Associated Banc-Corp (ASB) investor relations material

Executive summary

• Q3 net income was $146.6M and diluted EPS was $0.76; adjusted EPS was $0.81, excluding nonrecurring acquisition costs.

• Higher net interest income, fee income, core deposit growth and margin expansion lifted profitability; American National conversion was completed.

• Loans, deposits and core customer deposits grew YoY; FY26 growth guidance was largely maintained.

Financial highlights

• Net interest income was $377.3M, up 2% QoQ and 24% YoY; NIM was 3.20%, up 3 bps QoQ and 16 bps YoY.

• Noninterest income was $87.1M, up 8% QoQ and 7% YoY; noninterest expense was $260.3M, down $12M QoQ and up $44M YoY.

• Net income available to common equity was $143.7M; adjusted net income was $153.9M, excluding $10.2M of after-tax acquisition costs.

• Period-end loans were $36.5B, up 0.1% QoQ and 18.0% YoY; deposits were $40.4B, up 1.1% QoQ and 15.8% YoY.

• Core customer deposits were $34.8B, up 2.0% QoQ and 20.5% YoY; provision for credit losses was $14.0M.

Outlook and guidance

• FY26 period-end loan growth is expected at 18%–20%, including C&I growth of 20%–22%; total deposit growth is expected at 17%–19% and core customer deposit growth at 19%–21%.

• FY26 net interest income growth is expected at 19%–21%, noninterest income growth at 12%–14%, and noninterest expense growth at 19%–20%, versus standalone FY2025.

• FY26 effective tax rate outlook is 20%–22%; total acquisition-related expenses are expected to be $48.5M, with remaining costs by year-end.

• Organic NIM expansion of 1–2 bps per quarter is expected despite purchase-accounting accretion runoff; Q4 C&I growth is also expected.

• 2027–2029 priorities include household and deposit growth, commercial relationships, metro-market expansion, margin and fee growth, and disciplined risk and expense management.