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Associated Banc (ASB) Financials

Associated Banc logo
$28.08 +0.09 (+0.33%)
Closing price 05/21/2026 03:59 PM Eastern
Extended Trading
$27.97 -0.11 (-0.40%)
As of 04:00 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Associated Banc

Annual Income Statements for Associated Banc

This table shows Associated Banc's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 181 191 220 323 312 288 334 355 171 112 463
Consolidated Net Income / (Loss)		 188 200 229 334 327 307 351 366 183 154 475
Net Income / (Loss) Continuing Operations		 188 200 275 387 377 664 408 366 183 154 475
Total Pre-Tax Income 		270 288 339 413 407 327 436 460 206 134 578
Total Revenue		 1,006 1,060 1,120 1,288 1,266 1,545 1,115 1,240 1,103 1,038 1,488
Net Interest Income / (Expense)		 676 707 741 880 836 763 726 957 1,040 1,047 1,201
Total Interest Income		 754 792 887 1,154 1,173 913 798 1,145 1,958 2,123 2,173
Loans and Leases Interest Income		 616 660 749 977 998 785 694 993 1,720 1,830 1,782
Investment Securities Interest Income		 131 127 130 165 158 118 97 141 209 257 344
Other Interest Income		 6.59 4.83 7.72 13 17 9.47 7.83 11 28 35 47
Total Interest Expense		 77 84 145 275 337 150 72 188 918 1,075 972
Deposits Interest Expense		 33 50 94 176 237 68 19 98 674 902 804
Short-Term Borrowings Interest Expense		 0.47 0.25 0.29 0.18 0.14 0.05 0.02 0.00 0.00 18 1.02
Long-Term Debt Interest Expense		 43 32 49 96 98 82 54 86 233 144 156
Federal Funds Purchased and Securities Sold Interest Expense		 0.94 1.31 2.53 2.01 1.58 0.49 0.14 3.48 12 12 10
Total Non-Interest Income		 329 353 333 356 381 514 332 282 63 -9.41 286
Other Service Charges		 245 329 363 397 410 375 365 266 248 186 275
Net Realized & Unrealized Capital Gains on Investments		 11 9.23 -0.81 -1.99 5.96 335 11 5.08 -195 -276 -5.36
Other Non-Interest Income		 9.80 14 16 14 15 72 13 11 10 80 17
Provision for Credit Losses		 38 70 26 0.00 16 174 -88 33 83 85 54
Total Non-Interest Expense		 698 703 709 822 794 776 710 747 814 818 856
Salaries and Employee Benefits		 405 425 429 483 487 432 427 454 468 488 522
Net Occupancy & Equipment Expense		 145 135 138 155 168 167 166 170 179 181 186
Marketing Expense		 26 26 29 31 30 18 21 26 28 28 32
Property & Liability Insurance Claims		 43 55 54 53 36 20 18 23 67 38 37
Other Operating Expenses		 77 60 57 63 63 39 69 60 57 43 62
Amortization Expense		 3.09 2.09 1.96 8.16 9.95 10 8.84 8.81 8.81 8.81 8.81
Income Tax Expense		 81 87 110 80 80 20 85 94 23 11 103
Preferred Stock Dividends Declared		 7.16 8.90 9.35 11 15 18 17 12 12 12 12
Basic Earnings per Share		 $1.20 $1.27 $1.45 $1.92 $1.93 $1.87 $2.20 $2.36 $1.14 $0.73 $2.79
Weighted Average Basic Shares Outstanding		 149.35M 148.77M 150.88M 167.35M 160.53M 153.01M 150.77M 149.16M 149.97M 151.93M 165.08M
Diluted Earnings per Share		 $1.19 $1.26 $1.42 $1.89 $1.91 $1.86 $2.18 $2.34 $1.13 $0.72 $2.77
Weighted Average Diluted Shares Outstanding		 150.60M 149.96M 153.65M 169.73M 161.93M 153.64M 151.99M 150.50M 150.86M 153.35M 166.61M
Weighted Average Basic & Diluted Shares Outstanding		 151M 150.70M 151.70M 164.34M 312.91M 305.66M 299.21M 301.08M 302.18M 166.25M 165.98M
Cash Dividends to Common per Share		 - - - - - - - $0.81 $0.85 $0.89 $0.93

Quarterly Income Statements for Associated Banc

This table shows Associated Banc's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 80 -94 78 113 85 -164 99 108 122 134 117
Consolidated Net Income / (Loss)		 83 -91 81 116 88 -116 102 111 125 137 120
Net Income / (Loss) Continuing Operations		 85 -93 81 116 91 -119 104 114 125 132 120
Total Pre-Tax Income 		103 -138 101 103 108 -178 121 140 154 163 153
Total Revenue		 321 122 319 322 330 64 345 367 386 389 383
Net Interest Income / (Expense)		 254 253 258 257 263 270 286 300 305 310 307
Total Interest Income		 509 525 523 530 540 529 526 546 557 545 528
Loans and Leases Interest Income		 448 458 454 457 466 453 433 448 456 446 427
Investment Securities Interest Income		 54 57 61 65 66 65 84 85 88 87 89
Other Interest Income		 6.58 10 7.60 8.54 8.70 10 9.24 13 13 12 12
Total Interest Expense		 254 272 266 274 278 258 240 246 251 235 221
Deposits Interest Expense		 193 209 226 221 232 223 209 198 202 195 175
Short-Term Borrowings Interest Expense		 0.00 0.00 4.71 6.08 6.14 0.67 0.41 0.29 0.21 0.52 0.12
Long-Term Debt Interest Expense		 58 59 32 44 37 32 27 46 47 37 42
Federal Funds Purchased and Securities Sold Interest Expense		 3.10 3.73 2.86 2.30 3.39 3.20 3.62 2.00 2.11 2.68 3.73
Total Non-Interest Income		 67 -131 65 65 67 -207 59 67 81 79 76
Other Service Charges		 64 61 9.04 61 64 20 61 65 74 75 71
Net Realized & Unrealized Capital Gains on Investments		 0.61 -195 -0.31 -0.56 -0.37 -278 -7.85 -1.73 3.34 0.88 0.81
Other Non-Interest Income		 2.05 3.38 52 4.58 4.00 52 5.20 4.14 4.05 3.81 3.82
Provision for Credit Losses		 22 21 24 23 21 17 13 18 16 7.00 11
Total Non-Interest Expense		 196 239 198 196 201 224 211 209 216 219 219
Salaries and Employee Benefits		 117 121 119 122 121 126 124 127 136 135 135
Net Occupancy & Equipment Expense		 45 47 44 45 45 46 47 44 46 50 49
Marketing Expense		 7.10 8.35 6.52 7.54 6.68 7.41 6.39 7.75 8.36 9.12 7.83
Property & Liability Insurance Claims		 9.15 41 14 7.13 8.22 9.14 10 9.71 9.98 6.59 8.84
Other Operating Expenses		 13 16 7.21 11 14 -9.13 18 16 13 15 14
Amortization Expense		 2.20 2.20 2.20 2.20 2.20 2.20 2.20 2.20 2.20 2.20 2.20
Income Tax Expense		 19 -47 20 -13 20 -16 19 28 30 26 33
Preferred Stock Dividends Declared		 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88
Basic Earnings per Share		 $0.53 ($0.62) $0.52 $0.75 $0.56 ($1.10) $0.60 $0.65 $0.73 $0.81 $0.70
Weighted Average Basic Shares Outstanding		 150.04M 149.97M 149.86M 149.87M 150.25M 151.93M 165.23M 164.94M 165.03M 165.08M 165.10M
Diluted Earnings per Share		 $0.53 ($0.62) $0.52 $0.74 $0.56 ($1.10) $0.59 $0.65 $0.73 $0.80 $0.70
Weighted Average Diluted Shares Outstanding		 151.01M 150.86M 151.29M 151.29M 151.49M 153.35M 166.60M 166.34M 166.70M 166.61M 166.56M
Weighted Average Basic & Diluted Shares Outstanding		 301.88M 302.18M 301.53M 301.80M 151.26M 166.25M 165.81M 165.85M 165.92M 165.98M 165.94M
Cash Dividends to Common per Share		 - - $0.22 $0.22 $0.22 - $0.23 $0.23 $0.23 - $0.24

Annual Cash Flow Statements for Associated Banc

This table details how cash moves in and out of Associated Banc's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -558 169 74 161 -288 445 154 -975 -192 96 -691
Net Cash From Operating Activities		 301 641 458 497 574 550 530 847 443 580 616
Net Cash From Continuing Operating Activities		 301 641 485 415 629 -1,083 289 276 793 583 612
Net Income / (Loss) Continuing Operations		 188 200 229 334 327 307 351 366 183 123 475
Consolidated Net Income / (Loss)		 188 200 229 334 327 307 351 366 183 123 475
Provision For Loan Losses		 38 70 26 0.00 16 174 -88 33 83 85 54
Depreciation Expense		 50 51 67 68 78 51 81 80 81 84 86
Amortization Expense		 55 61 50 29 34 35 24 24 47 54 52
Non-Cash Adjustments to Reconcile Net Income		 -22 246 117 -22 206 -1,650 -42 134 180 244 -16
Changes in Operating Assets and Liabilities, net		 -7.39 14 -4.29 6.55 -32 - -37 -360 218 -5.99 -38
Net Cash From Investing Activities		 -1,534 -1,653 -1,397 -381 1,617 -794 -1,584 -5,255 -1,436 -2,219 -1,625
Net Cash From Continuing Investing Activities		 -1,536 -1,653 -1,397 -500 572 -619 -1,584 -5,255 -2,281 -2,219 -2,189
Purchase of Investment Securities		 -4,299 -3,300 -2,550 -2,211 -1,820 -3,384 -3,292 -6,090 -3,760 -4,884 -3,704
Sale and/or Maturity of Investments		 2,817 1,751 1,200 1,777 2,460 2,819 1,707 835 1,479 2,665 1,514
Net Cash From Financing Activities		 674 1,180 1,012 45 -2,480 371 1,364 4,004 1,296 1,735 1,710
Net Cash From Continuing Financing Activities		 674 1,180 1,012 45 -2,098 2,148 1,449 4,001 1,293 1,729 882
Net Change in Deposits		 2,244 881 898 270 -1,843 2,497 2,047 1,170 3,810 1,202 904
Issuance of Debt		 250 515 750 2,138 0.00 - 94 3,375 -2,373 296 779
Issuance of Preferred Equity		 63 97 0.00 97 0.00 97 - - 0.00 0.00 0.00
Issuance of Common Equity		 20 22 28 18 - - 26 11 4.30 369 6.89
Repayment of Debt		 -1,734 -172 -531 -2,115 58 -239 -282 -413 -0.69 37 -612
Repurchase of Common Equity		 -5.15 -5.07 -9.29 -214 -186 -77 -138 -7.42 -6.59 -25 -29
Payment of Dividends		 -70 -77 -86 -116 -127 -130 -133 -135 -141 -151 -167
Other Financing Activities, Net		 -93 -20 -37 -33 - - - - 0.00 0.00 -0.05
Cash Interest Paid		 73 88 138 262 333 159 82 175 839 1,075 988
Cash Income Taxes Paid		 84 76 81 18 41 18 58 18 69 18 1.52

Quarterly Cash Flow Statements for Associated Banc

This table details how cash moves in and out of Associated Banc's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 83 -245 -72 108 7.95 97 213 592 33 -965 -334
Net Cash From Operating Activities		 199 65 155 113 105 207 98 141 158 218 136
Net Cash From Continuing Operating Activities		 199 453 155 113 105 251 108 708 156 -350 142
Net Income / (Loss) Continuing Operations		 83 -91 81 116 88 -162 102 111 125 137 120
Consolidated Net Income / (Loss)		 83 -91 81 116 88 -162 102 111 125 137 120
Provision For Loan Losses		 22 21 24 23 21 17 13 18 16 7.00 11
Depreciation Expense		 20 21 21 21 20 21 23 20 21 22 21
Amortization Expense		 13 13 13 12 13 16 8.54 14 14 15 14
Non-Cash Adjustments to Reconcile Net Income		 -21 222 -20 -31 16 278 22 519 14 -571 -16
Changes in Operating Assets and Liabilities, net		 82 266 35 -27 -53 81 -60 25 -33 41 -8.19
Net Cash From Investing Activities		 -407 788 -275 -380 -518 -1,046 -127 -638 -485 -375 -824
Net Cash From Continuing Investing Activities		 -407 -56 -275 -380 -518 -1,046 -127 -638 -485 -375 -824
Purchase of Property, Leasehold Improvements and Equipment		 -14 - -8.50 -12 -12 - - - - - -8.70
Purchase of Investment Securities		 -566 -1,038 -583 -594 -936 -2,771 -992 -995 -827 -890 -1,251
Sale and/or Maturity of Investments		 173 938 316 226 429 1,694 865 357 342 515 436
Net Cash From Financing Activities		 291 -642 49 374 421 891 242 524 360 584 354
Net Cash From Continuing Financing Activities		 291 -644 49 374 422 885 242 524 360 -243 354
Net Change in Deposits		 109 1,323 267 -1,022 863 1,094 548 -1,049 734 671 179
Issuance of Debt		 1.25 -2,667 0.62 2.04 299 634 0.00 189 0.90 578 0.00
Issuance of Common Equity		 0.50 1.94 3.91 0.53 8.85 355 2.19 0.09 2.59 2.01 7.12
Repayment of Debt		 215 734 -164 1,431 -712 -1,157 -239 1,425 -336 -1,451 243
Repurchase of Common Equity		 -0.26 -0.09 -23 -1.09 -0.35 -0.23 -28 -0.09 -0.35 -0.48 -32
Payment of Dividends		 -35 -36 -36 -36 -36 -41 -41 -41 -41 -43 -43
Other Financing Activities, Net		 - - 0.00 - - - -0.05 - - - 0.00
Cash Interest Paid		 229 263 250 275 272 279 242 247 275 225 219
Cash Income Taxes Paid		 9.40 1.04 2.00 1.42 3.55 11 0.00 2.24 -0.22 16 0.00

Annual Balance Sheets for Associated Banc

This table presents Associated Banc's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 27,712 29,139 30,484 33,615 32,386 33,420 35,104 39,406 41,016 43,023 45,203
Cash and Due from Banks		 375 447 484 507 373 416 344 437 484 544 575
Federal Funds Sold		 19 47 33 148 7.74 1.14 0.00 28 14 22 1.40
Interest Bearing Deposits at Other Banks		 80 149 200 221 208 299 682 157 425 454 1,144
Trading Account Securities		 6,293 6,006 6,396 6,689 5,483 3,101 - 2,767 3,643 4,605 5,424
Loans and Leases, Net of Allowance		 18,440 19,776 20,519 22,702 22,620 24,068 23,945 28,487 28,865 29,405 30,786
Loans and Leases		 18,714 20,055 20,785 22,940 22,821 24,452 24,225 28,800 29,216 29,769 31,164
Allowance for Loan and Lease Losses		 274 278 266 238 201 384 280 313 351 364 378
Loans Held for Sale		 - 120 86 79 151 129 - 20 123 679 72
Premises and Equipment, Net		 268 330 331 363 435 419 385 377 373 379 382
Goodwill		 969 972 976 1,169 1,176 1,109 1,105 1,105 1,105 1,105 1,105
Intangible Assets		 16 15 16 76 88 68 58 49 40 32 23
Other Assets		 1,252 1,276 1,444 1,660 1,844 3,810 3,195 5,979 5,943 5,799 5,691
Total Liabilities & Shareholders' Equity		 27,712 29,139 30,484 33,615 32,386 33,420 35,104 39,406 41,016 43,023 45,203
Total Liabilities		 24,775 26,048 27,246 29,834 28,464 29,329 20,311 35,390 36,842 38,418 40,227
Non-Interest Bearing Deposits		 5,562 5,392 5,478 5,699 5,451 7,662 - 7,761 6,120 5,776 6,127
Interest Bearing Deposits		 15,445 16,496 17,308 19,199 18,328 18,821 19,962 21,875 27,326 28,873 29,426
Short-Term Debt		 403 584 67 45 32 59 - 21 0.00 470 308
Long-Term Debt		 2,676 2,762 3,681 4,370 3,730 2,182 - 4,568 2,481 2,691 3,862
Other Long-Term Liabilities		 256 306 386 410 490 412 349 580 588 607 504
Total Equity & Noncontrolling Interests		 2,937 3,091 3,237 3,781 3,922 4,091 3,832 4,015 4,174 4,606 4,975
Total Preferred & Common Equity		 2,937 3,091 3,237 3,781 3,922 4,091 4,025 4,015 4,174 4,606 4,975
Preferred Stock		 121 160 160 257 257 354 - 194 194 194 194
Total Common Equity		 2,816 2,931 3,078 3,524 3,665 3,737 3,832 3,821 3,980 4,411 4,781
Common Stock		 1,460 1,461 1,340 1,714 1,718 1,722 1,716 1,714 1,717 2,049 2,052
Retained Earnings		 1,593 1,696 1,935 2,181 2,381 2,459 2,673 2,905 2,947 2,919 3,227
Treasury Stock		 -205 -171 -135 -247 -400 -456 -546 -525 -512 -483 -490
Accumulated Other Comprehensive Income / (Loss)		 -33 -55 -63 -125 -33 13 -10 -273 -171 -74 -7.57

Quarterly Balance Sheets for Associated Banc

This table presents Associated Banc's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 38,050 40,703 41,219 41,637 41,137 41,624 42,211 43,309 43,994 44,456 45,594
Cash and Due from Banks		 386 311 408 389 430 471 555 521 521 490 465
Federal Funds Sold		 4.02 - 31 0.97 1.61 3.60 4.31 0.11 0.00 0.09 0.18
Interest Bearing Deposits at Other Banks		 112 511 191 323 420 485 408 711 739 802 921
Trading Account Securities		 6,464 3,412 7,475 7,428 7,577 7,735 4,176 4,820 5,062 5,243 5,541
Loans and Leases, Net of Allowance		 27,524 28,881 29,525 29,847 29,138 29,262 29,629 29,923 30,231 30,574 31,412
Loans and Leases		 27,817 29,207 29,864 30,193 29,494 29,618 29,991 30,294 30,608 30,952 31,798
Allowance for Loan and Lease Losses		 293 326 339 346 356 356 362 371 377 378 386
Loans Held for Sale		 51 - 38 55 52 84 79 56 105 75 87
Premises and Equipment, Net		 379 376 375 373 368 370 374 378 377 384 377
Goodwill		 1,105 1,105 1,105 1,105 1,105 1,105 1,105 1,105 1,105 1,105 1,105
Intangible Assets		 51 47 45 43 38 36 34 29 27 25 21
Other Assets		 1,972 1,014 2,027 2,074 2,007 2,073 5,847 5,767 5,825 5,757 5,665
Total Liabilities & Shareholders' Equity		 38,050 40,703 41,219 41,637 41,137 41,624 42,211 43,309 43,994 44,456 45,594
Total Liabilities		 34,096 53,783 37,097 37,510 36,968 37,382 37,798 38,623 39,213 39,588 40,596
Non-Interest Bearing Deposits		 8,225 30,332 6,566 6,423 6,254 5,815 5,857 6,136 5,782 5,906 6,125
Interest Bearing Deposits		 20,974 23,003 25,449 25,700 27,459 26,876 27,697 29,061 28,365 28,976 29,607
Short-Term Debt		 7.69 - 15 0.00 766 860 917 311 76 400 396
Long-Term Debt		 4,027 - 4,165 4,263 1,869 3,209 2,758 2,619 4,473 3,815 4,014
Other Long-Term Liabilities		 586 448 576 672 620 622 569 496 517 491 454
Total Equity & Noncontrolling Interests		 3,954 3,932 4,123 4,128 4,169 4,242 4,413 4,687 4,781 4,868 4,998
Total Preferred & Common Equity		 3,954 4,126 4,123 4,128 4,169 4,242 4,413 4,687 4,781 4,868 4,998
Preferred Stock		 194 - 194 194 194 194 194 194 194 194 194
Total Common Equity		 3,760 3,932 3,929 3,934 3,975 4,048 4,219 4,492 4,587 4,674 4,804
Common Stock		 1,712 1,708 1,710 1,713 1,710 1,713 1,716 2,042 2,046 2,050 2,054
Retained Earnings		 2,831 2,973 3,026 3,074 2,992 3,071 3,122 2,980 3,049 3,133 3,303
Treasury Stock		 -527 -516 -515 -515 -518 -516 -507 -494 -495 -492 -510
Accumulated Other Comprehensive Income / (Loss)		 -255 -234 -292 -339 -210 -219 -112 -35 -14 -16 -45

Annual Metrics And Ratios for Associated Banc

This table displays calculated financial ratios and metrics derived from Associated Banc's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 165,922,444.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 165,922,444.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.86
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.20 $1.27 $1.45 $1.92 $1.93 $1.87 $2.20 $2.36 $1.14 $0.73 $2.79
Adjusted Weighted Average Basic Shares Outstanding		 149.35M 148.77M 150.88M 167.35M 160.53M 153.01M 150.77M 149.16M 149.97M 151.93M 165.08M
Adjusted Diluted Earnings per Share		 $1.19 $1.26 $1.42 $1.89 $1.91 $1.86 $2.18 $2.34 $1.13 $0.72 $2.77
Adjusted Weighted Average Diluted Shares Outstanding		 150.60M 149.96M 153.65M 169.73M 161.93M 153.64M 151.99M 150.50M 150.86M 153.35M 166.61M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 149.71M 151.81M 151.69M 164.34M 312.91M 305.66M 299.21M 301.08M 302.18M 166.25M 165.98M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Associated Banc

This table displays calculated financial ratios and metrics derived from Associated Banc's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 165,922,444.00 165,975,086.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 165,922,444.00 165,975,086.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.83 0.72
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -4.30% -65.10% -3.94% -0.53% 2.78% -48.10% 8.07% 14.06% 17.21% - 11.12%
EBITDA Growth		 -7.66% -165.77% -11.64% -8.99% 3.82% -35.32% 15.80% 28.27% 34.37% - 23.45%
EBIT Growth		 -16.14% -202.92% -22.58% -7.05% 5.32% -28.80% 24.45% 35.72% 42.67% - 26.25%
NOPAT Growth		 -13.53% -188.82% -21.47% 32.61% 5.73% -28.80% 25.28% -3.76% 41.71% - 17.65%
Net Income Growth		 -13.53% -183.49% -21.47% 32.61% 5.73% -27.95% 25.28% -3.76% 41.71% - 17.65%
EPS Growth		 -14.52% -189.86% -21.21% 32.14% 5.66% -77.42% 13.46% -12.16% 30.36% - 18.64%
Operating Cash Flow Growth		 -14.55% -47.98% 225.47% -13.56% -47.26% 220.48% -36.46% 24.65% 50.27% - 38.40%
Free Cash Flow Firm Growth		 9.55% -70.59% -205.90% 114.84% 222.61% -141.36% 96.41% -941.80% -322.95% - -135.10%
Invested Capital Growth		 5.03% -22.65% 152.01% 0.09% -3.60% 9.64% 11.95% 12.25% 12.30% - 23.52%
Revenue Q/Q Growth		 -0.82% -61.85% 81.98% -0.34% 2.48% -80.74% 442.72% 6.46% 5.32% - -1.62%
EBITDA Q/Q Growth		 -8.74% -176.38% 376.46% 0.28% 4.10% -199.56% 208.23% 14.35% 9.05% - -5.59%
EBIT Q/Q Growth		 -7.24% -234.41% 221.91% 1.68% 5.11% -264.37% 168.13% 15.31% 10.50% - -6.15%
NOPAT Q/Q Growth		 -4.48% -216.05% 184.02% 42.39% -23.84% -241.36% 181.72% 9.39% 12.14% - -12.76%
Net Income Q/Q Growth		 -4.48% -209.08% 189.39% 42.39% -23.84% -232.00% 187.52% 9.38% 12.14% - -12.76%
EPS Q/Q Growth		 -5.36% -216.98% 183.87% 42.31% -24.32% -296.43% 153.64% 10.17% 12.31% - -12.50%
Operating Cash Flow Q/Q Growth		 51.82% -67.58% 139.05% -26.54% -7.38% 97.03% -52.61% 44.11% 11.66% - -37.70%
Free Cash Flow Firm Q/Q Growth		 56.16% 681.91% -1,398.25% 100.54% 262.16% -296.28% 7.17% -27.57% 4.08% - -34.70%
Invested Capital Q/Q Growth		 1.05% -20.68% -2.56% 22.15% -2.68% -9.78% 4.38% 22.49% -2.64% - 2.87%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 42.44% -84.97% 41.94% 42.20% 42.87% -221.56% 44.18% 47.46% 49.14% - 49.09%
EBIT Margin		 32.00% -112.76% 31.34% 31.98% 32.80% -279.85% 35.13% 38.05% 39.92% - 39.91%
Profit (Net Income) Margin		 25.95% -74.19% 25.14% 35.92% 26.69% -182.93% 29.50% 30.31% 32.27% - 31.23%
Tax Burden Percent		 81.08% 65.80% 80.22% 112.33% 81.39% 65.37% 83.97% 79.66% 80.84% - 78.25%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate		 18.92% 0.00% 19.78% -12.33% 18.61% 0.00% 16.03% 20.34% 19.16% - 21.75%
Return on Invested Capital (ROIC)		 4.39% -11.41% 0.00% 4.94% 3.73% -29.14% 4.35% 3.81% 4.38% - 5.60%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.39% -11.24% 0.00% 4.94% 3.73% -28.84% 4.35% 3.81% 4.38% - 5.60%
Return on Net Nonoperating Assets (RNNOA)		 4.51% -9.71% 0.00% 4.87% 3.47% -18.03% 2.73% 3.64% 3.72% - 4.24%
Return on Equity (ROE)		 8.90% -21.12% 3.97% 9.81% 7.20% -47.17% 7.09% 7.45% 8.11% - 9.84%
Cash Return on Invested Capital (CROIC)		 -0.23% 27.94% -289.89% 2.18% 6.02% -7.43% -9.28% -9.97% -9.54% - -15.26%
Operating Return on Assets (OROA)		 1.11% -3.09% 0.88% 0.88% 0.90% -6.91% 0.88% 0.99% 1.07% - 1.37%
Return on Assets (ROA)		 0.90% -2.03% 0.70% 0.99% 0.73% -4.52% 0.74% 0.79% 0.87% - 1.07%
Return on Common Equity (ROCE)		 8.48% -20.12% 3.87% 9.36% 6.87% -46.10% 6.78% 7.13% 7.77% - 9.45%
Return on Equity Simple (ROE_SIMPLE)		 9.27% 0.00% 3.86% 4.46% 4.39% 0.00% 4.03% 3.86% 4.55% - 9.86%
Net Operating Profit after Tax (NOPAT)		 83 -97 81 116 88 -124 102 111 125 - 120
NOPAT Margin		 25.95% -78.93% 25.14% 35.92% 26.69% -195.90% 29.50% 30.31% 32.27% - 31.23%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.16% 0.00% 0.00% 0.00% -0.31% 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 52.86% 144.00% 52.76% 54.03% 52.51% 282.43% 51.44% 48.61% 49.10% - 50.14%
Operating Expenses to Revenue		 61.16% 195.60% 61.22% 60.87% 60.84% 353.11% 61.10% 57.05% 55.94% - 57.22%
Earnings before Interest and Taxes (EBIT)		 103 -138 101 103 108 -178 121 140 154 - 153
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 136 -104 135 136 141 -141 152 174 190 - 188
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.63 0.78 0.81 0.79 0.77 0.82 0.83 0.88 0.91 - 0.89
Price to Tangible Book Value (P/TBV)		 0.89 1.10 1.13 1.10 1.06 1.10 1.12 1.17 1.20 - 1.17
Price to Revenue (P/Rev)		 1.78 2.81 2.81 2.79 2.82 3.48 3.52 3.65 3.66 - 2.81
Price to Earnings (P/E)		 6.67 18.10 21.53 17.95 17.81 32.38 28.34 31.64 25.92 - 8.92
Dividend Yield		 5.13% 4.13% 4.04% 4.11% 4.09% 3.72% 3.99% 3.73% 3.58% - 3.64%
Earnings Yield		 15.00% 5.52% 4.65% 5.57% 5.61% 3.09% 3.53% 3.16% 3.86% - 11.21%
Enterprise Value to Invested Capital (EV/IC)		 0.74 0.73 0.76 0.78 0.76 0.72 0.74 0.81 0.81 - 0.80
Enterprise Value to Revenue (EV/Rev)		 4.48 4.40 4.54 5.68 5.34 5.09 5.30 6.79 6.33 - 4.92
Enterprise Value to EBITDA (EV/EBITDA)		 9.53 14.51 13.96 18.12 16.92 19.45 19.27 22.74 19.44 - 10.00
Enterprise Value to EBIT (EV/EBIT)		 11.65 23.57 22.42 29.02 26.84 39.32 35.62 38.60 30.60 - 12.32
Enterprise Value to NOPAT (EV/NOPAT)		 16.25 26.54 32.29 34.32 31.72 42.93 39.24 54.03 41.92 - 15.24
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.38 10.97 9.44 12.20 14.05 9.11 10.76 13.64 12.20 - 11.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.28 0.00 35.80 12.40 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.03 0.59 0.63 0.96 0.83 0.61 0.63 0.95 0.87 - 0.88
Long-Term Debt to Equity		 1.03 0.59 0.45 0.76 0.62 0.61 0.56 0.94 0.78 - 0.80
Financial Leverage		 1.03 0.86 -1.77 0.99 0.93 0.63 0.63 0.96 0.85 - 0.76
Leverage Ratio		 9.86 9.82 10.10 9.90 9.82 9.79 9.54 9.49 9.34 - 9.18
Compound Leverage Factor		 9.86 9.82 10.10 9.90 9.82 9.79 9.54 9.49 9.34 - 9.18
Debt to Total Capital		 50.80% 37.28% 38.73% 48.96% 45.43% 37.89% 38.47% 48.76% 46.40% - 46.88%
Short-Term Debt to Total Capital		 0.00% 0.00% 11.25% 10.34% 11.34% 0.00% 4.09% 0.81% 4.40% - 4.21%
Long-Term Debt to Total Capital		 50.80% 37.28% 27.48% 38.61% 34.10% 37.89% 34.38% 47.95% 42.00% - 42.67%
Preferred Equity to Total Capital		 2.31% 2.92% 2.85% 2.34% 2.40% 0.00% 2.55% 2.08% 2.14% - 2.06%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 46.88% 59.80% 58.42% 48.71% 52.17% 62.11% 58.98% 49.16% 51.46% - 51.06%
Debt to EBITDA		 6.54 7.42 7.09 11.35 10.11 9.90 10.01 13.74 11.10 - 5.87
Net Debt to EBITDA		 5.44 4.66 4.80 8.68 7.45 6.15 5.80 9.94 7.70 - 4.03
Long-Term Debt to EBITDA		 6.54 7.42 5.03 8.96 7.59 9.90 8.95 13.51 10.05 - 5.34
Debt to NOPAT		 11.14 13.56 16.39 21.51 18.95 21.86 20.40 32.65 23.94 - 8.95
Net Debt to NOPAT		 9.28 8.51 11.09 16.44 13.96 13.58 11.82 23.60 16.60 - 6.14
Long-Term Debt to NOPAT		 11.14 13.56 11.63 16.96 14.22 21.86 18.23 32.11 21.67 - 8.15
Noncontrolling Interest Sharing Ratio		 4.80% 4.74% 2.40% 4.64% 4.55% 2.26% 4.38% 4.30% 4.18% - 4.01%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -318 1,852 -19,803 108 390 -766 -711 -907 -870 - -1,672
Operating Cash Flow to CapEx		 1,436.37% 0.00% 1,817.65% 985.55% 899.57% 0.00% 0.00% 0.00% 0.00% - 1,561.49%
Free Cash Flow to Firm to Interest Expense		 -1.25 6.81 -74.58 0.39 1.40 -2.96 -2.96 -3.69 -3.46 - -7.57
Operating Cash Flow to Interest Expense		 0.78 0.24 0.58 0.41 0.38 0.80 0.41 0.58 0.63 - 0.62
Operating Cash Flow Less CapEx to Interest Expense		 0.73 0.24 0.55 0.37 0.34 0.80 0.41 0.58 0.63 - 0.58
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.03 0.03 0.03 0.02 0.03 0.03 0.03 - 0.03
Fixed Asset Turnover		 3.69 2.94 3.08 3.07 3.08 2.76 2.85 2.97 3.08 - 4.05
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 8,390 6,655 6,804 8,311 8,088 7,297 7,617 9,329 9,083 - 9,408
Invested Capital Turnover		 0.17 0.14 -0.36 0.14 0.14 0.15 0.15 0.13 0.14 - 0.18
Increase / (Decrease) in Invested Capital		 402 -1,949 19,885 7.81 -302 642 813 1,018 995 - 1,791
Enterprise Value (EV)		 6,217 4,856 5,191 6,492 6,152 5,287 5,637 7,527 7,380 - 7,510
Market Capitalization		 2,473 3,104 3,213 3,189 3,250 3,615 3,746 4,044 4,264 - 4,292
Book Value per Share		 $26.06 $26.37 $26.52 $26.85 $27.96 $29.17 $27.02 $27.66 $28.18 - $28.94
Tangible Book Value per Share		 $18.46 $18.78 $18.89 $19.28 $20.41 $21.65 $20.20 $20.83 $21.37 - $22.16
Total Capital		 8,390 6,655 6,804 8,311 8,088 7,103 7,617 9,329 9,083 - 9,408
Total Debt		 4,263 2,481 2,635 4,069 3,675 2,691 2,930 4,549 4,214 - 4,410
Total Long-Term Debt		 4,263 2,481 1,869 3,209 2,758 2,691 2,619 4,473 3,815 - 4,014
Net Debt		 3,550 1,558 1,784 3,110 2,708 1,672 1,698 3,288 2,922 - 3,024
Capital Expenditures (CapEx)		 14 0.00 8.50 12 12 0.00 0.00 0.00 0.00 - 8.70
Net Nonoperating Expense (NNE)		 0.00 -5.80 0.00 0.00 0.00 -8.24 -0.00 0.00 0.00 - 0.00
Net Nonoperating Obligations (NNO)		 4,263 2,481 2,635 4,069 3,675 2,886 2,930 4,549 4,214 - 4,410
Total Depreciation and Amortization (D&A)		 33 34 34 33 33 37 31 35 36 - 35
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.53 ($0.62) $0.52 $0.75 $0.56 ($1.10) $0.60 $0.65 $0.73 $0.81 $0.70
Adjusted Weighted Average Basic Shares Outstanding		 150.04M 149.97M 149.86M 149.87M 150.25M 151.93M 165.23M 164.94M 165.03M 165.08M 165.10M
Adjusted Diluted Earnings per Share		 $0.53 ($0.62) $0.52 $0.74 $0.56 ($1.10) $0.59 $0.65 $0.73 $0.80 $0.70
Adjusted Weighted Average Diluted Shares Outstanding		 151.01M 150.86M 151.29M 151.29M 151.49M 153.35M 166.60M 166.34M 166.70M 166.61M 166.56M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 301.88M 302.18M 301.53M 301.80M 151.26M 166.25M 165.81M 165.85M 165.92M 165.98M 165.94M
Normalized Net Operating Profit after Tax (NOPAT)		 83 -97 81 72 88 -124 102 111 125 - 120
Normalized NOPAT Margin		 25.95% -78.93% 25.14% 22.38% 26.69% -195.90% 29.50% 30.31% 32.27% - 31.23%
Pre Tax Income Margin		 32.00% -112.76% 31.34% 31.98% 32.80% -279.85% 35.13% 38.05% 39.92% - 39.91%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.40 -0.51 0.38 0.38 0.39 -0.69 0.50 0.57 0.61 - 0.69
NOPAT to Interest Expense		 0.33 -0.36 0.31 0.42 0.32 -0.48 0.42 0.45 0.50 - 0.54
EBIT Less CapEx to Interest Expense		 0.35 -0.51 0.35 0.33 0.35 -0.69 0.50 0.57 0.61 - 0.65
NOPAT Less CapEx to Interest Expense		 0.27 -0.36 0.27 0.38 0.27 -0.48 0.42 0.45 0.50 - 0.50
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 36.44% 77.09% 88.67% 76.15% 75.10% 89.40% 82.35% 86.98% 74.79% - 34.26%
Augmented Payout Ratio		 38.44% 80.69% 103.65% 88.99% 87.67% 103.94% 98.09% 102.56% 87.78% - 40.85%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends from Associated Banc-Corp (ASB) quarterly statements covering the recent four-year window, focusing on the data you provided for 2025, 2024, 2023 and earlier comparable periods. The bullets highlight the most relevant shifts in income, cash flow and balance-sheet metrics for retail investors.

  • Net Interest Income (NII) has trended up through 2025, reaching 309.98 million in Q4 2025, up from 285.94 million in Q1 2025 and 305.22 million in Q3 2025, as core lending activity remains productive and funding costs are managed. (Total Interest Income in Q4 2025 was 544.75 million, a slight quarterly dip from Q3 2025.)
  • Total Revenue in Q4 2025 rose to 389.36 million, up from 386.49 million in Q3 2025 and higher than prior year levels in the year, supported by stronger net interest income and non-interest income components.
  • Net Income attributable to common shareholders improved in Q4 2025 to 134.253 million, up meaningfully versus the prior-year period, signaling improving profitability at the bottom line.
  • Earnings per share improved in Q4 2025: Basic EPS 0.81 and Diluted EPS 0.80, compared with roughly 0.56 for both metrics in Q4 2024, indicating stronger profitability per share.
  • Loans and Leases, net of allowance rose to about 30.57 billion by Q4 2025, up from the mid-to-high 20s/30s in prior years, reflecting ongoing loan portfolio growth and prudent credit provisioning.
  • The deposit base remains robust and liquid, with non-interest bearing deposits around 5.9 billion and interest-bearing deposits around 29.0–29.8 billion across 2025 quarters, keeping total deposits in the low-to-mid 30s billions range.
  • Cash dividends per share remained at a steady level (0.23 per share) in 2025 quarters, supporting a continued shareholder-yield narrative alongside earnings growth.
  • Cash flow mix shows volatility: Net cash from continuing operating activities in Q4 2025 was negative (-349.9 million), while overall net cash from operating activities was positive (about 218.1 million) due to financing and investing activity contributions. This highlights quarterly liquidity seasonality rather than a persistent cash burn.
  • Provision for credit losses fluctuated quarter to quarter (6.997 million in Q4 2025 after 16.0 million in Q3 2025), indicating ongoing credit-risk management but some quarterly variability in reserves.
  • Net change in cash and equivalents for Q4 2025 was a sizable negative 964.57 million, signaling a quarterly cash outflow despite other positive cash flows. In addition, net cash used in continuing investing activities was about -374.93 million in Q4 2025, contributing to the quarterly cash decline.
05/22/26 04:23 AM ETAI Generated. May Contain Errors.

Associated Banc Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Associated Banc's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Associated Banc's net income appears to be on an upward trend, with a most recent value of $474.78 million in 2025, rising from $188.30 million in 2015. The previous period was $154.33 million in 2024. See where experts think Associated Banc is headed by visiting Associated Banc's forecast page.

Over the last 10 years, Associated Banc's total revenue changed from $1.01 billion in 2015 to $1.49 billion in 2025, a change of 47.9%.

Associated Banc's total liabilities were at $40.23 billion at the end of 2025, a 4.7% increase from 2024, and a 62.4% increase since 2015.

In the past 10 years, Associated Banc's cash and equivalents has ranged from $343.83 million in 2021 to $574.70 million in 2025, and is currently $574.70 million as of their latest financial filing in 2025.


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Financial statements for NYSE:ASB last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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