Revenue: As of FY2026 Q2, the actual value is USD 703.69 M.

EPS: As of FY2026 Q2, the actual value is USD 0.63, beating the estimate of USD 0.6029.

EBIT: As of FY2026 Q2, the actual value is USD 159.17 M.

Loans

Associated Banc-Corp reported total period-end loans of $36.5 billion in Q2 2026, which is a 15% increase from Q1 2026 and a 19% increase year-over-year compared to Q2 2025. Excluding the impact of the American National Corporation (ANC) acquisition, total loans grew by 3% quarter-over-quarter and 7% year-over-year. Period-end Commercial & Industrial (C&I) loans reached $13.8 billion, marking an 11% increase from Q1 2026 and a 22% increase from Q2 2025. Excluding ANC, C&I loans increased by 5% quarter-over-quarter and 15% year-over-year.

Deposits

Total period-end deposits were $39.9 billion, representing a 12% increase from Q1 2026 and a 17% increase from Q2 2025. Excluding ANC, total deposits decreased by -1% quarter-over-quarter but increased by 4% year-over-year. Period-end core customer deposits stood at $34.2 billion, up 12% from Q1 2026 and 21% from Q2 2025. Excluding ANC, core customer deposits decreased by -1% quarter-over-quarter but increased by 6% year-over-year. The Q2 2026 deposit balances included an additional $4.4 billion from ANC-related balances.

Net Interest Income and Margin

Net interest income for Q2 2026 was $370 million, with a net interest margin of 3.17%. Net interest income increased by $63 million from the prior quarter, and net interest margin improved by 14 basis points. The yield on total earning assets increased by 12 basis points in Q2, while interest-bearing liability costs decreased by 1 basis point.

Noninterest Income and Expense

Noninterest income for Q2 2026 was $80 million, a 6% increase from the prior quarter and a 20% increase from the same period last year. Noninterest expense was $272 million, which included $24.5 million of nonrecurring costs related to the acquisition of American National Corporation.

Credit Quality

The provision for credit losses was $19 million. The Allowance for Credit Losses on Loans (ACLL) to total loans ratio was 1.36%. Net Charge-Offs (NCOs) to average loans (annualized) were 0.26%. ACLL increased to $494 million following the ANC acquisition, and ACLL/total loans increased by 2 basis points. Total delinquent loans decreased, and NCOs were $23 million, including $7 million of ANC-related NCOs.

Capital Profile

The CET1 Ratio was 10.47%, and the Total Capital Ratio was 12.79%. The Common Equity to Total Assets ratio was 10.51%. Associated Banc-Corp continues to target a CET1 range of 10% to 10.75% in 2026.

American National Corporation (ANC) Integration Update

The transaction closed on April 1, 2026, with system, branch, and account conversions anticipated in October 2026. Nonrecurring merger expenses are now forecasted at $52.5 million for Associated Banc-Corp, an increase from the initial estimate of $47 million. The loan fair value marks resulted in a markdown of -$16.7 million, compared to an initial markup of $7.5 million. Cost savings are now estimated at 30% of ANC’s noninterest expense base, up from 25%. The updated TBVPS dilution is 1.9%, compared to an initial estimate of ~1.2%, with a TBVPS earnback period remaining at ~2.25 years.

Outlook / Guidance

Associated Banc-Corp updated its full-year 2026 outlook, projecting total loans to increase by 18% to 20% and net interest income to increase by 19% to 21%. Guidance for total C&I loans, total deposits, and core customer deposits remains unchanged, with projected increases of 20% to 22%, 17% to 19%, and 19% to 21%, respectively. Noninterest income is expected to increase by 8% to 10%, and noninterest expense is projected to increase by 20% to 21%, including nonrecurring acquisition costs.