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Associated Banc-Corp logo

Associated Banc-Corp

associatedbank.com

What Do They Do?

Provides loans, deposit accounts and wealth management to individuals and businesses through its bank and nonbanking subsidiaries.

How Do They Make Money?

The bank earns interest on loans and investment securities, while paying interest on deposits and borrowings; it also collects fees for customer financial services, generally when services are provided or shortly afterward.

revenue
SegmentShareRevenue
Credit and Debit Card
Usage-based

69%
FY2022: 73%
Financial Service, Other
31%
FY2022: 27%

Who Are Their Customers?

Individuals and businesses use its banking and nonbanking services through the branch network. Larger businesses, developers, nonprofits, municipalities and financial institutions receive lending, deposit and cash-management solutions.

Do Revenues Turn Into Profits?

Yes. It kept 22 cents of every revenue dollar as net income in FY2025.

Net income, FY2025
22% of revenue
▲ +286% vs FY2024 ($123.1M, 6%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +14%
vs $545.5M in Q2 FY2025
Net income
▲ +11%
vs $111.2M in Q2 FY2025
Credit and Debit Card share of revenue from contract with customer, including assessed tax vs 69.2% in Q2 FY2025
  • Jul 23, 2026 Company sets 2026 loan growth outlook at 18% to 20% It expects period-end loan growth of 18% to 20% versus its standalone 2025 results.
  • Apr 1, 2026 Associated completed its acquisition of American National American National merged into Associated, and American National Bank merged into Associated Bank.

Growing. Revenue grew 2.1x in 4 years, from $1.1B in FY2021 to $2.2B in FY2025, about 20% a year.

Missouri added to the footprint The latest business section lists Missouri alongside Wisconsin, Illinois and Minnesota; the older section listed Wisconsin, Illinois and Minnesota.

Revenue over time
Credit and Debit Card Financial Service, Other
$100M$50M$0

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