Associated Banc- Stock Earnings Reports

Key points for investors: Associated Banc-Corp reported Q1 2026 EPS of $0.70. The quarter showed strong organic growth momentum: total period-end loans rose ~2% sequentially (+$635M) with C&I leading (~$540M), and checking household growth annualized at 2.2%. Core customer deposits increased ~4.5% YoY (core customer deposits +$820M vs Q4) despite some seasonality; management accelerated short-term funding (promo CDs) to support loan growth. The company closed the acquisition of American National Bank on April 1; conversion of accounts/systems/branches is expected in late Q3 and management says early integration is on track with cultural fit and expected cost/takeout benefits. Updated pro forma expectations (including ANB): 2026 period-end loan growth 17%-19% and total deposit growth 17%-19% (customer deposits 19%-21%) compared to Associated stand-alone 2025. Management expects 2026 income growth (presumably core income) of ~8%-10% vs stand-alone 2025 and signaled net interest income upside versus prior guidance given quarter-end balances and an asset-sensitive profile. Q1 net interest income was $307M (down modestly vs Q4 but +7% YoY); NIM was 3.03% (down 3 bps Q/Q but +6 bps Y/Y). Noninterest income ($76M) was below Q4 but up year-over-year; noninterest expense was $219M (adjusted efficiency ~55.8%), roughly flat Q/Q. Credit remained solid: ACL rose $6M to $425M (1.34% of loans), provision of $11M, net charge-offs $5M (7 bps annualized), nonaccruals $111M. Capital: CET1 10.47%, TCE 8.27%, tangible book value $22.23. Management reiterated a disciplined growth and risk-management approach, expects purchase-accounting marks to be finalized later in the quarter, will update NII and NIE outlook then, and signaled intent to deploy recently authorized buyback capacity this year if performance/capital permit.