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

Strategic progress and growth initiatives

• Achieved shift from shrinking to growing customer base, with household growth moving from -2% to +2% and significant expansion in both consumer and commercial portfolios over five years.

• Integration of American National Bank is ahead of schedule, with cost savings realized and final systems conversion expected within three weeks.

• New strategic plan to be rolled out at the start of next year, targeting further margin and ROTCE expansion and continued household growth.

• Geographic expansion into Omaha and Twin Cities, leveraging strong local teams and product sets, with plans to launch private wealth offerings post-conversion.

• Commercial growth driven by hiring experienced bankers, launching new verticals, and expanding into major metropolitan markets like Dallas and Kansas City.

Competitive positioning and product innovation

• Focus on building products based on customer feedback, enhancing digital capabilities, and launching new features to stay ahead of competition.

• Treasury management sales have grown significantly, contributing to low-cost deposit growth and providing a strong funding runway for the next 12–36 months.

• Ongoing investment in technology and AI, with 30 use cases in development, driving efficiency and reducing development costs.

• New leadership in digital and AI to accelerate innovation and improve customer experience across all business lines.

• Launch of HOA title business and expansion of private wealth capabilities to deepen customer relationships.

Financial performance and outlook

• Margin expansion expected in Q3 and Q4, supported by balance sheet remixing from residential real estate to higher-margin commercial loans.

• Non-interest-bearing deposits are rising, aligning with household growth and supporting funding stability.

• Fee income growth driven by treasury management, card services, and deeper commercial relationships, with treasury management identified as a key growth area.

• Buybacks authorized for over $200 million, with plans to execute in Q3 and Q4 while maintaining growth funding.

• Strategic planning for 2027 will focus on cost control, targeted investment, and further expansion in major metropolitan markets.