee-based revenue

4,995

4,857

138

3 %

10,245

9,259

986

11 %

Capital markets, net 

5,765

4,685

1,080

23 %

10,110

8,735

1,374

16 %

Mortgage banking, net

4,213

2,505

1,709

68 %

8,035

5,166

2,869

56 %

Loss on mortgage portfolio sale

—

—

—

N/M

(6,976)

—

(6,976)

N/M

Bank and corporate owned life insurance

4,135

4,584

(449)

(10) %

9,339

7,154

2,185

31 %

Asset losses, net

(1,735)

(627)

(1,108)

177 %

(2,613)

(933)

(1,680)

180 %

Investment securities gains, net

7

67

(60)

(90) %

11

3,947

(3,935)

(100) %

Other 

2,226

2,222

4

— %

4,477

4,549

(72)

(2) %

Total noninterest income

66,977

65,159

1,818

3 %

125,754

130,144

(4,390)

(3) %

Noninterest expense









Personnel

126,994

121,581

5,413

4 %

250,890

240,976

9,914

4 %

Technology

26,508

27,161

(654)

(2) %

53,646

53,362

285

1 %

Occupancy

12,644

13,128

(484)

(4) %

28,025

26,761

1,264

5 %

Business development and advertising

7,748

7,535

213

3 %

14,134

14,052

82

1 %

Equipment

4,494

4,450

44

1 %

9,021

9,049

(28)

— %

Legal and professional

6,674

4,429

2,245

51 %

12,757

9,101

3,656

40 %

Loan and foreclosure costs

2,705

1,793

913

51 %

5,299

3,771

1,528

41 %

FDIC assessment

9,708

7,131

2,577

36 %

20,144

21,077

(933)

(4) %

Other intangible amortization

2,203

2,203

—

— %

4,405

4,405

—

— %

Other

9,674

6,450

3,224

50 %

21,648

10,963

10,685

97 %

Total noninterest expense

209,352

195,861

13,492

7 %

419,971

393,518

26,453

7 %

Income before income taxes

139,629

102,884

36,745

36 %

260,724

204,068

56,656

28 %

Income tax expense (benefit)

28,399

(12,689)

41,089

N/M

47,808

7,326

40,482

N/M

Net income

111,230

115,573

(4,344)

(4) %

212,916

196,742

16,174

8 %

Preferred stock dividends

2,875

2,875

—

— %

5,750

5,750

—

— %

Net income available to common equity

$     108,355

$     112,698

$   (4,344)

(4) %

$     207,166

$     190,992

$   16,174

8 %

‌









Pre-tax pre-provision income (loss)(a)

157,625

125,892

31,733

25 %

291,723

251,077

40,646

16 %

Earnings per common share









Basic

$          0.65

$          0.75

$     (0.10)

(13) %

$          1.25

$          1.27

$     (0.02)

(2) %

Diluted

$          0.65

$          0.74

$     (0.09)

(12) %

$          1.24

$          1.26

$     (0.02)

(2) %

Average common shares outstanding









Basic

164,936

149,872

15,063

10 %

165,081

149,864

15,217

10 %

Diluted

166,343

151,288

15,055

10 %

166,506

151,310

15,196

10 %


‌‌

N/M = Not meaningful

Numbers may not sum due to rounding.

(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

(Dollars and shares in thousands, except per share data)



Sequential Quarter




2Q25

1Q25

Dollar
Change

Percentage
Change

4Q24

3Q24

2Q24

Interest income








Interest and fees on loans

$  447,781

$  433,299

$    14,482

3 %

$  453,253

$  465,728

$  456,788

Interest and dividends on investment securities








Taxable

71,174

69,788

1,387

2 %

50,524

51,229

50,278

Tax-exempt

13,902

13,956

(53)

— %

14,469

14,660

14,669

Other interest

12,679

9,243

3,436

37 %

10,478

8,701

8,539

Total interest income

545,536

526,285

19,251

4 %

528,724

540,318

530,274

Interest expense








Interest on deposits

197,656

209,140

(11,484)

(5) %

222,888

231,623

221,062

Interest on federal funds purchased and securities sold under agreements to repurchase

2,004

3,622

(1,618)

(45) %

3,203

3,385

2,303

Interest on other short-term funding

287

408

(121)

(30) %

668

6,144

6,077

Interest on FHLB advances

34,889

16,090

18,799

117 %

17,908

24,799

34,143

Interest on other long-term funding

10,700

11,085

(385)

(3) %

13,769

11,858

10,096

Total interest expense

245,536

240,345

5,192

2 %

258,436

277,809

273,681

Net interest income

300,000

285,941

14,059

5 %

270,289

262,509

256,593

Provision for credit losses

17,996

13,003

4,993

38 %

16,986

20,991

23,008

Net interest income after provision for credit losses

282,004

272,938

9,066

3 %

253,303

241,518

233,585

Noninterest income








Wealth management fees

23,025

22,498

527

2 %

24,103

24,144

22,628

Service charges and deposit account fees

13,147

12,814

332

3 %

13,232

13,708

12,263

Card-based fees

11,200

10,442

758

7 %

11,948

11,731

11,975

Other fee-based revenue

4,995

5,251

(256)

(5) %

5,182

5,057

4,857

Capital markets, net

5,765

4,345

1,420

33 %

9,032

4,317

4,685

Mortgage banking, net

4,213

3,822

391

10 %

3,387

2,132

2,505

Loss on mortgage portfolio sale

—

(6,976)

6,976

(100) %

(130,406)

—

—

Bank and corporate owned life insurance

4,135

5,204

(1,069)

(21) %

2,322

4,001

4,584

Asset (losses) gains, net

(1,735)

(878)

(857)

98 %

364

(474)

(627)

Investment securities gains (losses), net

7

4

3

66 %

(148,194)

100

67

Other

2,226

2,251

(25)

(1) %

2,257

2,504

2,222

Total noninterest income (loss)

66,977

58,776

8,201

14 %

(206,772)

67,221

65,159

Noninterest expense








Personnel

126,994

123,897

3,097

2 %

125,944

121,036

121,581

Technology

26,508

27,139

(631)

(2) %

26,984

27,217

27,161

Occupancy

12,644

15,381

(2,736)

(18) %

14,325

13,536

13,128

Business development and advertising

7,748

6,386

1,362

21 %

7,408

6,683

7,535

Equipment

4,494

4,527

(33)

(1) %

4,729

4,653

4,450

Legal and professional

6,674

6,083

591

10 %

6,861

5,639

4,429

Loan and foreclosure costs

2,705

2,594

112

4 %

1,951

2,748

1,793

FDIC assessment

9,708

10,436

(728)

(7) %

9,139

8,223

7,131

Other intangible amortization

2,203

2,203

—

— %

2,203

2,203

2,203

Loss on prepayments of FHLB advances

—

—

—

N/M

14,243

—

—

Other

9,674

11,974

(2,300)

(19) %

10,496

8,659

6,450

Total noninterest expense

209,352

210,619

(1,267)

(1) %

224,282

200,597

195,861

Income (loss) before income taxes

139,629

121,095

18,534

15 %

(177,752)

108,142

102,884

Income tax expense (benefit)

28,399

19,409

8,991

46 %

(16,137)

20,124

(12,689)

Net income (loss)

111,230

101,687

9,543

9 %

(161,615)

88,018

115,573

Preferred stock dividends

2,875

2,875

—

— %

2,875

2,875

2,875

Net income (loss) available to common equity

$  108,355

$    98,812

$     9,543

10 %

$ (164,490)

$    85,143

$  112,698









Pre-tax pre-provision income (loss)(a)

157,625

134,098

23,527

18 %

(160,766)

129,133

125,892

Earnings (loss) per common share








Basic

$       0.65

$       0.60

$       0.05

8 %

$      (1.04)

$       0.56

$       0.75

Diluted

$       0.65

$       0.59

$       0.06

10 %

$      (1.03)

$       0.56

$       0.74

Average common shares outstanding








Basic

164,936

165,228

(292)

— %

157,710

150,247

149,872

Diluted

166,343

166,604

(261)

— %

159,164

151,492

151,288


‌

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

(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

Selected Quarterly Information








(Dollars and shares in thousands, except per share data and as noted)

YTD

Jun 2025

YTD

Jun 2024

2Q25

1Q25

4Q24

3Q24

2Q24

Per common share data








Dividends

$      0.46

$      0.44

$             0.23

$            0.23

$            0.23

$             0.22

$             0.22

Market value:








High

25.63

22.48

24.56

25.63

28.14

23.95

22.48

Low

18.91

19.73

18.91

21.06

20.64

20.07

19.90

Close



24.39

22.53

23.90

21.54

21.15

Book value / share



27.67

27.09

26.55

27.90

26.85

Tangible book value (TBV) / share(a)



20.84

20.25

19.71

20.37

19.28

Performance ratios (annualized)








Return on average assets

1.00 %

0.97 %

1.03 %

0.97 %

(1.53) %

0.85 %

1.13 %

Noninterest expense / average assets

1.97 %

1.93 %

1.93 %

2.00 %

2.12 %

1.93 %

1.92 %

Effective tax rate

18.34 %

3.59 %

20.34 %

16.03 %

N/M

18.61 %

(12.33) %

Dividend payout ratio(b)

36.80 %

34.65 %

35.38 %

38.33 %

N/M

39.29 %

29.33 %

Net interest margin

3.01 %

2.77 %

3.04 %

2.97 %

2.81 %

2.78 %

2.75 %

Selected trend information








Assets under management, at market value(c)



$         15,537

$         14,685

$         14,773

$         15,033

$         14,304

Shares repurchased during period(d)

900

900

—

900

—

—

—

Shares outstanding, end of period



165,778

165,807

166,178

151,213

150,785

Loans / deposits ratio



89.63 %

86.07 %

85.92 %

89.38 %

90.60 %

Stockholders' equity / assets ratio



10.87 %

10.82 %

10.70 %

10.46 %

10.19 %

Risk-based capital(e)(f)








Total risk-weighted assets



$  34,241,408

$  33,800,823

$  33,950,173

$  33,326,479

$  32,767,830

Common equity Tier 1



$    3,493,316

$    3,417,432

$    3,396,836

$    3,238,155

$    3,172,298

Common equity Tier 1 capital ratio



10.20 %

10.11 %

10.01 %

9.72 %

9.68 %

Tier 1 capital ratio



10.77 %

10.68 %

10.58 %

10.30 %

10.27 %

Total capital ratio



12.83 %

12.75 %

12.61 %

12.36 %

12.34 %

Tier 1 leverage ratio



8.72 %

8.69 %

8.73 %

8.49 %

8.37 %


‌

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

(a)

This is a non-GAAP financial measure.  See the non-GAAP financial measures reconciliation below for a reconciliation to GAAP financial measures.

(b)

Ratio is based upon basic earnings per common share.

(c)

In millions. Excludes assets held in brokerage accounts.

(d)

Does not include repurchases related to tax withholding on equity compensation.

(e)

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.

(f)

June 30, 2025 data is estimated.

 

Associated Banc-Corp

Selected Asset Quality Information






(Dollars in thousands)

Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %
Change

Allowance for loan losses








Balance at beginning of period

$    371,348

$    363,545

2 %

$    361,765

$    355,844

$    356,006

4 %

Provision for loan losses

18,000

16,500

9 %

14,000

19,000

21,000

(14) %

Charge offs

(18,348)

(13,714)

34 %

(13,770)

(15,337)

(23,290)

(21) %

Recoveries

5,515

5,017

10 %

1,551

2,258

2,127

159 %

Net (charge offs) recoveries

(12,833)

(8,698)

48 %

(12,220)

(13,078)

(21,163)

(39) %

Balance at end of period

$    376,515

$    371,348

1 %

$    363,545

$    361,765

$    355,844

6 %

Allowance for unfunded commitments








Balance at beginning of period

$      35,276

$      38,776

(9) %

$      35,776

$      33,776

$      31,776

11 %

Provision for unfunded commitments

—

(3,500)

(100) %

3,000

2,000

2,000

(100) %

Balance at end of period

35,276

35,276

— %

38,776

35,776

33,776

4 %

Allowance for credit losses on loans (ACLL)

$    411,791

$    406,624

1 %

$    402,322

$    397,541

$    389,620

6 %

Provision for credit losses on loans

$      18,000

$      13,000

38 %

$      17,000

$      21,000

$      23,000

(22) %

(Dollars in thousands)

Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %

Change

Net (charge offs) recoveries








Commercial and industrial

$      (1,826)

$      (4,726)

(61) %

$      (2,406)

$    (10,649)

$    (13,676)

(87) %

Commercial real estate—owner occupied

—

—

N/M

—

—

1

(100) %

Commercial and business lending

(1,826)

(4,726)

(61) %

(2,406)

(10,649)

(13,674)

(87) %

Commercial real estate—investor

(8,493)

(892)

N/M

(6,617)

(1)

(4,569)

86 %

Real estate construction

121

30

N/M

4

2

28

N/M

Commercial real estate lending

(8,372)

(863)

N/M

(6,612)

2

(4,541)

84 %

Total commercial

(10,198)

(5,589)

82 %

(9,018)

(10,647)

(18,216)

(44) %

Residential mortgage

(302)

197

N/M

(239)

(160)

(289)

4 %

Auto finance

(689)

(1,519)

(55) %

(1,782)

(1,281)

(1,480)

(53) %

Home equity

237

289

(18) %

277

424

238

— %

Other consumer

(1,881)

(2,076)

(9) %

(1,457)

(1,414)

(1,417)

33 %

Total consumer

(2,636)

(3,109)

(15) %

(3,202)

(2,431)

(2,947)

(11) %

Total net charge offs

$    (12,833)

$      (8,698)

48 %

$    (12,220)

$    (13,078)

$    (21,163)

(39) %

(in basis points)

Jun 30, 2025

Mar 31, 2025


Dec 31, 2024

Sep 30, 2024

Jun 30, 2024


Net (charge offs) recoveries to average loans (annualized)








Commercial and industrial

(7)

(18)


(9)

(43)

(55)


Commercial real estate—owner occupied

—

—


—

—

—


Commercial and business lending

(6)

(16)


(8)

(39)

(50)


Commercial real estate—investor

(61)

(7)


(51)

—

(37)


Real estate construction

3

1


—

—

—


Commercial real estate lending

(45)

(5)


(37)

—

(25)


Total commercial

(21)

(12)


(19)

(23)

(40)


Residential mortgage

(2)

1


(1)

(1)

(1)


Auto finance

(9)

(22)


(26)

(19)

(24)


Home equity

14

18


17

26

15


Other consumer

(244)

(268)


(208)

(216)

(221)


Total consumer

(10)

(11)


(11)

(8)

(10)


Total net charge offs

(17)

(12)


(16)

(18)

(29)


(Dollars in thousands)

Jun 30, 2025

Mar 31, 2025

Seql Qtr %

Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %

Change

Credit quality








Nonaccrual loans

$    112,999

$    134,808

(16) %

$    123,260

$    128,476

$    154,423

(27) %

Other real estate owned (OREO)

34,287

23,475

46 %

20,217

18,830

8,325

N/M

Repossessed assets

882

688

28 %

687

793

671

31 %

Total nonperforming assets

$    148,169

$    158,971

(7) %

$    144,164

$    148,098

$    163,418

(9) %

Loans 90 or more days past due and still accruing

$      14,160

$        3,036

N/M

$        3,189

$        7,107

$        2,354

N/M

Allowance for credit losses on loans to total loans

1.35 %

1.34 %


1.35 %

1.33 %

1.32 %


Allowance for credit losses on loans to nonaccrual loans

364.42 %

301.63 %


326.40 %

309.43 %

252.31 %


Nonaccrual loans to total loans

0.37 %

0.44 %


0.41 %

0.43 %

0.52 %


Nonperforming assets to total loans plus OREO and repossessed assets

0.48 %

0.52 %


0.48 %

0.49 %

0.55 %


Nonperforming assets to total assets

0.34 %

0.37 %


0.34 %

0.35 %

0.39 %


 

Associated Banc-Corp
Selected Asset Quality Information (continued)

(Dollars in thousands)

Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %
Change

Nonaccrual loans








Commercial and industrial

$           6,945

$         12,898

(46) %

$         19,084

$         14,369

$         21,190

(67) %

Commercial real estate—owner occupied

—

1,501

(100) %

1,501

9,285

1,851

(100) %

Commercial and business lending

6,945

14,399

(52) %

20,585

23,654

23,041

(70) %

Commercial real estate—investor

15,805

31,689

(50) %

16,705

18,913

48,249

(67) %

Real estate construction

146

125

17 %

30

15

16

N/M

Commercial real estate lending

15,950

31,814

(50) %

16,735

18,928

48,265

(67) %

Total commercial

22,895

46,213

(50) %

37,320

42,582

71,306

(68) %

Residential mortgage

73,817

72,455

2 %

70,038

70,138

68,058

8 %

Auto finance

8,004

7,692

4 %

7,402

7,456

6,986

15 %

Home equity

8,201

8,275

(1) %

8,378

8,231

7,996

3 %

Other consumer

82

173

(53) %

122

70

77

6 %

Total consumer

90,104

88,595

2 %

85,941

85,894

83,117

8 %

Total nonaccrual loans

$       112,999

$       134,808

(16) %

$       123,260

$       128,476

$       154,423

(27) %


Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %
Change

Accruing loans 30-89 days past due








Commercial and industrial

$           2,593

$           7,740

(66) %

$           1,260

$           1,212

$           2,052

26 %

Commercial real estate—owner occupied

5,628

1,156

N/M

1,634

2,209

—

N/M

Commercial and business lending

8,221

8,896

(8) %

2,893

3,421

2,052

N/M

Commercial real estate—investor

1,042

2,463

(58) %

36,391

10,746

1,023

2 %

Real estate construction

90

—

N/M

21

88

—

N/M

Commercial real estate lending

1,132

2,463

(54) %

36,412

10,834

1,023

11 %

Total commercial

9,353

11,360

(18) %

39,305

14,255

3,075

N/M

Residential mortgage

8,744

13,568

(36) %

14,892

13,630

10,374

(16) %

Auto finance

13,149

12,522

5 %

14,850

15,458

15,814

(17) %

Home equity

4,338

3,606

20 %

4,625

3,146

3,694

17 %

Other consumer(a)

2,578

2,381

8 %

3,128

2,163

1,995

29 %

Total consumer

28,810

32,076

(10) %

37,496

34,397

31,877

(10) %

Total accruing loans 30-89 days past due

$         38,163

$         43,435

(12) %

$         76,801

$         48,651

$         34,952

9 %

‌

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

(a)

Excluding guaranteed student loans.

 

Associated Banc-Corp

Net Interest Income Analysis - Fully Tax-Equivalent Basis - Sequential and Comparable Quarter(a)





Three Months Ended


June 30, 2025

March 31, 2025

June 30, 2024

(Dollars in thousands)

Average

Balance

Interest

Income /
Expense

Average
Yield /Rate

Average

Balance

Interest

Income /
Expense

Average
Yield /Rate

Average

Balance

Interest

Income /
Expense

Average
Yield /Rate

Assets










Earning assets










Loans (b) (c)










Commercial and industrial

$  10,981,221

$    179,955

6.57 %

$  10,583,318

$    169,785

6.50 %

$     9,915,894

$   181,615

7.37 %

Commercial real estate—owner occupied

1,114,054

16,014

5.77 %

1,141,167

16,200

5.76 %

1,095,334

16,577

6.09 %

Commercial and business lending

12,095,274

195,969

6.50 %

11,724,484

185,985

6.43 %

11,011,228

198,191

7.24 %

Commercial real estate—investor

5,582,333

91,569

6.58 %

5,415,412

87,089

6.52 %

4,964,394

88,737

7.19 %

Real estate construction

1,869,708

33,883

7.27 %

1,898,582

33,945

7.25 %

2,285,379

45,466

8.00 %

Commercial real estate lending

7,452,041

125,452

6.75 %

7,313,994

121,034

6.71 %

7,249,773

134,203

7.45 %

Total commercial

19,547,316

321,421

6.59 %

19,038,479

307,020

6.54 %

18,261,000

332,394

7.32 %

Residential mortgage

7,034,607

64,995

3.70 %

7,256,320

66,823

3.68 %

7,905,236

69,389

3.51 %

Auto finance

2,933,161

41,156

5.63 %

2,844,730

39,176

5.59 %

2,524,107

35,021

5.58 %

Home equity

667,339

12,098

7.25 %

657,625

12,052

7.34 %

630,855

12,975

8.23 %

Other consumer

309,578

8,644

11.20 %

313,828

8,773

11.34 %

258,366

7,528

11.72 %

Total consumer

10,944,685

126,893

4.64 %

11,072,503

126,824

4.61 %

11,318,564

124,913

4.42 %

Total loans

30,492,001

448,313

5.89 %

30,110,982

433,844

5.83 %

29,579,564

457,307

6.21 %

Investments










Taxable securities

6,578,690

71,174

4.33 %

6,398,584

69,788

4.36 %

5,680,757

50,479

3.55 %

Tax-exempt securities(b)

2,004,725

17,598

3.51 %

2,016,144

17,666

3.50 %

2,116,174

17,896

3.38 %

Other short-term investments

999,294

12,679

5.09 %

757,227

9,243

4.95 %

620,943

9,304

6.03 %

Total investments

9,582,709

101,451

4.24 %

9,171,955

96,696

4.22 %

8,417,874

77,680

3.69 %

Total earning assets and related interest income

40,074,710

$    549,764

5.50 %

39,282,937

$    530,540

5.45 %

37,997,438

$   534,987

5.65 %

Other assets, net

3,345,353



3,347,690



3,103,168



Total assets

$  43,420,063



$  42,630,627



$   41,100,606



Liabilities and stockholders' equity










Interest-bearing liabilities










Interest-bearing deposits










Savings

$   5,222,869

$      17,139

1.32 %

$   5,162,468

$      17,929

1.41 %

$     5,133,688

$     21,972

1.72 %

Interest-bearing demand

7,683,402

42,485

2.22 %

8,031,707

45,430

2.29 %

7,265,621

48,109

2.66 %

Money market

5,988,947

38,695

2.59 %

6,079,551

39,560

2.64 %

5,995,005

46,391

3.11 %

Network transaction deposits

1,843,998

20,211

4.40 %

1,847,972

20,067

4.40 %

1,595,312

21,416

5.40 %

Brokered CDs

4,089,844

45,418

4.45 %

4,315,311

49,292

4.63 %

3,927,727

52,306

5.36 %

Other time deposits

3,725,205

33,707

3.63 %

3,756,332

36,862

3.98 %

2,999,936

30,867

4.14 %

Total interest-bearing deposits

28,554,266

197,656

2.78 %

29,193,341

209,140

2.91 %

26,917,289

221,062

3.30 %

Federal funds purchased and securities sold under agreements to repurchase

220,872

2,004

3.64 %

375,910

3,622

3.91 %

213,921

2,303

4.33 %

Other short-term funding

17,580

287

6.55 %

31,312

408

5.28 %

561,596

7,044

5.04 %

FHLB advances

3,221,749

34,889

4.34 %

1,595,972

16,090

4.09 %

2,432,195

34,143

5.65 %

Other long-term funding

592,664

10,700

7.22 %

627,658

11,085

7.06 %

533,670

10,096

7.57 %

Total short and long-term funding

4,052,863

47,880

4.74 %

2,630,852

31,205

4.79 %

3,741,381

53,586

5.75 %

Total interest-bearing liabilities and related interest expense

32,607,129

$    245,536

3.02 %

31,824,193

$    240,345

3.06 %

30,658,670

$   274,648

3.60 %

Noninterest-bearing demand deposits

5,648,935



5,640,123



5,712,115



Other liabilities

431,338



535,732



563,616



Stockholders' equity

4,732,661



4,630,578



4,166,204



Total liabilities and stockholders' equity

$  43,420,063



$  42,630,627



$   41,100,606



Interest rate spread



2.48 %



2.39 %



2.05 %

Net free funds



0.56 %



0.58 %



0.70 %

Fully tax-equivalent net interest income and net interest margin


$    304,228

3.04 %


$    290,195

2.97 %


$   260,340

2.75 %

Fully tax-equivalent adjustment


4,228



4,254



3,747


Net interest income


$    300,000



$    285,941



$   256,593



‌

Numbers may not recalculate due to rounding conventions.

(a)

Prior periods have 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)

Nonaccrual loans and 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(a)


Six Months Ended June 30,


2025

2024

(Dollars in thousands)

Average

Balance

Interest

Income /
Expense

Average
Yield / Rate

Average

Balance

Interest

Income /
Expense

Average
Yield / Rate

Assets







Earning assets







Loans (b) (c)







Commercial and industrial

$   10,783,368

$          349,740

6.54 %

$    9,822,806

$          359,302

7.35 %

Commercial real estate—owner occupied

1,127,535

32,214

5.76 %

1,090,935

32,979

6.08 %

Commercial and business lending

11,910,904

381,954

6.46 %

10,913,741

392,281

7.23 %

Commercial real estate—investor

5,499,334

178,658

6.55 %

5,002,956

181,099

7.28 %

Real estate construction

1,884,065

67,829

7.26 %

2,316,911

91,954

7.98 %

Commercial real estate lending

7,383,399

246,486

6.73 %

7,319,867

273,053

7.50 %

Total commercial

19,294,303

628,440

6.57 %

18,233,608

665,334

7.34 %

Residential mortgage 

7,144,851

131,818

3.69 %

7,965,375

138,120

3.47 %

Auto finance

2,889,190

80,332

5.61 %

2,448,914

67,624

5.55 %

Home equity

662,509

24,150

7.29 %

563,992

26,036

9.23 %

Other consumer

311,691

17,417

11.27 %

262,404

15,185

11.64 %

Total consumer

11,008,241

253,717

4.62 %

11,240,684

246,965

4.40 %

Total loans

30,302,544

882,157

5.86 %

29,474,293

912,299

6.22 %

Investments







Taxable securities

6,489,135

140,962

4.34 %

5,598,890

97,206

3.47 %

Tax-exempt securities(b)

2,010,403

35,264

3.51 %

2,124,763

35,920

3.38 %

Other short-term investments

878,929

21,921

5.03 %

598,888

17,615

5.91 %

Total investments

9,378,467

198,147

4.23 %

8,322,541

150,741

3.62 %

Total earning assets and related interest income

39,681,011

$       1,080,304

5.48 %

37,796,834

$       1,063,040

5.65 %

Other assets, net

3,346,515



3,135,876



Total assets

$   43,027,526



$   40,932,710



Liabilities and stockholders' equity







Interest-bearing liabilities







Interest-bearing deposits







Savings

$    5,192,835

$            35,068

1.36 %

$    5,030,859

$            43,719

1.75 %

Interest-bearing demand

7,856,593

87,915

2.26 %

7,377,870

98,099

2.67 %

Money market

6,033,999

78,255

2.62 %

6,055,804

93,698

3.11 %

Network transaction deposits

1,845,974

40,278

4.40 %

1,623,625

43,621

5.40 %

Brokered CDs

4,201,955

94,711

4.55 %

4,098,304

109,116

5.35 %

Other time deposits

3,740,683

70,569

3.80 %

2,964,685

59,040

4.00 %

Total interest-bearing deposits

28,872,038

406,796

2.84 %

27,151,147

447,293

3.31 %

Federal funds purchased and securities sold under agreements to repurchase

297,963

5,626

3.81 %

238,950

5,166

4.35 %

Other short-term funding

24,408

695

5.74 %

503,602

12,646

5.05 %

FHLB advances

2,413,352

50,979

4.26 %

1,986,221

55,814

5.65 %

Other long-term funding

610,064

21,785

7.14 %

536,388

20,154

7.51 %

Total short and long-term funding

3,345,786

79,085

4.76 %

3,265,160

93,780

5.77 %

Total interest-bearing liabilities and related interest expense

32,217,824

$          485,881

3.04 %

30,416,308

$          541,073

3.58 %

Noninterest-bearing demand deposits

5,644,554



5,797,084



Other liabilities

483,247



545,526



Stockholders' equity

4,681,901



4,173,793



Total liabilities and stockholders' equity

$   43,027,526



$   40,932,710



Interest rate spread



2.44 %



2.07 %

Net free funds



0.57 %



0.70 %

Fully tax-equivalent net interest income and net interest margin


$          594,423

3.01 %


$          521,967

2.77 %

Fully tax-equivalent adjustment


8,483



7,516


Net interest income


$          585,940



$          514,451



‌

Numbers may not recalculate due to rounding conventions.

(a)

Prior periods have 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)

Nonaccrual loans and loans held for sale have been included in the average balances.

 

Associated Banc-Corp        

Loan and Deposit Composition








(Dollars in thousands)








Period end loan composition

Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %
Change

Commercial and industrial

$   11,281,964

$   10,925,769

3 %

$   10,573,741

$   10,258,899

$    9,970,412

13 %

Commercial real estate—owner occupied

1,101,501

1,118,363

(2) %

1,143,741

1,120,849

1,102,146

— %

Commercial and business lending

12,383,465

12,044,132

3 %

11,717,483

11,379,748

11,072,558

12 %

Commercial real estate—investor

5,370,422

5,597,442

(4) %

5,227,975

5,070,635

5,001,392

7 %

Real estate construction

1,950,267

1,809,054

8 %

1,982,632

2,114,300

2,255,637

(14) %

Commercial real estate lending

7,320,689

7,406,496

(1) %

7,210,607

7,184,934

7,257,029

1 %

Total commercial

19,704,154

19,450,628

1 %

18,928,090

18,564,683

18,329,587

7 %

Residential mortgage

6,949,387

6,999,654

(1) %

7,047,541

7,803,083

7,840,073

(11) %

Auto finance

2,969,495

2,878,765

3 %

2,810,220

2,708,946

2,556,009

16 %

Home equity

676,208

654,140

3 %

664,252

651,379

634,142

7 %

Other consumer

308,361

310,940

(1) %

318,483

262,806

258,460

19 %

Total consumer

10,903,451

10,843,499

1 %

10,840,496

11,426,214

11,288,684

(3) %

Total loans

$   30,607,605

$   30,294,127

1 %

$   29,768,586

$   29,990,897

$   29,618,271

3 %









Quarter average loan composition

Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %
Change

Commercial and industrial(a)

$   10,981,221

$   10,583,318

4 %

$   10,338,865

$    9,884,246

$    9,915,894

11 %

Commercial real estate—owner occupied

1,114,054

1,141,167

(2) %

1,135,624

1,087,144

1,095,334

2 %

Commercial and business lending

12,095,274

11,724,484

3 %

11,474,489

10,971,390

11,011,228

10 %

Commercial real estate—investor

5,582,333

5,415,412

3 %

5,120,608

5,085,090

4,964,394

12 %

Real estate construction

1,869,708

1,898,582

(2) %

2,086,188

2,150,416

2,285,379

(18) %

Commercial real estate lending

7,452,041

7,313,994

2 %

7,206,796

7,235,505

7,249,773

3 %

Total commercial

19,547,316

19,038,479

3 %

18,681,285

18,206,896

18,261,000

7 %

Residential mortgage(a)

7,034,607

7,256,320

(3) %

7,814,056

7,888,290

7,905,236

(11) %

Auto finance

2,933,161

2,844,730

3 %

2,771,414

2,635,890

2,524,107

16 %

Home equity

667,339

657,625

1 %

656,792

642,463

630,855

6 %

Other consumer

309,578

313,828

(1) %

278,370

260,547

258,366

20 %

Total consumer

10,944,685

11,072,503

(1) %

11,520,632

11,427,191

11,318,564

(3) %

Total loans(a)

$   30,492,001

$   30,110,982

1 %

$   30,201,918

$   29,634,087

$   29,579,564

3 %









Period end deposit and customer funding composition(b)

Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %
Change

Noninterest-bearing demand

$    5,782,487

$     6,135,946

(6) %

$     5,775,657

$    5,857,421

$    5,815,045

(1) %

Savings

5,291,674

5,247,291

1 %

5,133,295

5,072,508

5,157,103

3 %

Interest-bearing demand

7,490,772

7,870,965

(5) %

7,994,475

7,302,239

7,193,485

4 %

Money market

5,915,867

6,141,275

(4) %

6,009,793

5,831,637

5,882,508

1 %

Network transaction deposits

1,792,362

1,882,930

(5) %

1,758,388

1,566,908

1,502,919

19 %

Brokered CDs

4,072,048

4,197,512

(3) %

4,276,309

4,242,670

4,061,578

— %

Other time deposits

3,802,356

3,720,793

2 %

3,700,518

3,680,914

3,078,401

24 %

Total deposits

34,147,565

35,196,713

(3) %

34,648,434

33,554,298

32,691,039

4 %

Other customer funding(c)

75,440

85,950

(12) %

100,044

110,988

89,524

(16) %

Total deposits and other customer funding

$   34,223,005

$   35,282,663

(3) %

$   34,748,478

$   33,665,286

$   32,780,564

4 %

Net deposits and other customer funding(d)

$   28,358,595

$   29,202,221

(3) %

$   28,713,780

$   27,855,707

$   27,216,066

4 %









Quarter average deposit composition

Jun 30, 2025

Mar 31, 2025

Seql Qtr %
Change

Dec 31, 2024

Sep 30, 2024

Jun 30, 2024

Comp Qtr %
Change

Noninterest-bearing demand

$    5,648,935

$     5,640,123

— %

$     5,738,557

$    5,652,228

$    5,712,115

(1) %

Savings

5,222,869

5,162,468

1 %

5,132,247

5,125,147

5,133,688

2 %

Interest-bearing demand

7,683,402

8,031,707

(4) %

7,623,230

7,394,550

7,265,621

6 %

Money market

5,988,947

6,079,551

(1) %

5,924,269

5,942,147

5,995,005

— %

Network transaction deposits

1,843,998

1,847,972

— %

1,690,745

1,644,305

1,595,312

16 %

Brokered CDs

4,089,844

4,315,311

(5) %

4,514,841

4,247,941

3,927,727

4 %

Other time deposits

3,725,205

3,756,332

(1) %

3,713,579

3,314,507

2,999,936

24 %

Total deposits

34,203,201

34,833,464

(2) %

34,337,468

33,320,825

32,629,404

5 %

Other customer funding(c)

80,010

87,693

(9) %

94,965

104,115

87,161

(8) %

Total deposits and other customer funding

$   34,283,211

$   34,921,157

(2) %

$   34,432,433

$   33,424,940

$   32,716,565

5 %

Net deposits and other customer funding(d)

$   28,349,369

$   28,757,874

(1) %

$   28,226,848

$   27,532,694

$   27,193,526

4 %


‌

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

(a)

Loans held for sale have been included in the average balances.

(b)

Prior periods have been adjusted to conform with current period presentation.

(c)

Includes repurchase agreements.

(d)

Total deposits and other customer funding, excluding brokered CDs and network transaction deposits.

 

Associated Banc-Corp

Non-GAAP Financial Measures Reconciliation

YTD

YTD






(Dollars in thousands)

Jun 2025

Jun 2024

2Q25

1Q25

4Q24

3Q24

2Q24

Selected equity and performance ratios(a)








Average stockholders' equity / average assets

10.88 %

10.20 %

10.90 %

10.86 %

10.76 %

10.46 %

10.14 %

Tangible common equity / tangible assets (TCE Ratio) (b)



8.06 %

7.96 %

7.82 %

7.50 %

7.18 %

Return on average equity

9.17 %

9.48 %

9.43 %

8.91 %

(14.20) %

8.09 %

11.16 %

Return on average tangible common equity (ROATCE) (c)

12.66 %

13.78 %

12.96 %

12.34 %

(20.27) %

11.52 %

16.25 %

Return on average common equity Tier 1 (ROACET1) (c)

12.20 %

12.42 %

12.57 %

11.82 %

(19.28) %

10.53 %

14.54 %

Return on average tangible assets(c)

1.04 %

1.01 %

1.07 %

1.01 %

(1.55) %

0.89 %

1.18 %

Tangible common equity reconciliation(b)








Common equity



$      4,586,669

$     4,492,446

$    4,411,450

$     4,219,125

$      4,048,225

Less: Goodwill and other intangible assets, net



1,132,247

1,134,450

1,136,653

1,138,855

1,141,058

Tangible common equity for TCE Ratio and TBV / share



$      3,454,422

$     3,357,996

$    3,274,797

$     3,080,269

$      2,907,167

Tangible assets reconciliation(b)








Total assets



$    43,993,729

$   43,309,136

$  43,023,068

$   42,210,815

$   41,623,908

Less: Goodwill and other intangible assets, net



1,132,247

1,134,450

1,136,653

1,138,855

1,141,058

Tangible assets for TCE Ratio



$    42,861,482

$   42,174,686

$  41,886,415

$   41,071,960

$   40,482,850

Average tangible common equity and average common equity Tier 1 reconciliation(b)








Average common equity

$    4,487,789

$    3,979,681

$      4,538,549

$     4,436,467

$    4,334,230

$     4,136,615

$     3,972,092

Less: Average goodwill and other intangible assets, net

1,134,600

1,143,478

1,133,627

1,135,584

1,137,826

1,140,060

1,142,368

Average tangible common equity for ROATCE

3,353,189

2,836,203

3,404,922

3,300,883

3,196,404

2,996,555

2,829,725

   Modified CECL transitional amount

—

22,425

—

—

22,425

22,425

22,425

Average accumulated other comprehensive loss(d)

46,443

214,850

28,405

64,680

151,862

172,711

241,634

Average deferred tax assets, net

24,638

18,404

24,392

24,886

23,462

23,564

24,506

   Average common equity Tier 1 for ROACET1

$    3,424,270

$    3,091,883

$     3,457,719

$     3,390,449

$    3,394,154

$     3,215,255

$      3,118,290

Average tangible assets reconciliation(b)








Average total assets

$  43,027,526

$  40,932,710

$   43,420,063

$   42,630,627

$  42,071,562

$  41,389,711

$   41,100,606

Less: Average goodwill and other intangible assets, net

1,134,600

1,143,478

1,133,627

1,135,584

1,137,826

1,140,060

1,142,368

Average tangible assets for return on average tangible assets

$  41,892,926

$  39,789,232

$   42,286,436

$   41,495,043

$  40,933,736

$  40,249,651

$   39,958,238

Adjusted net income (loss) reconciliation(c)








Net income (loss)

$       212,916

$       196,742

$        111,230

$        101,687

$      (161,615)

$         88,018

$        115,573

Other intangible amortization, net of tax

3,304

3,304

1,652

1,652

1,652

1,652

1,652

Adjusted net income (loss) for return on average tangible assets

$       216,220

$       200,046

$        112,882

$        103,339

$      (159,963)

$         89,670

$        117,225

Adjusted net income (loss) available to common equity reconciliation(c)








Net income (loss) available to common equity

$       207,166

$       190,992

$        108,355

$         98,812

$      (164,490)

$         85,143

$        112,698

Other intangible amortization, net of tax

3,304

3,304

1,652

1,652

1,652

1,652

1,652

Adjusted net income (loss) available to common equity for ROATCE and ROACET1

$       210,470

$       194,296

$        110,007

$        100,464

$      (162,838)

$         86,795

$        114,350

Pre-tax pre-provision income (loss)








Income (loss) before income taxes

$       260,724

$       204,068

$        139,629

$        121,095

$      (177,752)

$        108,142

$        102,884

Provision for credit losses

30,999

47,009

17,996

13,003

16,986

20,991

23,008

Pre-tax pre-provision income (loss)

$       291,723

$       251,077

$        157,625

$        134,098

$      (160,766)

$        129,133

$        125,892

Period end core customer deposits reconciliation








Total deposits



$   34,147,565

$  35,196,713

$  34,648,434

$  33,554,298

$  32,691,039

Less: Network transaction deposits



1,792,362

1,882,930

1,758,388

1,566,908

1,502,919

Less: Brokered CDs



4,072,048

4,197,512

4,276,309

4,242,670

4,061,578

Core customer deposits



$   28,283,155

$  29,116,271

$  28,613,737

$  27,744,719

$  27,126,542

Average core customer deposits reconciliation








Average total deposits

$  34,516,592

$  32,948,231

$   34,203,201

$  34,833,464

$  34,337,468

$  33,320,825

$  32,629,404

Less: Average network transaction deposits

1,845,974

1,623,625

1,843,998

1,847,972

1,690,745

1,644,305

1,595,312

Less: Average brokered CDs

4,201,955

4,098,304

4,089,844

4,315,311

4,514,841

4,247,941

3,927,727

Average core customer deposits

$  28,468,663

$  27,226,302

$   28,269,359

$  28,670,181

$  28,131,882

$  27,428,578

$  27,106,365


‌

Numbers may not recalculate due to rounding conventions.

(a)

These capital measurements are used by management, regulators, investors, and analysts to assess, monitor, and compare the quality and composition of our capital with the capital of other financial services companies.

(b)

The ratio tangible common equity to tangible assets excludes goodwill and other intangible assets, net. This financial measure has been included as it is considered to be a critical metric with which to analyze and evaluate financial condition and strength.

(c)

Adjusted net income and adjusted net income available to common equity, which are used in the calculation of return on average tangible assets and return on average tangible common equity, respectively, add back other intangible amortization, net of tax.

(d)

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.  This adjustment reflects that election.

 

Associated Banc-Corp

Non-GAAP Efficiency Ratios Reconciliation(a)

YTD

YTD






(Dollars in thousands)

Jun 2025

Jun 2024

2Q25

1Q25

4Q24

3Q24

2Q24

Total expense for efficiency ratios reconciliation








Noninterest expense

$ 419,971

$ 393,518

$ 209,352

$ 210,619

$ 224,282

$ 200,597

$ 195,861

Less: Other intangible amortization

4,405

4,405

2,203

2,203

2,203

2,203

2,203

Total expense for fully tax-equivalent efficiency ratio

415,566

389,112

207,149

208,416

222,080

198,394

193,658

Less: FDIC special assessment

—

7,696

—

—

—

—

—

Less: Announced initiatives(b)

—

—

—

—

14,243

—

—

Total expense for adjusted efficiency ratio

$ 415,566

$ 381,416

$ 207,149

$ 208,416

$ 207,836

$ 198,394

$ 193,658

Total revenue for efficiency ratios reconciliation








Net interest income

$ 585,940

$ 514,451

$ 300,000

$ 285,941

$ 270,289

$ 262,509

$ 256,593

Noninterest income (loss)

125,754

130,144

66,977

58,776

(206,772)

67,221

65,159

Less: Investment securities gains (losses), net

11

3,947

7

4

(148,194)

100

67

Fully tax-equivalent adjustment

8,483

7,516

4,228

4,254

3,680

3,723

3,747

Total revenue for fully tax-equivalent efficiency ratio

720,166

648,165

371,198

348,968

215,390

333,353

325,432

Less: Announced initiatives(b)

(6,976)

—

—

(6,976)

(130,406)

—

—

Total revenue for adjusted efficiency ratio

$ 727,142

$ 648,165

$ 371,198

$ 355,943

$ 345,795

$ 333,353

$ 325,432

Efficiency ratios (expense / revenue)








Fully tax-equivalent efficiency ratio

57.70 %

60.03 %

55.81 %

59.72 %

103.11 %

59.51 %

59.51 %

Adjusted efficiency ratio

57.15 %

58.85 %

55.81 %

58.55 %

60.10 %

59.51 %

59.51 %

 

Nonrecurring Item Reconciliation



(Dollars in thousands, except per share data)

4Q24

4Q24 per share data
(diluted)

GAAP net (loss)

$         (161,615)

$                           (1.03)

Loss on mortgage portfolio sale(c)

130,406

0.82

Provision on initiatives

1,460

0.01

Net loss on sale of investments(c)

148,183

0.93

Loss on prepayments of FHLB advances

14,243

0.09

Tax effect

(38,655)

(0.24)

Net income, excluding nonrecurring items, net of tax

94,022

$                            0.57

        Less preferred stock dividends

(2,875)


            Net income available to common equity, excluding nonrecurring items, net of tax

$             91,147


 

Nonrecurring Item Noninterest Income Reconciliation

YTD


YTD


(Dollars in thousands)

Jun 2025

1Q25

Dec 2024

4Q24

GAAP noninterest income (loss)

$               125,754

$                 58,776

$                 (9,407)

$             (206,772)

Less: Loss on mortgage portfolio sale(c)

(6,976)

(6,976)

(130,406)

(130,406)

Less: Net loss on sale of investments(c)

—

—

(148,183)

(148,183)

Noninterest income, excluding nonrecurring items

$               132,729

$                 65,752

$               269,182

$                 71,816

‌





Nonrecurring Item Noninterest Expense Reconciliation



YTD


(Dollars in thousands)



Dec 2024

4Q24

GAAP noninterest expense



$               818,397

$               224,282

Loss on prepayments of FHLB advances(c)



(14,243)

(14,243)

Noninterest expense, excluding nonrecurring items



$               804,154

$               210,039


‌

Numbers may not recalculate due to rounding conventions.

(a)

Prior periods have been adjusted to conform with current period presentation.

(b)

Announced initiatives include the loss on mortgage portfolio sale and loss on prepayment of FHLB advances as a result of balance sheet repositionings that the Corporation announced in the fourth quarter of 2024.  The net loss on the sale of investments is already excluded from noninterest income within the efficiency ratio.

(c)

These items classified as nonrecurring items are the result of balance sheet repositionings that the Corporation announced in the fourth quarter of 2024.

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

Cision View original content:https://www.prnewswire.com/news-releases/record-quarterly-net-interest-income-drives-associated-banc-corps-second-quarter-2025-earnings-per-common-share-of-0-65--302513523.html

SOURCE Associated Banc-Corp

FAQ

What was Associated Banc-Corp's (ASB) earnings per share in Q2 2025?

Associated Banc-Corp reported earnings of $0.65 per share in Q2 2025, compared to $0.59 in Q1 2025 and $0.74 in Q2 2024.

How much did Associated Banc-Corp's (ASB) net interest income grow in Q2 2025?

The bank achieved record net interest income of $300 million, representing a 5% increase from Q1 2025 and a 17% increase year-over-year.

What is Associated Banc-Corp's (ASB) loan growth guidance for 2025?

Associated Banc-Corp expects period-end loan growth of 5% to 6% compared to year-end 2024.

What was ASB's deposit performance in Q2 2025?

Total deposits were $34.1 billion, decreasing 3% quarter-over-quarter but increasing 4% year-over-year. Core customer deposits totaled $28.3 billion.

What is Associated Banc-Corp's (ASB) current credit quality status?

The bank reported an allowance for credit losses ratio of 1.35%, with net charge-offs of 0.17% and nonaccrual loans of $113 million (0.37% of total loans).
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Associated Banc Corp

NYSE:ASB

ASB Rankings

#2107 Ranked by Market Cap
#926 Ranked by Dividends

ASB Latest News

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Jun 23, 2025
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Jun 12, 2025
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Jun 10, 2025
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ASB Latest SEC Filings

Jul 24, 2025
[8-K] Associated Banc-Corp Reports Material Event
Jul 21, 2025
[Form 4] Associated Banc-Corp Insider Trading Activity
Jul 18, 2025
[Form 4] Associated Banc-Corp Insider Trading Activity
Jul 18, 2025
[Form 4] Associated Banc-Corp Insider Trading Activity
Jul 17, 2025
[Form 4] Associated Banc-Corp Insider Trading Activity

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164.21M
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88.74%
2.45%
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