Associated Banc-Corp (NYSE: ASB) grows loans and net interest income in Q2 2026

Q: How did Associated Banc-Corp (ASB) perform financially in Q2 2026?

Associated Banc-Corp reported net income available to common equity of $121 million , or $0.63 diluted EPS . Excluding nonrecurring acquisition-related items, adjusted earnings were $140 million , or $0.73 per share , reflecting solid core performance alongside merger costs.

Q: What were ASB's loan and deposit levels as of June 30, 2026?

At June 30, 2026, total loans were $36.5 billion and total deposits were $39.9 billion . Loans increased 19% and deposits 17% year over year, while core customer deposits reached $34.2 billion , up 21% .

Q: How did Associated Banc-Corp's net interest income and margin change in Q2 2026?

Net interest income rose to $370 million , up 20% sequentially and 23% year over year. The net interest margin improved to 3.17% , a 14 basis point increase from Q1 2026 and 13 basis points above Q2 2025.

Q: What is the credit quality picture for Associated Banc-Corp (ASB) in Q2 2026?

Provision for credit losses on loans was $19 million , with net charge-offs of $23 million , or 0.26% of average loans annualized. Nonaccrual loans were $150 million , and the allowance for credit losses on loans was $494 million , or 1.36% of total loans.

Q: What capital ratios did Associated Banc-Corp report for Q2 2026?

Associated Banc-Corp reported a CET1 capital ratio of 10.47% , a total capital ratio of 12.79% , and a tangible common equity ratio of 8.27% . These levels remain above Basel III well-capitalized regulatory benchmarks on a fully phased-in basis.

Q: What 2026 guidance did Associated Banc-Corp (ASB) provide with this update?

Management expects 2026 period-end loan growth of 18–20% , total deposit growth of 17–19% , and core customer deposit growth of 19–21% versus 2025. It also projects net interest income growth of 19–21% and noninterest income growth of 8–10% .

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Associated Banc-Corp reported second-quarter 2026 net income available to common equity of $121 million, or $0.63 per diluted share, and adjusted earnings of $140 million, or $0.73 per share, reflecting strong balance-sheet growth and nonrecurring costs from the April acquisition of American National Corporation.

Total loans reached $36.5 billion and deposits $39.9 billion, up 19% and 17% year over year, with core customer deposits at $34.2 billion. Net interest income rose to $370 million and net interest margin improved to 3.17%. Noninterest income was $80 million, while noninterest expense increased to $272 million, including $24 million of acquisition-related charges.

Credit metrics remained manageable: the provision for credit losses was $19 million, net charge-offs were 0.26% of average loans annualized, nonaccrual loans were $150 million, and the allowance for credit losses on loans was $494 million, or 1.36% of total loans. Capital ratios stayed well above regulatory benchmarks, with a CET1 ratio of 10.47% and total capital ratio of 12.79%, and management reaffirmed 2026 guidance for high-teens loan and deposit growth and net interest income growth of 19% to 21%.

Positive

Net interest income increased to $370 million with net interest margin of 3.17%, up 14 basis points sequentially and 13 basis points year over year, supported by double-digit loan and deposit growth.
Total loans and total deposits grew to $36.5 billion and $39.9 billion, up 19% and 17% year over year, while core customer deposits rose 21%, indicating strong organic and acquisition-driven franchise expansion.

Negative

Noninterest expense rose to $272 million, up 30% year over year, including $24 million of nonrecurring acquisition-related costs, compressing near-term profitability.
Credit costs moved higher, with net charge-offs of $23 million and nonaccrual loans up 36% sequentially to $150 million, even though loss and nonperforming ratios remain relatively low.

Filing Explained

The acquisition is closed, but operational conversion remains pending; updated estimates put tangible-book-value-per-share dilution at 1.9%.

This Form 8-K furnishes Associated Banc-Corp’s second-quarter results and investor presentation; the American National Corporation acquisition closed on April 1, 2026, while systems, branches, and account conversion is expected in October 2026.

The filing identifies $23 million of equity consideration and updates estimated tangible-book-value-per-share dilution to 1.9%, so the transaction has increased the share base and reduced the per-share tangible book value available to existing common holders on the filing’s estimate.

The reported quarter-over-quarter balance growth includes acquired American National balances: loans rose 15% overall versus 3% excluding those balances, while deposits rose 12% overall versus declined 1% excluding them.

The next specified milestone is the October 2026 conversion; the filing also updates expected total nonrecurring merger expenses to $60 million, including $52 million forecast for Associated.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income available to common equity: $121 million Adjusted diluted EPS: $0.73 per share Total loans (period end): $36.5 billion +5 more

8 metrics

Net income available to common equity $121 million Quarter ended June 30, 2026; $0.63 per diluted share

Adjusted diluted EPS $0.73 per share 2Q 2026 earnings excluding nonrecurring acquisition-related items

Total loans (period end) $36.5 billion June 30, 2026; 15% above 1Q 2026 and 19% above 2Q 2025

Total deposits (period end) $39.9 billion June 30, 2026; 12% above 1Q 2026 and 17% above 2Q 2025

Net interest income $370 million 2Q 2026; up $63 million sequentially and $70 million year over year

Net interest margin 3.17% 2Q 2026; 14 basis point increase vs 1Q 2026

Noninterest expense $272 million 2Q 2026; includes $24 million of nonrecurring acquisition costs

CET1 capital ratio 10.47% As of June 30, 2026; exceeds Basel III well-capitalized benchmarks

Key Terms

net interest margin, allowance for credit losses on loans, core customer deposits, CET1 capital ratio, +1 more

5 terms

net interest margin financial

"The net interest margin of 3.17% was a 14 basis point increase"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

allowance for credit losses on loans financial

"The allowance for credit losses on loans (ACLL) of $494 million increased"

A bank's allowance for credit losses on loans is a reserve of money set aside to cover loans the lender expects may not be repaid. Think of it as a rainy-day fund for a loan portfolio: larger allowances signal more expected losses and reduce reported profits and available capital, so investors watch it to judge a lender’s risk exposure, earnings quality, and financial strength.

core customer deposits financial

"Core customer deposits increased $4.7 billion from the prior quarter"

CET1 capital ratio regulatory

"The Company’s capital position remains strong, with a CET1 capital ratio of 10.47%"

The CET1 capital ratio measures a bank’s core equity (common shares and retained earnings) as a share of its assets after those assets are adjusted for how risky they are. It shows how big a financial cushion the bank has to absorb losses without needing outside help, so investors use it like a fuel gauge: higher ratios mean more protection against bad loans or market shocks and lower chances of forced capital raises or regulatory action.

nonperforming assets financial

"Total nonperforming assets were $185,298, up 29% from the prior quarter"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

Offering Details

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Offering

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Understanding 8-K Material Events →

Available on EDGAR 07/23/2026 - 04:16 PM Accepted by SEC EDGAR 07/23/2026 - 04:16 PM

FAQ

How did Associated Banc-Corp (ASB) perform financially in Q2 2026?

Associated Banc-Corp reported net income available to common equity of $121 million, or $0.63 diluted EPS. Excluding nonrecurring acquisition-related items, adjusted earnings were $140 million, or $0.73 per share, reflecting solid core performance alongside merger costs.

What were ASB's loan and deposit levels as of June 30, 2026?

At June 30, 2026, total loans were $36.5 billion and total deposits were $39.9 billion. Loans increased 19% and deposits 17% year over year, while core customer deposits reached $34.2 billion, up 21%.

How did Associated Banc-Corp's net interest income and margin change in Q2 2026?

Net interest income rose to $370 million, up 20% sequentially and 23% year over year. The net interest margin improved to 3.17%, a 14 basis point increase from Q1 2026 and 13 basis points above Q2 2025.

What is the credit quality picture for Associated Banc-Corp (ASB) in Q2 2026?

Provision for credit losses on loans was $19 million, with net charge-offs of $23 million, or 0.26% of average loans annualized. Nonaccrual loans were $150 million, and the allowance for credit losses on loans was $494 million, or 1.36% of total loans.

What capital ratios did Associated Banc-Corp report for Q2 2026?

Associated Banc-Corp reported a CET1 capital ratio of 10.47%, a total capital ratio of 12.79%, and a tangible common equity ratio of 8.27%. These levels remain above Basel III well-capitalized regulatory benchmarks on a fully phased-in basis.

What 2026 guidance did Associated Banc-Corp (ASB) provide with this update?

Management expects 2026 period-end loan growth of 18–20%, total deposit growth of 17–19%, and core customer deposit growth of 19–21% versus 2025. It also projects net interest income growth of 19–21% and noninterest income growth of 8–10%.


UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549
FORM			8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported)			July 23, 2026


Associated Banc-Corp
(Exact name of registrant as specified in its chapter)


Wisconsin	001-31343	39-1098068
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


433 Main Street	Green Bay	Wisconsin	54301
(Address of principal executive offices)			(Zip code)


Registrant’s telephone number, including area code			920			491-7500



(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the act:


Title of each class	Trading symbol	Name of each exchange on which registered
Common stock, par value $0.01 per share	ASB	New York Stock Exchange
Depositary Shrs, each representing 1/40th intrst in a shr of 5.875% Non-Cum. Perp Pref Stock, Srs E	ASB PrE	New York Stock Exchange
Depositary Shrs, each representing 1/40th intrst in a shr of 5.625% Non-Cum. Perp Pref Stock, Srs F	ASB PrF	New York Stock Exchange
6.625% Fixed-Rate Reset Subordinated Notes due 2033	ASBA	New York Stock Exchange


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐			Emerging growth company
☐			If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.


Item 2.02 Results of Operations and Financial Condition.

On July 23, 2026, Associated Banc-Corp announced its earnings for the quarter ended June 30, 2026. A copy of the registrant’s press release containing this information and the slide presentation discussed on the conference call for investors and analysts on July 23, 2026, are being furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Report on Form 8-K and are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are furnished as part of this Report on Form 8-K:
99.1 Press release of the registrant dated July 23, 2026, containing financial information for the quarter ended June 30, 2026.

99.2 Slide presentation discussed on the conference call for investors and analysts on July 23, 2026.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						Associated Banc-Corp
						(Registrant)


Date: July 23, 2026						By: /s/ Derek S. Meyer
						Derek S. Meyer
						Chief Financial Officer

Exhibit 99.1


			NEWS RELEASE 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

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 Quarter1

Results fueled by sustained organic growth trends, ongoing integration of American National Corporation.

GREEN BAY, Wis. -- July 23, 2026 -- 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 share1.

"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 deposits1 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.

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%.

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

•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)
(Dollars in thousands)	June 30, 2026		March 31, 2026		Sequential Quarter Change		December 31, 2025		September 30, 2025		June 30, 2025		Comparable Quarter 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 per share data)	2Q26		2Q25		Dollar Change		Percentage Change		June 2026		June 2025		Dollar Change		Percentage 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
(Dollars and shares in thousands, except per share data)					Sequential Quarter
	2Q26		1Q26		Dollar Change		Percentage 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)
(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	$	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)
(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	$	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)
Period end loan composition	Jun 30, 2026		Mar 31, 2026		Seql Qtr % Change		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Comp Qtr % 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	%

Quarter average loan composition(a)	Jun 30, 2026		Mar 31, 2026		Seql Qtr % Change		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Comp Qtr % 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 customer funding composition	Jun 30, 2026		Mar 31, 2026		Seql Qtr % Change		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Comp Qtr % 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	%

Quarter average deposit composition	Jun 30, 2026		Mar 31, 2026		Seql Qtr % Change		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Comp Qtr % 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
(Dollars in thousands)	Jun 30, 2026			Mar 31, 2026			Seql Qtr % Change		Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Comp Qtr % 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	%
(Dollars in thousands)	Jun 30, 2026			Mar 31, 2026			Seql Qtr % Change		Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Comp Qtr % 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)
(Dollars in thousands)	Jun 30, 2026			Mar 31, 2026			Seql Qtr % Change		Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Comp Qtr % 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)
(Dollars in thousands)	Jun 30, 2026		Mar 31, 2026		Seql Qtr % Change		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Comp Qtr % 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	%
(Dollars in thousands)	Jun 30, 2026		Mar 31, 2026		Seql Qtr % Change		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Comp Qtr % 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 as noted)	YTD Jun 2026			YTD 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.

(continued)


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

Associated Banc-Corp Second Quarter 2026 Earnings Presentation July 23, 2026

Important Disclosures 2 Forward-looking statements: Statements made in this document 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 the ability to integrate the American National Bank (“ANB”) business successfully and in a timely manner; the possibility that the anticipated benefits of the ANB transaction are not realized when expected or at all; the possibility that the ANB transaction may be more expensive to integrate than anticipated; and such other risk factors as 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. Trademarks: All trademarks, service marks, and trade names referenced in this material are official trademarks and the property of their respective owners. Presentation: Within the charts and tables presented, certain segments, columns and rows may not sum to totals shown due to rounding. Non-GAAP measures: This presentation includes certain non-GAAP financial measures. These financial measures have been included as they provide meaningful supplemental information to assess trends in the Corporation’s results of operations. These non-GAAP measures are provided in addition to, and not as substitutes for, measures of our financial performance determined in accordance with GAAP. Our calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related GAAP measures. Unless otherwise noted, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found at the end of this presentation.

Financial Results Associated Bank River Center – Milwaukee, WI

$0.63 Diluted GAAP EPS $0.73 Diluted Adj. EPS1 10.47% CET1 Ratio 12.79% Total Capital Ratio 10.51% Common Equity / Total Assets 8.27% TCE Ratio1 8.81% Return on Avg. Equity 12.12% ROATCE1 13.95% Adj. ROATCE1 $28.85 Book Value / Share $22.15 TBV / Share1 Second Quarter 2026 Results 4 ▪ Total period end loans of $36.5 billion ▪ +15% vs. 1Q26; +19% vs. 2Q25 ▪ Ex. ANC1,2: +3% vs. 1Q26; +7% vs. 2Q25 ▪ Period end C&I loans of $13.8 billion ▪ +11% vs. 1Q26; +22% vs. 2Q25 ▪ Ex. ANC1,2: +5% vs. 1Q26; +15% vs. 2Q25 ▪ Total period end deposits of $39.9 billion ▪ +12% vs. 1Q26; +17% vs. 2Q25 ▪ Ex. ANC1,2: -1% vs. 1Q26; +4% vs. 2Q25 ▪ Period end core customer deposits1 of $34.2 billion ▪ +12% vs. 1Q26; +21% vs. 2Q25 ▪ Ex. ANC1,2: -1% vs. 1Q26; +6% vs. 2Q25 ▪ Net interest income of $370 million ▪ Net interest margin of 3.17% ▪ Noninterest income of $80 million ▪ Noninterest expense of $272 million ▪ Provision for credit losses of $19 million ▪ ACLL / total loans of 1.36% ▪ NCOs / average loans (annualized) of 0.26% 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 2 Excludes balances acquired from American National Corporation (ANC). ANC balances are as of June 30, 2026, inclusive of FV marks recorded through PAA.

5 American National Corporation (ANC) Integration Update Transaction closed April 1, 2026, with conversion of systems, branches & accounts expected in October 2026 Estimated at Announcement1 Updated as of 7/23/20261 Nonrecurring Merger Expenses $55M ($8M taken by ANC; $47M taken by ASB) $60M ($7.4M taken by ANC; $52.5M forecasted by ASB) Loan Credit Mark Credit mark of $74M Credit mark of $74M Loan Fair Value Marks Mark up of $7.5M (Amortized sum-of-years-digits over ~5 yrs.) Mark down of $16.7M (Accreted over remaining life of loans) Auto Dealer Reserve Adjustment $25M $26M Securities Fair Value Marks AFS securities AOCI mark down of $36.5M Net securities and hedge adjustment of $51.4M Real Estate Fair Value Marks Mark up of $18M Mark up of $13M Other Fixed Asset Fair Value Marks Mark down of $5M Mark down of $5M Core Deposit Intangible 3% of ANC core deposits at close (Amortized sum-of-years-digits over 10 yrs.) $103M (Amortized sum-of-years-digits over 10 yrs.) Cost Savings 25% of ANC’s noninterest expense base 30% of ANC’s noninterest expense base TBVPS Dilution2 ~1.2% 1.9% TBVPS Earnback2 ~2.25 yrs. ~2.25 yrs. 1 All figures except TBVPS dilution and TBVPS earnback shown on a pre-tax basis. 2 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures.

$3.9 $4.0 $4.1 $4.1 $5.3 $7.0 $7.0 $6.9 $6.8 $6.9 $7.5 $7.3 $7.3 $7.3 $8.9 $12.1 $12.5 $12.7 $13.0 $14.8 $30.5 $30.8 $31.0 $31.3 $35.9 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Quarterly Loan Trends 6 Average Quarterly Loans ($ in billions) Period End Balance Change 3/31/26 to 6/30/26 ($ in millions) Commercial & Business Lending Commercial Real Estate Residential Mortgage Auto Finance, Home Equity & Other Consumer 2Q 2026 period end total loans grew by 15% vs. the prior quarter, or 3% excluding the impact of balances acquired from ANC1 Total $ Total % Ex. ANC1 $ Ex. ANC1 % C&I $1,411 11% $644 5% CRE-Investor 1,226 23% 50 1% Auto Finance 908 29% 60 2% CRE-Construction 429 20% 201 9% CRE-OO 382 32% 5 0% Other Consumer 233 23% 37 4% Resi. Mortgage 81 1% (58) (1)% Total Loans $4,669 15% $940 3% 1 Excludes balances acquired from American National Corporation (ANC). ANC balances are as of June 30, 2026, inclusive of FV marks recorded through PAA. This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures.

$8.5 $9.8 $9.7 $10.6 $11.8 $13.8 $13.0 2021 2022 2023 2024 2025 1H 2026 1H 2026 7 Period End C&I Loan Growth Trends ($ in billions) Launched Dallas C&I office in May 2026 Added top talent in key leadership roles Increased RMs by nearly 50% from 4Q21 to 2Q26 Sustainable Relationship Commercial Growth 1H 2026 results reflect continued growth momentum, with several YTD investments expected to sustain growth through 2026-27 Opened Kansas City C&I office in 2025; Doubled size of team in Mar. 2026 Ex. ANC1 +17% Growth vs. 12/31/2025Commercial & Industrial Loans Launched Franchise Banking vertical in Apr. 2026 Retooled incentive plans with sharpened relationship focus 1 Excludes balances acquired from American National Corporation (ANC). ANC balances are as of June 30, 2026, inclusive of FV marks recorded through PAA. This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. +10%

$1.8 $1.9 $2.1 $1.9 $1.9 $4.1 $3.9 $4.0 $3.5 $4.1 $3.7 $4.0 $4.1 $4.2 $5.0 $6.0 $5.9 $5.9 $6.1 $7.6 $5.2 $5.3 $5.4 $5.5 $6.0 $7.7 $7.9 $8.1 $7.9 $8.7 $5.6 $5.8 $6.1 $6.0 $7.1 $34.2 $34.7 $35.6 $35.2 $40.4 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Quarterly Deposit Trends 8 Average Quarterly Deposits ($ in billions) 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 2 Excludes balances acquired from American National Corporation (ANC). ANC balances are as of June 30, 2026, inclusive of FV marks recorded through PAA. Customer CDs Savings Money Market Network Trans. Deposits Noninterest-Bearing Demand Interest-Bearing Demand Brokered CDs Period End Balance Change 3/31/26 to 6/30/26 ($ in millions) 2Q 2026 deposit balances were impacted by the addition of $4.4 billion in ANC-related balances Total $ Total % Ex. ANC1,2 $ Ex. ANC1,2 % Money Market $1,426 23% $(165) (3)% NIB-Demand 783 13% (203) (3)% IB-Demand 733 9% (91) (1)% Savings 511 9% 259 5% Brokered CDs 371 10% 168 5% Customer CDs 298 7% (198) (4)% Network Trans. Deposits 77 4% 12 1% Total Deposits $4,199 12% $(218) (1)% Core Customer Deposits1 $3,752 12% $(398) (1)%

$26.6 $27.1 $28.3 $30.0 6/30/2023 6/30/2024 6/30/2025 6/30/2026 $32.0 $32.7 $34.1 $39.9 6/30/2023 6/30/2024 6/30/2025 6/30/2026 Sustainable Relationship Deposit Growth 9 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 2 Excludes balances acquired from American National Corporation (ANC). ANC balances are as of June 30, 2026, inclusive of FV marks recorded through PAA. Our YoY deposit growth rate has improved for three straight years, with relationship-focused initiatives driving sustainable growth Period End YoY Deposit Growth Trends ($ in billions) Customer CKG HH growth of 2%+ (annualized) Adding high-quality Commercial RMs in major metro markets with a sharpened focus on relationships Fully operational Specialty Deposit and Payment Solutions vertical ANC acquisition on track for expected October 2026 conversion Modernized digital platform, improved product set & enhanced marketing acquisition capabilities Successful Mass Affluent strategy +2% +17% +2% +4% +6% Total Deposits Core Customer Deposits Ex. ANC1,2 +4% Bolstered Private Wealth leadership with several key hires

Average Yield Trends 10 Quarterly Average Yields (%) 6.75 6.74 6.50 6.21 6.28 6.50 6.45 6.18 5.89 5.96 5.63 5.58 5.56 5.45 5.83 3.70 3.75 3.76 3.78 3.81 4.24 4.26 4.14 4.17 4.22 2.78 2.78 2.61 2.44 2.45 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Residential Mortgage Commercial & Business Lending Commercial Real Estate Total Interest- Bearing Deposits Auto Finance Asset & Liability Yield / Rate Trends (%) Rate on Total Interest- Bearing Liabilities Yield on Total Earning Assets 5.50 5.50 5.34 5.20 5.32 3.02 3.03 2.82 2.67 2.66 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Investments The yield on total earning assets increased by 12 bps in 2Q, while interest-bearing liability costs decreased by 1 bp

Net Interest Income & Net Interest Margin Trends 11 $300 $305 $310 $307 $370 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3.04% Quarterly Net Interest Income Quarterly Net Interest Margin 3.04% 3.06% 3.03% 3.17% Net Interest Income & Net Interest Margin ($ in millions) 1Q 2026 to 2Q 2026 Walk-forward ($ in millions) NII NIM 1Q 2026 Actuals $307 3.03% Acquired ANC Balances & Core Growth $56 0.08% ANC Purchase Accounting Net Accretion $4 0.03% ANC Deferred Loan Costs & Fees Adjustment $3 0.03% 2Q 2026 Actuals $370 3.17% Net interest income increased $63 million vs. the prior quarter, while net interest margin improved by 14 bps to 3.17%

Interest Rate Risk Management1 12 Contractual Funding Obligations ($ in billions) Contractual Swaps Balances ($ in billions) Estimated NII Sensitivity Profile (%) 10.8 4.0 3.2 2.9 3.7 5.4 1.9 1.6 1.6 1.9 -5.0 -1.2 -1.0 -1.0 -1.2 -21.0 -1.8 -2.1 -1.9 -2.6 2Q 2022 2Q 2023 2Q 2024 2Q 2025 2Q 2026 Up 200 bps Up 100 bps Down 100 bps Down 200 bps (12-Month Ramp, Dynamic Forecast) $2.45 $2.45 $2.23 $1.83 $1.35 2Q 2026 3Q 2026 4Q 2026 1Q 2027 2Q 2027 ≤ 1 Yr. 1-3 Yrs. 3+ Yrs. Total Time Deposits $8.5 $0.2 $0.0 $8.7 Short-Term Funding $0.5 - - $0.5 FHLB Advances $4.4 $0.2 $0.0 $4.6 Other Long-Term Funding - - $0.6 $0.6 Total $13.4 $0.4 $0.6 $14.4 3.60%3.63% 3.68%3.68% 3.57% Notional Balances Weighted Avg. Yield 1 All updates as of or for the period ended June 30, 2026 unless otherwise noted. 2 In the down 200 for 2Q 2022, scenario rates are floored at zero. 2 We’ve taken proactive steps to reduce our asset sensitivity & protect NII in a volatile rate environment

Cash & Investment Securities Portfolio 13 Period End Investment Securities ($ in billions) Period End Securities + Cash / Total Assets $5.0 $5.2 $5.4 $5.5 $6.3 $3.7 $3.6 $3.6 $3.6 $3.5 $0.3 $0.3 $0.3 $0.3 $0.4 $9.0 $9.1 $9.3 $9.4 $10.2 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Held to MaturityAvailable for Sale Other Securities 20.5% 20.5% 20.5% 20.6% 19.8% 2.9% 2.9% 3.8% 3.1% 3.5% 23.4% 23.4% 24.3% 23.7% 23.3% 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Investment Securities / Total Assets Cash / Total Assets We continue to target securities + cash / total assets of 22% to 24% in 2026 We’ve continued to manage our cash & investment securities positions in proportion to broader balance sheet growth

$23 $25 $26 $25 $26 $13 $14 $14 $14 $16 $11 $12 $13 $12 $14 $6 $11 $11 $7 $7 $4 $4 $3 $6 $3 $10 $15 $12 $12 $14 $67 $81 $79 $76 $80 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Quarterly Noninterest Income Trends 14 Wealth Mgmt. Fees Capital Markets, net Other1 Mortgage Banking, net Service Charges & Deposit Account Fees Card-Based Fees 1 Other is comprised of other fee-based revenue, bank and corporate owned life insurance, asset gains (losses), net, investment securities gains (losses), net, and other noninterest income. Capital Markets, Net ($ in millions) $17 $10 $9 $10 $14 1H 2022 1H 2023 1H 2024 1H 2025 1H 2026 $44 $41 $44 $46 $51 1H 2022 1H 2023 1H 2024 1H 2025 1H 2026 Wealth Management Fees ($ in millions)Total Quarterly Noninterest Income ($ in millions) 2Q 2026 noninterest income of $80 million was up 6% vs. the prior quarter and 20% vs. the same period a year ago

55.8 54.8 55.2 56.0 58.355.8 54.8 55.2 55.8 52.9 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Quarterly Noninterest Expense Trends 15 Total Quarterly Noninterest Expense ($ in millions) Efficiency Ratio (%) $127 $136 $135 $135 $161 $27 $29 $29 $30 $33 $13 $13 $14 $14 $14 $10 $10 $7 $9 $11 $33 $29 $34 $31 $53 $209 $216 $219 $219 $272 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Personnel Other1 Technology FDIC AssessmentOccupancy Adjusted Efficiency Ratio2Fully Tax-Equivalent Efficiency Ratio 1 Other is comprised of business development & advertising, equipment, legal & professional, loan & foreclosure costs, other intangible amortization & other noninterest expenses. 2 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 2Q 2026 noninterest expense includes $24.5 million of nonrecurring costs tied to the acquisition of American National Corporation 2Q 2026 YTD Jun 2026 Personnel $13.4 $13.4 Legal & Professional 9.6 10.3 Technology 0.8 0.8 Business Development & Advertising 0.4 0.7 Other 0.3 0.3 Total $24.5 $25.5 Nonrecurring Acquisition-Related Expenses ($ in millions)

Capital Profile 16 Regulatory Capital Ratios (%) Additional Capital Ratios (%) Per Common Share Data ($) 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 10.20 10.77 12.83 10.47 10.94 12.79 CET1 Tier 1 Capital Total Capital 2Q 2025 2Q 2026 27.67 28.17 28.81 29.04 28.85 20.84 21.36 22.01 22.23 22.15 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Tangible Common Equity / Tangible Assets (TCE Ratio)1 Total Common Equity / Total Assets 10.43 10.51 10.58 10.54 10.51 8.06 8.18 8.29 8.27 8.27 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Tangible Book Value / Share1Book Value / Share We continue to target a CET1 range of 10% to 10.75% in 2026

Loan Category ACLL ACLL / Loans ACLL ACLL / Loans ACLL ACLL / Loans C&BL 186,135$ 1.50% 208,208$ 1.54% 234,735$ 1.53% CRE - Investor 63,342 1.18% 53,899 1.02% 65,698 1.01% CRE - Construction 65,885 3.38% 69,810 3.30% 85,681 3.37% Residential Mortgage 34,096 0.49% 32,739 0.49% 35,452 0.52% Other Consumer 62,332 1.58% 60,376 1.45% 72,907 1.38% Total 411,791$ 1.35% 425,032$ 1.34% 494,473$ 1.36% 3/31/2026 6/30/20266/30/2025 $412 $415 $419 $425 $494 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Allowance for Credit Losses on Loans (ACLL)1 17 ACLL Trends ($ in millions) 1 Includes funded and unfunded reserve for loans, excludes reserve for HTM securities. ($ in thousands) 1.35% 1.34% 1.35% 1.34% 1.36% 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 ACLL / Total Loans Our ACLL increased to $494 million following the acquisition of ANC, while ACLL / total loans increased 2 bps to 1.36%

Credit Quality Trends 18 Total Delinquent Loans ($ in millions) Nonaccrual Loans ($ in millions) Total Criticized Loans ($ in millions) Net Charge Offs & Provision ($ in millions) $14 $3 $3 $3 $2 $38 $49 $58 $85 $58 $52 $52 $61 $88 $60 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Accruing Loans 30-89 Days PD $13 $13 $2 $5 $23 $18 $16 $7 $11 $19 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Total Net Charge Offs Provision for Credit Losses on Loans Accruing Loans 90+ Days PD $113 $106 $100 $111 $150 $888 $1,125 $1,067 $1,066 $1,129 $467 $412 $310 $272 $460 $1,468 $1,643 $1,478 $1,449 $1,739 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 $90 $86 $85 $83 $88 $16 $7 $8 $8 $14 $7 $13 $7 $20 $48 $113 $106 $100 $111 $150 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 CREConsumer Commercial & Business Lending Substandard AccruingSpecial Mention Nonaccrual Loans 2Q credit quality remained solid with decreasing delinquent loans and NCOs of $23 million, incl. $7 million of ANC-related NCOs

FY 2026 Outlook1 19 Previous FY 2026 Outlook April 23, 2026 Updated FY 2026 Outlook Total Loans Up 17% to 19% Up 18% to 20% Total C&I Loans Up 20% to 22% No Change Total Deposits Up 17% to 19% No Change Core Customer Deposits2 Up 19% to 21% No Change Net Interest Income Updating with 2Q Earnings Up 19% to 21% Noninterest Income Up 8% to 10% No Change Noninterest Expense3 Updating with 2Q Earnings Up 20% to 21% Effective Tax Rate 19% to 21% No Change CET1 Capital Ratio 10% to 10.75% No Change 1 Projections are on an end of period basis for Associated Banc-Corp and American National Corporation combined as of and for the year ended December 31, 2026 as compared to Associated Banc-Corp standalone 2025 results as of December 31, 2025 unless otherwise noted. 2 Core customer deposits is a non-GAAP financial measure which excludes network transaction deposits and brokered CDs from total deposits. We have not provided a reconciliation of the projection for core customer deposits to the projection for total deposits due to the low visibility and unpredictability of the components of total deposits necessary for such reconciliation. 3 Includes nonrecurring costs incurred in connection with the acquisition of American National Corporation.

Appendix Minneapolis, MN

American National Corporation Acquisition Purchase Accounting Accretion (PAA) Summary 21 Actual Scheduled1 2Q 2026 3Q 2026 4Q 2026 1Q 2027 2Q 2027 Loans (Interest Income) $4.2 $2.8 $1.7 $1.2 $0.9 Deposits (Interest Expense) (0.3) (0.2) (0.1) (0.1) (0.1) Core Deposit Intangible (Noninterest Expense) (4.7) (4.7) (4.7) (4.7) (4.2) Pre-Tax Purchase Accounting Impact, Net $(0.8) $(2.1) $(3.1) $(3.5) $(3.3) ($ in millions) 1 These scheduled amounts may vary from future actuals as they do not include potential impacts of prepayments, early withdrawals or impairments that may occur in the future.

Twin Cities 165-Year Foundation in Wisconsin…Accelerating Household, Deposit and C&I Growth in Major Metro Markets 22 ASB Branch Footprint States1 Strategic Major Metro Growth Markets 1 Upon conversion of American National Bank branches expected in October 2026. Milwaukee Chicago Omaha St. Louis Kansas City Dallas/Ft. Worth Driving Growth in Legacy Metros Expanding in Strategic Growth Markets Milwaukee Chicago Twin Cities Omaha Kansas City Dallas/Ft. Worth Expanding in 2026 New in 2026 New in 2025 Expanded in 2026 Expanding in 2026 St. Louis First MO branch in 2025

Total Loans Outstanding Balances as of June 30, 2026 23 1 All values as of period end. 2 North American Industry Classification System. ($ in millions) 6/30/2026 1 % of Total Loans 6/30/2026 1 % of Total Loans C&BL (by NAICS 2 ) CRE (by property type) Utilities 3,254$ 8.9% Multi-Family 3,907$ 10.7% Manufacturing & Wholesale Trade 2,982 8.2% Industrial 1,945 5.3% Real Estate (includes REITs) 2,617 7.2% Office 795 2.2% Finance & Insurance 1,026 2.8% Retail 721 2.0% Mortgage Warehouse 788 2.2% Hotel/Motel 349 1.0% Construction 689 1.9% Single Family Construction 276 0.8% Transportation and Warehousing 621 1.7% Warehouse 263 0.7% Retail Trade 602 1.7% Medical 261 0.7% Rental and Leasing Services 566 1.6% Land 109 0.3% Health Care and Social Assistance 427 1.2% Self Storage 18 0.1% Professional, Scientific, and Tech. Serv. 354 1.0% Other 395 1.0% Information 288 0.8% Total CRE 9,039$ 24.8% Waste Management 255 0.7% Accommodation and Food Services 153 0.4% Consumer Management of Companies & Enterprises 130 0.4% Residential Mortgage 6,808$ 18.7% Educational Services 87 0.2% Auto Finance 4,044 11.1% Arts, Entertainment, and Recreation 76 0.2% Home Equity 826 2.3% Agriculture, Forestry, Fishing and Hunting 52 0.1% Credit Cards 203 0.6% Public Administration 21 0.1% Other 221 0.5% Mining 3 0.0% Total Consumer 12,102$ 33.2% Other 335 0.7% Total C&BL 15,326$ 42.0% Total Loans 36,467$ 100.0%

Wisconsin 18% Illinois 11% Minnesota 11% Nebraska 9% Other Midwest2 18%Texas 10% Other 22% Loan Stratification Outstanding Balances as of June 30, 2026 24 1 Excludes Other Consumer portfolio. 2 Other Midwest includes Missouri, Indiana, Ohio, Michigan and Iowa. Multi-Family 43% Retail 8% Office 9% Industrial 22% Warehouse 3% Hotel / Motel 4% Other 11% Wisconsin 23% Illinois 15% Minnesota 10% Nebraska 5% Other Midwest 13% Texas 5% Other 28% Manufacturing & Wholesale Trade 19% Power & Utilities 21% Real Estate 17% Mortgage Warehouse 5% Finance & Insurance 7% Residential Mortgage 56% Auto Finance 33% Home Equity 7% Credit Cards 2% Other 2% Wisconsin 19% Illinois 14% Minnesota 8% Nebraska 4% Other Midwest 9% Texas 6% Other 41% 2 2 C&BL by State $15.3 billion Consumer by Category $12.1 billion C&BL by Industry $15.3 billion Total Loans by State1 CRE by State $9.0 billion CRE by Property Type $9.0 billion

High-Quality Commercial Real Estate Portfolio1 25 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 Portfolio LTV 57% 58% 57% 57% 53% Delinquencies3/Loans 0.17% 0.19% 0.27% 0.45% 0.05% NALs/Loans 0.22% 0.10% 0.12% 0.11% 0.16% ACLL/Loans 1.77% 1.74% 1.70% 1.68% 1.67% NCOs/Avg. Loans4 0.45% 0.49% (0.01)% (0.03)% 0.12% CRE Credit Quality CRE Loan Portfolio Granularity % of Total Loans Largest Single CRE Borrower 0.16% Top 10 Largest CRE Borrowers 1.21% Largest CRE Property Type (Multi-Family) 10.71% CRE Office Loans 2.18% CRE Office Highlights WAvg. Debt Service Coverage Ratio5 1.24x 2026 Remaining Maturities $218 million Central Business District vs. Suburban ~86% Suburban Property Class Mix6 ~50% Class A Consumer 33% Com'l & Business Lending 42% CRE 25% Total Loans by Segment Wisconsin 18% Illinois 11% Minnesota 11% Nebraska 9% Other Midwest2 18%Texas 10% Other 25% CRE by State Multi-Family 43% Retail 8% Office 9% Industrial 22% Other 18% CRE by Property Type 1 All updates as of or for the period ended June 30, 2026 unless otherwise noted. 2 Other Midwest includes Missouri, Indiana, Ohio, Michigan and Iowa. 3 Accruing loans 30-89 days past due + accruing loans 90+ days past due. 4 Calculated on an annualized basis. Negative value represents a net recovery. 5 Calculated based on the 10-year Treasury rate plus 300 basis points/25-year amortization. Excludes American National Corporation loans. 6 Property class mix determined by third-party vendor partner mapping of portfolio.

High-Quality Consumer Loan Portfolio1 26 1 All data as of or for the period ended June 30, 2026 unless otherwise noted. 6/30/2026 % of Total Loans Residential Mortgage $6,808 18.7% Auto Finance 4,044 11.1% Home Equity 826 2.3% Credit Cards 203 0.6% Other 221 0.5% Total Consumer $12,102 33.2% Prime/Super Prime Consumer Loan Portfolio 788 781 792 792 Resi. Mortgage Auto Finance Home Equity Credit Cards Weighted Avg. Portfolio FICO Scores 86% 8% 6% Portfolio FICOs Prime (660-719) Super Prime (720+) Exceptions & Other Period End Consumer Loans ($ in millions)

Stable, Granular Deposit Portfolio 27 Associated Bank, N.A. Period End Deposits ($ in billions) Liquidity Sources ($ in millions) 25% 25% 26% 26% 26% 75% 75% 74% 74% 74% $34.2 $34.9 $35.6 $35.8 $40.1 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Total of Insured & Collateralized Deposits Total of Uninsured & Uncollateralized Deposits 3/31/2026 6/30/2026 Federal Reserve Balance $915.7 $1,265.7 FHLB Chicago Capacity $5,574.2 $5,330.8 Fed Discount Window Capacity $6,506.8 $6,387.4 Funding Available Within One Business Day1 $12,996.7 $12,983.9 Fed Funds Lines $1,981.0 $1,967.0 Brokered Deposits Capacity2 $1,529.8 $2,015.0 Unsecured Debt Capacity3 $1,000.0 $1,000.0 Total Available Liquidity $17,507.5 $17,965.9 170% of uninsured, uncollateralized deposits 1 Estimated based on normal course of operations with the indicated institution. 2 Availability based on internal policy limitations. The Corporation includes outstanding deposits that have received a primary purpose exemption in the brokered deposit classification as they have similar funding characteristics and risk as brokered deposits. 3 Estimated availability based on the Corporation’s current internal funding considerations.

TBVPS Accretion / (Dilution) & Earnback Reconciliation1,2 28 1 Numbers may not recalculate due to rounding conventions. 2 This is a non-GAAP financial measure. See slides 29-31 for a reconciliation of non-GAAP financial measures to GAAP financial measures. Estimated TBVPS2 at Close $ in millions Basic shares (M) $ per share ASB standalone TBV at close2 $3,725 166 $22.45 (+) Equity consideration to ANC 604 23 (-) Core deposit intangible, net of DTL (89) (-) Goodwill created (14) (-) One-time merger expenses (37) Pro forma TBV at close2 $4,189 189 $22.18 Accretion / (dilution) to ASB - $ $(0.27) Accretion / (dilution) to ASB - % (1.2)% Crossover TBVPS earnback2 2.25 years TBVPS2 at Close $ in millions Basic shares (M) $ per share ASB standalone TBV at close2 $3,678 165 $22.23 (+) Equity consideration to ANC 594 23 (-) Core deposit intangible, net of DTL (78) (-) Goodwill created (42) (-) One-time merger expenses (41) Pro forma TBV at close2 $4,111 188 $21.82 Accretion / (dilution) to ASB - $ $(0.41) Accretion / (dilution) to ASB - % (1.9)% Crossover TBVPS earnback2 2.25 years Updated Post-CloseEstimated at Announcement (12/1/2025) American National Corporation (ANC) Acquisition

Reconciliation & Definitions of Non-GAAP Items 29 Period End Adjusted Loans Reconciliation ($ in thousands) A Jun 30, 2026 B ANC Bal as of Jun 30, 2026 A – B = Adjusted Loans ex. ANC Commercial and industrial $13,750,175 $766,171 $12,984,004 Commercial real estate—owner occupied 1,575,445 376,197 1,199,248 Commercial and business lending 15,325,620 1,142,368 14,183,252 Commercial real estate—investor 6,492,950 1,176,143 5,316,807 Real estate construction 2,546,186 227,977 2,318,209 Commercial real estate lending 9,039,136 1,404,120 7,635,016 Total commercial 24,364,756 2,546,488 21,818,268 Residential mortgage 6,808,398 138,409 6,669,989 Auto finance 4,044,416 847,719 3,196,697 Home equity 826,343 95,709 730,634 Other consumer 423,127 100,201 322,926 Total consumer 12,102,284 1,182,038 10,920,246 Total loans $36,467,040 $3,728,526 $32,738,514 Period End Adjusted Deposits Reconciliation ($ in thousands) A Jun 30, 2026 B ANC Bal as of Jun 30, 2026 A – B = Adjusted Deposits ex. ANC Noninterest-bearing demand $6,908,338 $985,791 $5,922,547 Savings 6,171,614 252,193 5,919,421 Interest-bearing demand 8,697,879 824,379 7,873,500 Money market 7,614,164 1,590,702 6,023,462 Network transaction deposits 1,823,130 65,003 1,758,127 Brokered CDs 3,933,787 202,806 3,730,981 Other time deposits 4,782,343 496,765 4,285,578 Total deposits $39,931,255 $4,417,639 $35,513,616 Core customer deposits1 $34,174,338 $4,149,830 $30,024,508 1 Core customer deposits is a non-GAAP financial measure which excludes network transaction deposits and brokered CDs from total deposits.

Tangible Common Equity & Tangible Assets Reconciliation ($ in thousands) 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 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 TCE Ratio and TBV / share $4,179,977 $3,678,121 $3,653,393 $3,544,142 $3,454,422 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 $42,861,482 Reconciliation & Definitions of Non-GAAP Items 30 Period End Core Customer Deposits Reconciliation ($ in thousands) 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 2Q 2024 2Q 2023 Total deposits $39,931,255 $35,731,765 $35,552,608 $34,881,853 $34,147,565 $32,691,039 $32,014,409 Less: Network transaction deposits 1,823,130 1,746,518 2,154,995 2,013,964 1,792,362 1,502,919 1,600,619 Less: Brokered CDs 3,933,787 3,562,752 3,795,133 3,956,517 4,072,048 4,061,578 3,818,325 Core customer deposits $34,174,338 $30,422,495 $29,602,480 $28,911,371 $28,283,155 $27,126,542 $26,595,465 Average Core Customer Deposits Reconciliation ($ in thousands) 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 Average total deposits $40,382,227 $35,160,943 $35,628,917 $34,705,887 $34,203,201 Less: Average network transaction deposits 1,879,876 1,917,854 2,090,587 1,933,659 1,843,998 Less: Average brokered CDs 4,085,995 3,528,294 3,998,012 3,916,329 4,089,844 Average core customer deposits $34,416,356 $29,714,795 $29,540,318 $28,855,899 $28,269,359 Adjusted Net Income Available to Common Equity Reconciliation ($ in thousands) 2Q 2026 Net income available to common equity $120,689 Acquisition costs, net of tax1 18,996 Adjusted net income available to common equity for adjusted earnings per share $139,685 1 During the fourth quarter of 2025, the Corporation entered into a definitive agreement to acquire American National Corporation. The acquisition was completed on April 1, 2026. These costs, incurred in connection with the acquisition, represent nonrecurring costs.

Reconciliation & Definitions of Non-GAAP Items 31 Update 1 During the fourth quarter of 2025, the Corporation entered into a definitive agreement to acquire American National Corporation. The acquisition was completed on April 1, 2026. These costs, incurred in connection with the acquisition, represent nonrecurring costs. Non-GAAP Efficiency Ratios Reconciliation ($ in thousands) 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 Total expense for efficiency ratios reconciliation Noninterest expense $271,882 $219,163 $219,466 $216,202 $209,352 Less: Other intangible amortization 6,894 2,203 2,203 2,203 2,203 Total expense for fully tax-equivalent efficiency ratio 264,988 216,960 217,263 213,999 207,149 Less: Acquisition costs1 24,469 1,007 252 - - Total expense for adjusted efficiency ratio $240,519 $215,953 $217,011 $213,999 $207,149 Total revenue for efficiency ratios reconciliation Net interest income $370,039 $307,190 $309,981 $305,222 $300,000 Noninterest income 80,398 75,857 79,384 81,265 66,977 Less: Investment securities (losses) gains, net 35 (28) 37 1 7 Fully tax-equivalent adjustment 4,139 4,139 4,196 4,222 4,228 Total revenue for fully tax-equivalent efficiency ratio 454,541 387,214 393,524 390,708 371,198 Less: Announced initiatives - - - - - Total revenue for adjusted efficiency ratio $454,541 $387,214 $393,524 $390,708 $371,198 Return on Average Tangible Common Equity (ROATCE) Reconciliation ($ in thousands) 2Q 2026 Net income available to common equity $120,689 Other intangible amortization, net of tax 5,170 Adjusted net income available to common equity for ROATCE $125,859 Acquisition costs, net of tax1 18,996 Adjusted net income available to common equity for adjusted ROATCE $144,855 Average common equity $5,433,872 Less: Average goodwill and other intangible assets, net 1,267,876 Average tangible common equity for ROATCE $4,165,996

Thank You De Pere, WI

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