Associated Banc-corp · NYSE:ASB
Associated Banc-corp — Q2 2026 Earnings Presentation
36 slides from Associated Banc-corp's earnings presentation, Jul 23, 2026
Slide 1: Associated Banc-Corp 2026 Fixed Income Investor Presentation
Associated Banc-Corp 2026 Fixed Income Investor Presentation May 5, 2026
Slide 2: Important Disclosures
Important Disclosures 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 f
Slide 3: ASB Presenters
ASB Presenters Derek Meyer – EVP, Chief Financial Officer ▪ Derek S. Meyer joined Associated Bank in August 2022 and is the executive vice president and chief financial officer. He is responsible for the company’s financial management. He also serves on the executive leadership team for Associated.
Slide 4: Associated Banc-Corp (NYSE: ASB)
Associated Banc-Corp (NYSE: ASB)1 With origins dating back to 1861, ASB is the largest bank holding company based in Wisconsin2 $46B $32B Consumer Assets Loans 35% Commercial Average & Business Lending Loans 42% Branch Footprint States3 Loan Production Commercial $5B $36B Offices Real Estate 23% Equ
Slide 5: Disciplined Approach to Risk Management
Disciplined Approach to Risk Management
Slide 6: Quarterly Loan Trends
Quarterly Loan Trends Strong period end C&I loan growth of 5% helped drive total loan growth of 2% in 1Q Average Quarterly Loans ($ in billions) Period End Loan Change 12/31/25 to 3/31/26 ($ in millions) $30.5 $30.8 $31.0 $31.3 $30.1 Commercial & Industrial $540 $11.7 $12.1 $12.5 $12.7 $13.0 CRE-Con
Slide 7: Allowance for Credit Losses on Loans (ACLL)
Allowance for Credit Losses on Loans (ACLL)1 Our ACLL increased to $425 million in support of balance sheet growth, while ACLL / total loans decreased 1 bp to 1.34% ACLL Trends ($ in millions) ACLL / Total Loans $419 $425 $407 $412 $415 1.34% 1.35% 1.34% 1.35% 1.34% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1
Slide 8: Credit Quality Trends
Credit Quality Trends 1Q credit quality remained solid with decreasing criticized loans and NCOs / avg. loans (annualized) of 0.07% Total Delinquent Loans ($ in millions) Nonaccrual Loans ($ in millions) $135 $14 $113 $106 $111 $88 $7 $100 $32 $16 $13 $7 $7 $20 $52 $52 $61 $8 $8 $47 $85 $89 $90 $86
Slide 9: High-Quality Commercial Real Estate Portfolio
High-Quality Commercial Real Estate Portfolio1 CRE Credit Quality 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 Portfolio LTV 57% 57% 58% 57% 57% Consumer Delinquencies3/Loans 0.03% 0.17% 0.19% 0.27% 0.45% 34% Total Com'l & Business NALs/Loans 0.43% 0.22% 0.10% 0.12% 0.11% Loans by Lending ACLL/Loans 1.88% 1.77% 1.
Slide 10: High-Quality Consumer Loan Portfolio
High-Quality Consumer Loan Portfolio1 Period End Consumer Loans ($ in millions) Prime/Super Prime Consumer Loan Portfolio % of Total 7% 3/31/2026 6% Loans Super Prime (720+) Portfolio Prime (660-719) Residential Mortgage $6,728 21.2% FICOs Exceptions & Other 87% Auto Finance $3,136 9.9% Home Equity
Slide 11: Stable, Granular Deposit Portfolio
Stable, Granular Deposit Portfolio Associated Bank, N.A. Period End Deposits ($ in billions) Liquidity Sources ($ in millions) $35.2 $34.9 $35.6 $35.8 12/31/2025 3/31/2026 $34.2 Federal Reserve Balance $1,139.4 $915.7 FHLB Chicago Capacity $6,221.5 $5,574.2 Fed Discount Window Capacity $6,443.8 $6,5
Slide 12: Interest Rate Risk Management
Interest Rate Risk Management1 We’ve taken proactive steps to reduce our asset sensitivity & protect NII in a falling rate environment Contractual Funding Obligations ($ in billions) Estimated NII Sensitivity Profile (%) (12-Month Ramp, Dynamic Forecast) ≤ 1 Yr. 1-3 Yrs. 3+ Yrs. Total Time Deposits
Slide 13: Cash & Investment Securities Portfolio
Cash & Investment Securities Portfolio We’ve continued to manage our cash & investment securities levels in proportion to broader balance sheet growth Period End Investment Securities ($ in billions) Period End Securities + Cash / Total Assets $9.3 $9.4 $9.0 $9.1 $8.7 $0.3 $0.3 We continue to target
Slide 14: Capital Profile
Capital Profile We continue to target a CET1 range of 10% to 10.75% in 2026 Regulatory Capital Ratios (%) Additional Capital Ratios (%) 10.37 10.43 10.51 10.58 10.54 12.75 13.02 8.29 8.27 7.96 8.06 8.18 11.01 10.47 10.68 10.11 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Total Common Equity / Tangible Co
Slide 15: Advancing our Growth Strategy
Advancing our Growth Strategy
Slide 16: Continued & Sustainable Organic Growth Strategy
Continued & Sustainable Organic Growth Strategy Growing Customer Investing in Top Talent Accelerating Growth in Households With a Best-in- to Drive Sustained Major Metropolitan Markets Class Value Proposition Commercial Growth in 2026 ▪ Improved product set ▪ Increased relationship managers (RMs) by
Slide 17: Record Earnings in 2025
Record Earnings in 2025 ASB posted record annual net income available to common equity of $463 million in 2025 FY 2025 Highlights1,2 4.7% 11.6% 2.6% 3.5% Total Loan Growth Total C&I Loan Growth Total Deposit Growth Core Customer Deposit Growth3 14.7% +25 bps $296M (N/M) $24M (+9.0%) Net Interest Inc
Slide 18: Strengthened Franchise with Growth Momentum
Strengthened Franchise with Growth Momentum Bolstered Expanded Enhanced Consumer Repositioned Maintained Strong Risk Key Leadership Commercial Presence Value Proposition Balance Sheet Management Culture Period End C&I Loans ($ in billions) Net Interest Margin (%) Efficiency Ratio (%) $11.8 3.03 59.6
Slide 19: Sustainable Customer Growth
Sustainable Customer Growth We’re attracting & deepening relationships with a best-in-class value proposition that continues to improve Customer Checking Household Growth Trend1 Modern digital banking experience with improved UX, enhanced security & financial wellness tools Launched successful Mass
Slide 20: Sustainable Commercial Growth
Sustainable Commercial Growth A multi-year expansion of our commercial team has positioned us to grow & take market share in key metros Added top talent in key leadership roles Period End Commercial Growth Trends ▪ Phillip Trier, EVP, Head of Corporate & Commercial Banking ($ in billions) ▪ Neil Rie
Slide 21: Accelerating Growth in Major Metro Markets
Accelerating Growth in Major Metro Markets Legacy Metro Market Growth 12/31/23 – 12/31/251 Growth Market Opportunities in 2026 Milwaukee Chicago Twin Cities Omaha Expanding in 2026 New in 2026 Total Deposits2 +12% +13% Commercial & Industrial Loans2 +13% +33% Kansas City Dallas Consumer + Business C
Slide 22: Expected 2026 Metro Market Investments & Outcomes
Expected 2026 Metro Market Investments & Outcomes1 Organic Metro Market Consumer & Business …Driving Improved Organic Total Bank CKG CKG HH Growth Expected to Accelerate… HH Growth2 >100% 2025 2026E 2027E 1.4% 2.0% 2.5% Marketing Acquisition Spend Twin Cities +1% +3% +3% 1.0% Increase in Twin Cities
Slide 23: Accelerating our Growth Trend
Accelerating our Growth Trend 1Q 2026 results reflect growth trend, with several YTD investments expected to drive additional momentum in 2026-27 Accelerating Growth +2.2% +4.6% 4/1/2026 Annualized Customer Period End Completed Acquisition CKG HH Growth C&I Loan Growth of American National 1Q26 vs.
Slide 24: American National Corporation (ANC) Integration on Track
American National Corporation (ANC) Integration on Track Partnership expected to complement & accelerate our organic growth strategy Expanded Presence in Financially Attractive Strong Cultural Strategic Growth Markets Partnership Alignment 12/1/2025 4/1/2026 Early April 2026 October 2026 Announced a
Slide 25: Dynamic Franchise
Dynamic Franchise1 American National Acquisition Strengthens Midwest Footprint… Green Bay Minneapolis / St. Paul #1 ▪ Top 10 deposit market share ranking in Green Bay, Madison, Omaha, Milwaukee, & #10 WI Minneapolis / St. Paul MSAs1 MN ▪ Partnership enhances Midwest scale, with 76% of deposits in th
Slide 26: Associated's Disciplined Approach to M&A
Associated’s Disciplined Approach to M&A ASB’s approach to M&A is aligned with a disciplined growth strategy & prudent risk appetite Rigorous Due Diligence & Integration Planning Process Due Diligence Focus Areas ✓ Comprehensive due diligence across all 12 functional areas conducted by Associated te
Slide 27: 165-Year Foundation in Wisconsin…Accelerating Growth in Major Metro Markets
165-Year Foundation in Wisconsin…Accelerating Household, Deposit and C&I Growth in Major Metro Markets Driving Growth in Legacy Metros ASB Branch Footprint States1 Strategic Major Metro Twin Cities Growth Markets Milwaukee Chicago Omaha Milwaukee Chicago St. Louis Twin Cities First MO branch in Expa
Slide 28: Improving Return Profile Through Balance Sheet Remix
Improving Return Profile Through Balance Sheet Remix1 Our efforts to remix the balance sheet with relationship-focused growth are delivering stronger profitability Assets Liabilities Growing higher-yielding, relationship asset classes to Attracting & deepening customer relationships to decrease reli
Slide 29: FY 2026 Outlook
FY 2026 Outlook1 + ASB + American National Combined Total Loans Up 17% to 19% Total C&I Loans Up 20% to 22% Total Deposits Up 17% to 19% Core Customer Deposits2 Up 19% to 21% Net Interest Income Updating with 2Q 2026 Earnings Noninterest Income Up 8% to 10% Noninterest Expense Updating with 2Q 2026
Slide 30: Appendix
Appendix Monroe Office – Chicago, IL
Slide 31: Quarterly Deposit & Funding Trends
Quarterly Deposit & Funding Trends Seasonal inflows during 1Q helped drive strong period end deposit trends and a 4% decrease in wholesale funding Average Quarterly Deposits ($ in billions) Period End Funding Change 12/31/25 to 3/31/26 ($ in millions) $34.8 $34.7 $35.6 $35.2 $34.2 Total Deposits +$1
Slide 32: Net Interest Income & Net Interest Margin Trends
Net Interest Income & Net Interest Margin Trends 1Q net interest income increased $21 million from the same period a year ago, while NIM increased by 6 bps over the same period ($ in millions) $310 $307 $305 $300 $286 3.04% 3.04% 3.06% 3.03% 2.97% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Quarterly Ne
Slide 33: Quarterly Noninterest Income Trends
Quarterly Noninterest Income Trends 1Q26 noninterest income was materially higher vs. 1Q25, with strong growth in wealth, capital markets & other fee categories Total Quarterly Noninterest Income ($ in millions) Wealth Management Fees ($ in millions) $81 $79 $93 $97 $76 $84 $83 $67 $15 $12 $12 $59 $
Slide 34: Quarterly Noninterest Expense Trends
Quarterly Noninterest Expense Trends Total noninterest expense decreased slightly from the prior quarter & increased 4% vs. the same period a year ago Total Quarterly Noninterest Expense ($ in millions) Efficiency Ratio (%) $216 $219 $219 $211 $209 $29 $34 $31 $34 $33 $10 $7 $9 $10 $10 $13 $14 $14 5
Slide 35: Reconciliation & Definitions of Non-GAAP Items
Reconciliation & Definitions of Non-GAAP Items Period End Core Customer Deposits Reconciliation ($ in thousands) 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 4Q 2024 Total deposits $35,731,765 $35,552,608 $34,881,853 $34,147,565 $35,196,713 $34,648,434 Less: Network transaction deposits 1,746,518 2,154,9
Slide 36: Reconciliation & Definitions of Non-GAAP Items
Reconciliation & Definitions of Non-GAAP Items Non-GAAP Efficiency Ratios Reconciliation ($ in thousands) YTD Dec 2025 YTD Dec 20201 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Total expense for efficiency ratios reconciliation Noninterest expense $855,639 $776,034 $219,163 $219,466 $216,202 $209,352 $2