Associated Banc-Corp (ASB) Barclays 24th Annual Global Financial Services Conference summary

Growth and integration

• Consumer household growth shifted from -2% to +2%; commercial loans grew roughly $6B on a $7B+ portfolio over five years, including $1.2B C&I growth in H1 2026 and $1.2B in 2025.

• H1 2026 organic growth spanned customers, deposits and C&I; the American National integration is progressing, with cost savings ahead of schedule and final systems conversion expected within three weeks.

• A new strategic plan is planned for early 2027, targeting continued margin and ROTCE expansion and further household growth.

• Integration surveys found aligned cultures; American National colleagues filled key roles, particularly in risk, while growth in funding and loans continued during integration.

• Post-conversion, Omaha consumer marketing and products will launch, alongside a private wealth offering; Omaha has 20 branches and ranks second in local deposit market share.

Commercial growth and fee opportunities

• Commercial momentum reflects relationship-manager hiring, metropolitan expansion and specialty verticals; teams in Kansas City and Dallas are booking deals, with asset-based lending and equipment finance also contributing.

• Treasury management sales are up significant double digits and support customer primacy and low-cost deposits; a three-year opportunity builds on 50 added relationship managers and expands funding potential over 12–36 months.

• Commercial pipelines rose more than 30% August to August, while deal pull-through slowed amid broader uncertainty; business confidence remains solid but cautious.

• Fee income is already benefiting from customer growth in service charges and card income; treasury management is viewed as a key three-year opportunity, with most of its roadmap likely to be funded.

• HOA title capabilities launched after digital buildout and attracted initial large customers; private wealth investment will build on consumer and commercial relationship growth.

Deposits and margin

• Core customer funding grew 2%, 4% and 6% in consecutive June-to-June periods; growth reflects customer acquisition and deeper relationships, with account quality improving.

• Deposit strategy spans account and balance growth, stronger operating accounts, product and digital capabilities, customer experience and coordination across business lines.

• Margin is expected to expand in Q3 and Q4 despite purchase-accounting accretion runoff; residential real estate fell to 18% of the balance sheet from a 36% peak as low-yielding assets run off and commercial loans grow.

• Rising non-interest-bearing deposits and balance-sheet mix support gradual quarterly margin improvement; potential rate increases may slightly enhance profitability given modest asset sensitivity.