Associated Banc-corp · NYSE:ASB
Associated Banc-corp — Q3 2026 Earnings Presentation
28 slides from Associated Banc-corp's earnings presentation, Oct 22, 2026
Slide 1: Associated Banc-Corp Third Quarter 2026 Earnings Presentation
Associated Banc-Corp Third Quarter 2026 Earnings Presentation October 22, 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: Financial Results
Financial Results Associated Bank River Center – Milwaukee, WI
Slide 4: Third Quarter 2026 Results
Third Quarter 2026 Results $0.76 $0.81 ▪ Period end total loans of $36.5 billion Diluted GAAP EPS Diluted Adj. EPS1 ▪ +0.1% vs. 2Q26; +18.0% vs. 3Q25 ▪ Period end C&I loans of $13.8 billion ▪ +0.4% vs. 2Q26; +19.3% vs. 3Q25 10.38% 12.68% ▪ Period end total deposits of $40.4 billion CET1 Ratio Total
Slide 5: Continuing our Organic Growth Story
Continuing our Organic Growth Story 2026 results through 3Q reflect continued growth momentum; add’l initiatives being planned to sustain momentum through 2029 Legacy ASB Franchise Driving American National Developing Strategic Growth Sustainable Organic Growth Acquisition Completed Plans for 2027-2
Slide 6: Quarterly Loan Trends
Quarterly Loan Trends Average quarterly loans grew by 1% vs. the prior quarter Average Quarterly Loans ($ in billions) Period End Balance Change 6/30/26 to 9/30/26 ($ in millions) $35.9 $36.2 CRE-Construction $55 $30.8 $31.0 $31.3 $14.8 $15.0 Commercial & Industrial $54 $12.5 $12.7 $13.0 CRE-Owner O
Slide 7: Quarterly Deposit & Funding Trends
Quarterly Deposit & Funding Trends Period end total deposits grew by 1% & core customer deposits1 grew by 2% in 3Q, enabling a reduction in wholesale funding Average Quarterly Deposits ($ in billions) Period End Balance Change 6/30/26 to 9/30/26 ($ in millions) Total Deposits +$450 (+1%) $40.4 $41.0
Slide 8: Average Yield Trends
Average Yield Trends Earning asset yields increased by 2 bps in 3Q, while total interest-bearing liability costs increased by 1 bp Quarterly Average Yields (%) Asset & Liability Yield / Rate Trends (%) 6.74 6.50 6.21 6.28 6.23 6.45 5.96 6.18 5.97 5.89 5.83 5.82 5.50 5.58 5.56 5.34 5.20 5.32 5.34 5.4
Slide 9: Net Interest Income & Net Interest Margin Trends
Net Interest Income & Net Interest Margin Trends Net interest income increased $7 million vs. the prior quarter, while net interest margin improved by 3 bps to 3.20% ($ in millions) $370 $377 $305 $310 $307 3.20% 3.17% +0.02% of 3.04% 3.06% Accretion Impact 3.03% +0.03% of Embedded Accretion Impact
Slide 10: Interest Rate Risk Management
Interest Rate Risk Management1 We’ve taken proactive steps to reduce our asset sensitivity & protect NII in a volatile rate environment Contractual Funding Obligations ($ in billions) Estimated NII Sensitivity Profile (%) (12-Month Ramp, Dynamic Forecast) ≤ 1 Yr. 1-3 Yrs. 3+ Yrs. Total Time Deposits
Slide 11: Cash & Investment Securities Portfolio
Cash & Investment Securities Portfolio We’ve continued to manage our cash & investment securities positions in proportion to broader balance sheet growth Period End Investment Securities ($ in billions) Period End Securities + Cash / Total Assets $10.2 $10.0 We continue to target $9.4 $0.4 securitie
Slide 12: Quarterly Noninterest Income Trends
Quarterly Noninterest Income Trends 3Q 2026 noninterest income of $87 million was up 8% vs. the prior quarter Total Quarterly Noninterest Income ($ in millions) Wealth Management Fees ($ in millions) $87 $78 $81 $68 $71 $79 $80 $64 $61 $76 $17 $15 $12 $14 $12 $2 $4 $3 $3 $11 $6 $7 $11 $11 $7 YTD Sep
Slide 13: Quarterly Noninterest Expense Trends
Quarterly Noninterest Expense Trends 3Q 2026 noninterest expense includes $13 million of nonrecurring costs tied to the acquisition of American National Corporation Total Quarterly Noninterest Expense ($ in millions) Nonrecurring Acquisition-Related Expenses ($ in millions) 3Q 2026 YTD Sep 2026 ~$48
Slide 14: Capital Profile
Capital Profile We repurchased $100M (3.2M shares) of ASB common stock at a weighted average share price of $30.88 during 3Q 2026 Regulatory Capital Ratios (%) Additional Capital Ratios (%) 10.95 11.01 10.96 10.88 10.65 2 8.18 8.29 8.27 8.27 8.03 12.94 12.68 10.89 10.84 10.33 10.38 3Q 2025 4Q 2025 1
Slide 15: Allowance for Credit Losses on Loans (ACLL)
Allowance for Credit Losses on Loans (ACLL)1 ACLL decreased to $491 million in 3Q 2026, while ACLL / total loans decreased 2 bps to 1.34% ACLL Trends ($ in millions) ACLL / Total Loans $494 $491 1.34% 1.35% 1.34% 1.36% 1.34% $415 $419 $425 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 3Q 2025 4Q 2025 1Q 2
Slide 16: Credit Quality Trends
Credit Quality Trends Credit quality remained solid in 3Q 2026 with decreases in total criticized loans & net charge offs vs. the prior quarter Total Delinquent Loans ($ in millions) Nonaccrual Loans ($ in millions) $183 $150 $88 $89 $106 $111 $66 $100 $48 $52 $61 $60 $13 $7 $20 $8 $14 $19 $85 $80 $
Slide 17: FY 2026 Outlook
FY 2026 Outlook1 Previous FY 2026 Outlook Updated FY 2026 September 14, 2026 Outlook Total Loans Up 18% to 20% No Change 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 Up 19% to 21% No Change Noninter
Slide 18: Appendix
Appendix Minneapolis, MN oN Associated Bank
Slide 19: American National Corporation Acquisition Purchase Accounting Accretion (PAA) Summary
American National Corporation Acquisition Purchase Accounting Accretion (PAA) Summary ($ in millions) Actual Scheduled1 3Q 2026 4Q 2026 1Q 2027 2Q 2027 3Q 2027 Loans (Interest Income) $2.3 $1.5 $1.0 $0.8 $0.6 Deposits (Interest Expense) (0.1) (0.1) (0.1) (0.1) (0.1) Core Deposit Intangible (Noninter
Slide 20: 165-Year Foundation in Wisconsin…Accelerating Growth in Major Metro Markets
165-Year Foundation in Wisconsin…Accelerating Household, Deposit and C&I Growth in Major Metro Markets Driving Growth in Legacy Metros ASB Branch Footprint States Strategic Major Metro Twin Cities Growth Markets Milwaukee Chicago Omaha Milwaukee Chicago St. Louis Twin Cities First MO branch in Expan
Slide 21: Total Loans Outstanding Balances as of September 30, 2026
Total Loans Outstanding Balances as of September 30, 2026 ($ in millions) % of Total % of Total 1 1 9/30/2026 Loans 9/30/2026 Loans 2 C&BL (by NAICS ) CRE (by property type) Utilities $ 3,359 9.2% Multi-Family $ 4,009 11.0% Manufacturing & Wholesale Trade 3,265 8.9% Industrial 1,928 5.3% Real Estate
Slide 22: Loan Stratification Outstanding Balances as of September 30, 2026
Loan Stratification Outstanding Balances as of September 30, 2026 Other Wisconsin Wisconsin Wisconsin 21% 19% 19% Other 23% 29% Other 40% C&BL Total Loans CRE by State Illinois by State Illinois Texas 12% by State1 10% $9.1 billion $15.4 billion 13% Illinois Texas 5% 15% Minnesota Minnesota 8% Other
Slide 23: High-Quality Commercial Real Estate Portfolio
High-Quality Commercial Real Estate Portfolio1 CRE Credit Quality 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 CRE 25% Portfolio LTV 58% 57% 57% 53% 57% Consumer 33% Delinquencies3/Loans 0.19% 0.27% 0.45% 0.05% 0.09% Total NALs/Loans 0.10% 0.12% 0.11% 0.16% 0.21% Loans by ACLL/Loans 1.74% 1.70% 1.68% 1.67% 1.59% S
Slide 24: High-Quality Consumer Loan Portfolio
High-Quality Consumer Loan Portfolio1 Period End Consumer Loans ($ in millions) Prime/Super Prime Consumer Loan Portfolio 8% % of Total 9/30/2026 7% Loans Super Prime (720+) Portfolio Prime (660-719) Residential Mortgage $6,740 18.5% FICOs Exceptions & Other Auto Finance 4,093 11.2% 86% Home Equity
Slide 25: Stable, Granular Deposit Portfolio
Stable, Granular Deposit Portfolio Associated Bank, N.A. Period End Deposits ($ in billions) Liquidity Sources ($ in millions) $40.1 $40.4 6/30/2026 9/30/2026 $34.9 $35.6 $35.8 Federal Reserve Balance $1,265.7 $980.2 FHLB Chicago Capacity $5,330.8 $5,723.1 Fed Discount Window Capacity $6,387.4 $6,45
Slide 26: Reconciliation & Definitions of Non-GAAP Items
Reconciliation & Definitions of Non-GAAP Items Adjusted Net Income Available to Common Equity Reconciliation ($ in thousands) 3Q 2026 Net income available to common equity $143,711 Acquisition costs, net of tax1 10,227 Adjusted net income available to common equity for adjusted earnings per share $1
Slide 27: Reconciliation & Definitions of Non-GAAP Items
Reconciliation & Definitions of Non-GAAP Items Return on Average Tangible Common Equity (ROATCE) Reconciliation ($ in thousands) 3Q 2026 Net income available to common equity $143,711 Other intangible amortization, net of tax 5,170 Adjusted net income available to common equity for ROATCE $148,881 A
Slide 28: Thank You
Thank You De Pere, WI