Associated Banc-corp · NYSE:ASB
Associated Banc-corp — Q1 2026 Earnings Presentation
30 slides from Associated Banc-corp's earnings presentation, Apr 23, 2026
Slide 1: Associated Banc-Corp First Quarter 2026 Earnings Presentation
Associated Banc-Corp First Quarter 2026 Earnings Presentation April 23, 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: First Quarter 2026 Results
First Quarter 2026 Results ▪ Total period end loans of $31.8 billion $0.70 Diluted EPS ▪ +2.0% vs. 4Q25; +5.0% vs. 1Q25 ▪ Period end C&I loans of $12.3 billion ▪ +4.6% vs. 4Q25; +12.9% vs. 1Q25 10.47% 13.02% ▪ Total period end deposits of $35.7 billion CET1 Ratio Total Capital Ratio ▪ +0.5% vs. 4Q25
Slide 5: Accelerating our Growth Trend
Accelerating our Growth Trend 1Q 2026 results reflect growth trend, with several YTD investments expected to drive additional momentum in 2026-27 Accelerating Growth +2.2% +4.6% 4/1/2026 Annualized Customer Period End Completed Acquisition CKG HH Growth C&I Loan Growth of American National 1Q26 vs.
Slide 6: American National Corporation (ANC) Integration on Track
American National Corporation (ANC) Integration on Track Partnership expected to complement & accelerate our organic growth strategy Expanded Presence in Financially Attractive Strong Cultural Strategic Growth Markets Partnership Alignment 12/1/2025 4/1/2026 Early April 2026 Late 3Q 2026 Announced a
Slide 7: 165-Year Foundation in Wisconsin…Accelerating Household, Deposit and C&I Growth in Major Metro Markets
165-Year Foundation in Wisconsin…Accelerating Household, Deposit and C&I Growth in Major Metro Markets Driving Growth in Legacy Metros ASB Branch Footprint States1 Strategic Major Metro Twin Cities Growth Markets Milwaukee Chicago Omaha Milwaukee Chicago St. Louis Twin Cities First MO branch in Expa
Slide 8: Quarterly Loan Trends
Quarterly Loan Trends Strong period end C&I loan growth of 5% helped drive total loan growth of 2% in 1Q Average Quarterly Loans ($ 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 $13.0 CRE-Con
Slide 9: Quarterly Deposit & Funding Trends
Quarterly Deposit & Funding Trends Seasonal inflows during 1Q helped drive strong period end deposit trends and a 4% decrease in wholesale funding Average Quarterly Deposits ($ 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 10: Average Yield Trends
Average Yield Trends The yield on total earning assets decreased by 14 bps in 1Q, while interest-bearing liability costs decreased by 15 bps Quarterly Average Yields (%) Asset & Liability Yield / Rate Trends (%) 6.71 6.75 6.74 6.50 6.21 6.43 6.50 6.45 6.18 5.89 5.45 5.50 5.50 5.34 5.63 5.20 5.59 5.5
Slide 11: 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 $286 3.04% 3.04% 3.06% 3.03% 2.97% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Quarterly Ne
Slide 12: Interest Rate Risk Management
Interest Rate Risk Management1 We’ve taken proactive steps to reduce our asset sensitivity & protect NII in a falling rate environment Contractual Funding Obligations ($ 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 $0.3 We continue to target
Slide 14: Quarterly Noninterest Income Trends
Quarterly Noninterest Income Trends 1Q26 noninterest income was materially higher vs. 1Q25, with strong growth in wealth, capital markets & other fee categories Total Quarterly Noninterest Income ($ in millions) Wealth Management Fees ($ in millions) $81 $79 $93 $97 $76 $84 $83 $67 $15 $12 $12 $59 $
Slide 15: 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 16: 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 17: 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 $415 1.34% 1.35% 1.34% 1.35% 1.34% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1
Slide 18: Credit Quality Trends
Credit Quality Trends 1Q credit quality remained solid with decreasing criticized loans and NCOs / avg. loans (annualized) of 0.07% Total Delinquent Loans ($ 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 $86
Slide 19: FY 2026 Outlook
FY 2026 Outlook1 + ASB + American National Combined Total Loans Up 17% to 19% Total C&I Loans Up 20% to 22% Total Deposits Up 17% to 19% Core Customer Deposits2 Up 19% to 21% Net Interest Income Updating with 2Q 2026 Earnings Noninterest Income Up 8% to 10% Noninterest Expense Updating with 2Q 2026
Slide 20: Appendix
Appendix IDS Center – Minneapolis, MN
Slide 21: Additional Quarterly Loan Trends
Additional Quarterly Loan Trends Period End Quarterly Loans ($ in billions) Average Loan Change 4Q 2025 to 1Q 2026 ($ in millions) $31.2 $31.8 $30.3 $30.6 $31.0 Commercial & Industrial $189 $13.5 CRE-Construction $81 $12.0 $12.4 $12.7 $13.0 Auto Finance $61 $7.4 $7.3 $7.3 $7.2 $7.4 CRE-Owner Occupie
Slide 22: Total Loans Outstanding Balances as of March 31, 2026
Total Loans Outstanding Balances as of March 31, 2026 ($ in millions) % of Total % of Total 1 1 3/31/2026 Loans 3/31/2026 Loans 2 C&BL (by NAICS ) CRE (by property type) Utilities $ 3,183 10.0% Multi-Family $ 3,233 10.2% Manufacturing & Wholesale Trade 2,946 9.3% Industrial 1,785 5.6% Real Estate (i
Slide 23: Loan Stratification Outstanding Balances as of March 31, 2026
Loan Stratification Outstanding Balances as of March 31, 2026 Illinois Illinois Illinois Wisconsin 13% Wisconsin 14% Wisconsin 17% 20% 20% 25% Minnesota Minnesota 7% 8% Minnesota C&BL Texas 8% Total Loans CRE by State by State 6% by State1 $7.4 billion $13.5 billion Other Other Other Midwest2 Midwes
Slide 24: High-Quality Commercial Real Estate Portfolio
High-Quality Commercial Real Estate Portfolio1 CRE Credit Quality 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 Portfolio LTV 57% 57% 58% 57% 57% Consumer Delinquencies3/Loans 0.03% 0.17% 0.19% 0.27% 0.45% 34% Total Com'l & Business NALs/Loans 0.43% 0.22% 0.10% 0.12% 0.11% Loans by Lending ACLL/Loans 1.88% 1.77% 1.
Slide 25: High-Quality Consumer Loan Portfolio
High-Quality Consumer Loan Portfolio1 Period End Consumer Loans ($ 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 $3,136 9.9% Home Equity
Slide 26: Stable, Granular Deposit Portfolio
Stable, Granular Deposit Portfolio Associated Bank, N.A. Period End Deposits ($ 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 $6,5
Slide 27: Additional Quarterly Deposit & Funding Trends
Additional Quarterly Deposit & Funding Trends Period End Quarterly Deposits ($ in billions) Quarterly Average Funding Change (4Q25 to 1Q26) ($ in millions) $35.2 $34.9 $35.6 $35.7 Total Deposits $(468) (-1%) $34.1 $6.1 $5.9 $6.1 $6.1 Core Customer Deposits1 +$174 (+1%) $5.8 Money Market $171 $7.9 $7
Slide 28: Reconciliation & Definitions of Non-GAAP Items
Reconciliation & Definitions of Non-GAAP Items Period End Core Customer Deposits Reconciliation ($ in thousands) 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Total deposits $35,731,765 $35,552,608 $34,881,853 $34,147,565 $35,196,713 Less: Network transaction deposits 1,746,518 2,154,995 2,013,964 1,792,3
Slide 29: Reconciliation & Definitions of Non-GAAP Items
Reconciliation & Definitions of Non-GAAP Items Non-GAAP Efficiency Ratios Reconciliation ($ in thousands) 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Total expense for efficiency ratios reconciliation Noninterest expense $219,163 $219,466 $216,202 $209,352 $210,619 Less: Other intangible amortization 2,
Slide 30: Thank You
Thank You Monroe Office – Chicago, IL