Associated Banc-Corp (ASB) 10-Year Financial Performance & Capital Metrics

ASB • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

AboutAssociated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services. Its Corporate and Commercial Specialty segment offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications; deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; specialized financial services such as interest rate risk management, foreign exchange solutions, and commodity hedging; fiduciary services such as administration of pension, profit-sharing and other employee benefit plans, fiduciary and corporate agency services, and institutional asset management; and investable funds solutions such as savings, money market deposit accounts, IRA accounts, CDs, fixed and variable annuities, full-service, discount and online investment brokerage; investment advisory services; and trust and investment management accounts. The company's Community, Consumer, and Business segment offers lending solutions, such as residential mortgages, home equity loans and lines of credit, personal and installment loans, auto loans, business loans, and business lines of credit; and deposit and transactional solutions such as checking, credit, debit and pre-paid cards, online banking and bill pay; and money transfer services. As of December 31, 2021, the company operated 215 banking branches. Associated Banc-Corp was founded in 1861 and is headquartered in Green Bay, Wisconsin.Show more

Net Interest Income $1.05B +0.7%
Total Revenue $2.1B +4.4%
Net Income $123M -32.7%
Return on Equity 2.81% -37.2%
Net Interest Margin 2.43% -4.0%
Efficiency Ratio 38.48% -4.0%
ROA 0.29% -35.6%
Equity / Assets 10.7% +5.2%
Book Value per Share 30.03 +8.6%
Tangible BV/Share 22.05 +13.0%
Debt/Equity 0.69 +2.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 38.5% efficiency ratio
✓13 consecutive years of dividend growth
✓Well capitalized: 10.7% equity/assets
✓Healthy dividend yield of 3.4%
✓Trading near 52-week high
✓Trading at only 0.9x book value

✗Weaknesses

✗Profits declining 17.7% over 5 years
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.43%

5Y6.39%

3Y23.35%

TTM-

Profit (Net Income) CAGR

10Y-4.27%

5Y-17.73%

3Y-29.47%

TTM-9.24%

EPS CAGR

10Y-4.66%

5Y-17.73%

3Y-30.88%

TTM-22.5%

ROCE

10Y Avg5.2%

5Y Avg5.15%

3Y Avg4.59%

Latest2.13%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	676.28M	707.27M	741.22M	879.58M	835.67M	762.96M	725.86M	957.32M	1.04B	1.05B
NII Growth %	-0.01%	0.05%	0.05%	0.19%	-0.05%	-0.09%	-0.05%	0.32%	0.09%	0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	753.66M	791.57M	886.61M	1.15B	1.17B	912.84M	798.19M	1.15B	1.96B	2.12B
Interest Expense	77.38M	84.3M	145.38M	274.56M	336.94M	149.88M	72.33M	187.93M	918.48M	1.08B
Loan Loss Provision	37.5M	70M	26M	0	16M	174.01M	-88.01M	33M	83.02M	84.99M
Non-Interest Income+	329.36M	352.88M	325.39M	348.16M	371.96M	494.01M	323.18M	276.44M	57.77M	-17.88M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	1.08B	1.14B	1.21B	1.5B	1.54B	1.41B	1.12B	1.42B	2.02B	2.1B
Revenue Growth %	0.05%	0.06%	0.06%	0.24%	0.03%	-0.09%	-0.2%	0.27%	0.42%	0.04%
Non-Interest Expense	698.35M	702.56M	701.84M	814.39M	785.13M	755.99M	700.74M	741.14M	808.27M	809.92M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	269.79M	287.6M	338.77M	413.35M	406.51M	326.97M	436.31M	459.63M	206.05M	134.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.02%	0.07%	0.18%	0.22%	-0.02%	-0.2%	0.33%	0.05%	-0.55%	-0.35%
Pretax Income+	269.79M	287.6M	338.77M	413.35M	406.51M	326.97M	436.31M	459.63M	206.05M	134.46M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	81.49M	87.32M	109.5M	79.79M	79.72M	20.2M	85.31M	93.51M	23.1M	11.31M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	188.3M	200.27M	229.26M	333.56M	326.79M	306.77M	350.99M	366.12M	182.96M	123.14M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.01%	0.06%	0.14%	0.45%	-0.02%	-0.06%	0.14%	0.04%	-0.5%	-0.33%
Net Income (Continuing)	188.3M	200.27M	229.26M	333.56M	326.79M	306.77M	350.99M	366.12M	182.96M	123.14M
EPS (Diluted)+	1.19	1.26	1.42	1.89	1.91	1.86	2.18	2.34	1.13	0.72
EPS Growth %	0.03%	0.06%	0.13%	0.33%	0.01%	-0.03%	0.17%	0.07%	-0.52%	-0.36%
EPS (Basic)	1.20	1.27	1.45	1.92	1.93	1.87	2.20	2.36	1.14	0.73
Diluted Shares Outstanding	150.6M	149.96M	153.65M	169.73M	161.93M	153.64M	151.99M	150.5M	150.86M	153.35M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	454.69M	595.73M	683.37M	728.41M	581M	716.05M	1.03B	593.64M	909.47M	997.65M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	24.7B	25.92B	27.1B	29.7B	28.53B	29.47B	30.96B	35.51B	36.75B	38.69B
Investments Growth %	0.06%	0.05%	0.05%	0.1%	-0.04%	0.03%	0.05%	0.15%	0.03%	0.05%
Long-Term Investments	19.73B	21.24B	23.06B	25.76B	25.27B	26.39B	26.63B	32.77B	33.15B	34.11B
Accounts Receivables	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	968.84M	971.95M	976.24M	1.17B	1.18B	1.11B	1.1B	1.1B	1.1B	1.1B
Intangible Assets	77.8M	76.85M	73.96M	144.03M	155.61M	110.22M	112.95M	126.63M	124.86M	119.34M
PP&E (Net)	267.61M	330.31M	330.96M	363.23M	435.28M	418.91M	385.17M	376.91M	373.35M	379.09M
Other Assets	1.24B	1.25B	1.32B	1.51B	1.41B	1.5B	1.43B	1.55B	1.58B	1.55B
Total Current Assets	5.42B	5.28B	4.73B	4.68B	3.93B	3.89B	5.44B	3.48B	4.68B	5.74B
Total Non-Current Assets	22.29B	23.86B	25.76B	28.94B	28.45B	29.53B	29.67B	35.93B	36.34B	37.26B
Total Assets+	27.71B	29.14B	30.48B	33.65B	32.39B	33.42B	35.1B	39.41B	41.02B	43.02B
Asset Growth %	0.03%	0.05%	0.05%	0.1%	-0.04%	0.03%	0.05%	0.12%	0.04%	0.05%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	3.51B	3.85B	4.07B	4.53B	4.2B	2.43B	2.22B	5.17B	2.81B	3.16B
Net Debt	3.06B	3.26B	3.39B	3.8B	3.61B	1.72B	1.2B	4.58B	1.9B	2.16B
Long-Term Debt	2.68B	2.76B	3.68B	3.47B	3.21B	2.18B	1.87B	1.44B	1.74B	1.44B
Short-Term Debt	834.42M	1.09B	392.28M	1.06B	985.11M	252.32M	354.26M	3.73B	1.07B	1.72B
Other Liabilities	0	0	0	-87.67M	21.91M	47.78M	39.78M	38.78M	34.77M	607.26M
Total Current Liabilities	22.1B	23.29B	23.56B	26.45B	25.23B	27.1B	29.17B	33.91B	35.07B	36.37B
Total Non-Current Liabilities	2.68B	2.76B	3.68B	3.38B	3.23B	2.23B	1.91B	1.48B	1.78B	2.05B
Total Liabilities	24.77B	26.05B	27.25B	29.87B	28.46B	29.33B	31.08B	35.39B	36.84B	38.42B
Total Equity+	2.94B	3.09B	3.24B	3.78B	3.92B	4.09B	4.02B	4.02B	4.17B	4.61B
Equity Growth %	0.05%	0.05%	0.05%	0.17%	0.04%	0.04%	-0.02%	-0%	0.04%	0.1%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.07%	0.07%	0.07%	0.1%	0.08%	0.08%	0.09%	0.09%	0.04%	0.03%
Book Value per Share	19.50	20.61	21.07	22.28	24.22	26.63	26.48	26.68	27.67	30.03
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	1.64M	1.63M	1.62M	1.75M	1.75M	1.75M	1.75M	1.75M	1.75M	1.89M
Additional Paid-in Capital	1.46B	1.46B	1.34B	1.71B	1.72B	1.72B	1.71B	1.71B	1.71B	2.05B
Retained Earnings	1.59B	1.7B	1.93B	2.18B	2.38B	2.46B	2.67B	2.9B	2.95B	2.92B
Accumulated OCI	-32.62M	-54.68M	-62.76M	-124.97M	-33.18M	12.62M	-10.32M	-272.8M	-171.1M	-74.42M
Treasury Stock	-204.92M	-170.83M	-134.76M	-246.64M	-400.46M	-456.2M	-546.23M	-525.19M	-512.42M	-482.63M
Preferred Stock	121.38M	159.93M	159.93M	256.72M	256.72M	353.51M	193.19M	194.11M	194.11M	194.11M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	301.21M	641.38M	458.37M	496.57M	574.26M	550.02M	529.55M	846.57M	442.74M	580.25M
Operating CF Growth %	0.51%	1.13%	-0.29%	0.08%	0.16%	-0.04%	-0.04%	0.6%	-0.48%	0.31%
Net Income	188.3M	200.27M	229.26M	333.56M	326.79M	306.77M	350.99M	366.12M	182.96M	123.14M
Depreciation & Amortization	101.67M	106.47M	96.49M	77.63M	104.1M	108.45M	70.44M	68.88M	94.31M	102.51M
Deferred Taxes	-422K	15.93M	41.24M	19.43M	20.06M	25.56M	34.07M	34.68M	34.25M	34.84M
Other Non-Cash Items	19.05M	305.05M	121.82M	-22.5M	213.56M	277.51M	-130.1M	129.65M	247.8M	326.53M
Working Capital Changes	-7.39M	13.67M	-30.44M	88.45M	-90.25M	-168.27M	204.15M	247.24M	-116.57M	-6.78M
Cash from Investing+	-1.53B	-1.65B	-1.4B	-380.87M	1.62B	-793.74M	-1.58B	-5.25B	-1.44B	-2.22B
Purchase of Investments	-3.13B	-1.52B	-1.43B	-1.48B	-883.81M	-1.77B	-3.37B	-1.26B	-1.98B	-3.32B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	1.13M	-685K	339K	59.47M	551.25M	224.99M	2.42M	0	0	0
Other Investing	-1.07B	-1.65B	-867.19M	-349.79M	-172.18M	-1.61B	157.28M	-4.73B	-654.87M	-1.28B
Cash from Financing+	674.23M	1.18B	1.01B	44.98M	-2.48B	371.02M	1.36B	4B	1.3B	1.73B
Dividends Paid	-69.56M	-76.76M	-85.76M	-116.3M	-127.01M	-130.38M	-133.17M	-134.64M	-141.03M	-150.7M
Share Repurchases	-98.15M	-25.08M	-46.32M	-247.21M	-186.08M	-77.37M	-302.26M	-6.48M	-6.59M	-24.52M
Stock Issued	20.05M	21.75M	27.62M	18.41M	11.22M	3.97M	25.7M	0	0	331.02M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	1000K
Other Financing	2.24B	880.78M	897.51M	270.48M	-1.84B	2.27B	2.01B	1.18B	3.81B	1.22B
Net Change in Cash+	-558.38M	168.55M	73.78M	160.68M	-287.95M	127.3M	309.47M	-404.06M	302.37M	95.78M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	1.03B	473.69M	642.23M	716.02M	876.7M	588.74M	716.05M	1.03B	621.46M	923.82M
Cash at End	473.69M	642.23M	716.02M	876.7M	588.74M	716.05M	1.03B	621.46M	923.82M	1.02B
Interest Paid	73.05M	88.27M	138.17M	261.72M	332.92M	159.29M	81.6M	174.68M	838.83M	1.08B
Income Taxes Paid	84.41M	75.56M	81.45M	18.34M	41.13M	17.73M	57.73M	18.39M	69.42M	17.75M
Free Cash Flow+	246.57M	537.5M	411M	430.71M	506.8M	495.14M	477.27M	783.86M	380.93M	535.26M
FCF Growth %	0.65%	1.18%	-0.24%	0.05%	0.18%	-0.02%	-0.04%	0.64%	-0.51%	0.41%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.56%	6.64%	7.25%	9.51%	8.48%	7.66%	8.65%	9.11%	4.47%	2.81%
Return on Assets (ROA)	0.69%	0.7%	0.77%	1.04%	0.99%	0.93%	1.02%	0.98%	0.46%	0.29%
Net Interest Margin	2.44%	2.43%	2.43%	2.61%	2.58%	2.28%	2.07%	2.43%	2.53%	2.43%
Efficiency Ratio	64.48%	61.39%	57.91%	54.21%	50.83%	53.74%	62.49%	52.13%	40.1%	38.48%
Equity / Assets	10.6%	10.61%	10.62%	11.24%	12.11%	12.24%	11.47%	10.19%	10.18%	10.7%
Book Value / Share	19.5	20.61	21.07	22.28	24.22	26.63	26.48	26.68	27.67	30.03
NII Growth	-0.69%	4.58%	4.8%	18.67%	-4.99%	-8.7%	-4.86%	31.89%	8.59%	0.74%
Dividend Payout	33.14%	33.88%	33.33%	31.63%	34.21%	36.52%	33.07%	33.63%	70.8%	113.03%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Credit and Debit Card	-	-	-	-	39.76M	38.53M	43.01M	44.01M	45.02M	46.92M
Credit and Debit Card Growth	-	-	-	-	-	-3.07%	11.63%	2.32%	2.29%	4.22%
Financial Service, Other	-	-	-	-	18.94M	19.24M	17.09M	15.9M	17.27M	19.5M
Financial Service, Other Growth	-	-	-	-	-	1.56%	-11.19%	-6.92%	8.58%	12.92%
Card-Based and Loan Fees	-	-	-	57.47M	-	-	-	-	-	-
Card-Based and Loan Fees Growth	-	-	-	-	-	-	-	-	-	-
Others	-	4M	5M	-	-	-	-	-	-	-
Others Growth	-	-	25.00%	-	-	-	-	-	-	-
Community, Consumer, and Business	614.77M	-	-	-	-	-	-	-	-	-
Community, Consumer, and Business Growth	-	-	-	-	-	-	-	-	-	-
Commercial Banking	356.81M	-	-	-	-	-	-	-	-	-
Commercial Banking Growth	-	-	-	-	-	-	-	-	-	-
Risk Management and Shared Serivies	33.1M	-	-	-	-	-	-	-	-	-
Risk Management and Shared Serivies Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Associated Banc-Corp (ASB) has a price-to-earnings (P/E) ratio of 37.1x. This suggests investors expect higher future growth.

Growth & Financials

Associated Banc-Corp (ASB) grew revenue by 4.4% over the past year. Growth has been modest.

Yes, Associated Banc-Corp (ASB) is profitable, generating $176.0M in net income for fiscal year 2024 (5.9% net margin).

Dividend & Returns

Yes, Associated Banc-Corp (ASB) pays a dividend with a yield of 3.40%. This makes it attractive for income-focused investors.

Associated Banc-Corp (ASB) has a return on equity (ROE) of 2.8%. This is below average, suggesting room for improvement.

Industry Metrics

Associated Banc-Corp (ASB) has a net interest margin (NIM) of 2.4%. NIM has been under pressure due to interest rate environment.

Associated Banc-Corp (ASB) has an efficiency ratio of 38.5%. This is excellent, indicating strong cost control.

US Stock Screener

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Associated Banc-Corp (ASB) 10-Year Financial Performance & Capital Metrics

ASB • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

Net Interest Income $1.05B +0.7%
Total Revenue $2.1B +4.4%
Net Income $123M -32.7%
Return on Equity 2.81% -37.2%
Net Interest Margin 2.43% -4.0%
Efficiency Ratio 38.48% -4.0%
ROA 0.29% -35.6%
Equity / Assets 10.7% +5.2%
Book Value per Share 30.03 +8.6%
Tangible BV/Share 22.05 +13.0%
Debt/Equity 0.69 +2.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 38.5% efficiency ratio
✓13 consecutive years of dividend growth
✓Well capitalized: 10.7% equity/assets
✓Healthy dividend yield of 3.4%
✓Trading near 52-week high
✓Trading at only 0.9x book value

✗Weaknesses

✗Profits declining 17.7% over 5 years
✗Dividend payout exceeds 100% of earnings

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y7.43%

5Y6.39%

3Y23.35%

TTM-

Profit (Net Income) CAGR

10Y-4.27%

5Y-17.73%

3Y-29.47%

TTM-9.24%

EPS CAGR

10Y-4.66%

5Y-17.73%

3Y-30.88%

TTM-22.5%

ROCE

10Y Avg5.2%

5Y Avg5.15%

3Y Avg4.59%

Latest2.13%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	676.28M	707.27M	741.22M	879.58M	835.67M	762.96M	725.86M	957.32M	1.04B	1.05B
NII Growth %	-0.01%	0.05%	0.05%	0.19%	-0.05%	-0.09%	-0.05%	0.32%	0.09%	0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	753.66M	791.57M	886.61M	1.15B	1.17B	912.84M	798.19M	1.15B	1.96B	2.12B
Interest Expense	77.38M	84.3M	145.38M	274.56M	336.94M	149.88M	72.33M	187.93M	918.48M	1.08B
Loan Loss Provision	37.5M	70M	26M	0	16M	174.01M	-88.01M	33M	83.02M	84.99M
Non-Interest Income+	329.36M	352.88M	325.39M	348.16M	371.96M	494.01M	323.18M	276.44M	57.77M	-17.88M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	1.08B	1.14B	1.21B	1.5B	1.54B	1.41B	1.12B	1.42B	2.02B	2.1B
Revenue Growth %	0.05%	0.06%	0.06%	0.24%	0.03%	-0.09%	-0.2%	0.27%	0.42%	0.04%
Non-Interest Expense	698.35M	702.56M	701.84M	814.39M	785.13M	755.99M	700.74M	741.14M	808.27M	809.92M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	269.79M	287.6M	338.77M	413.35M	406.51M	326.97M	436.31M	459.63M	206.05M	134.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.02%	0.07%	0.18%	0.22%	-0.02%	-0.2%	0.33%	0.05%	-0.55%	-0.35%
Pretax Income+	269.79M	287.6M	338.77M	413.35M	406.51M	326.97M	436.31M	459.63M	206.05M	134.46M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	81.49M	87.32M	109.5M	79.79M	79.72M	20.2M	85.31M	93.51M	23.1M	11.31M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	188.3M	200.27M	229.26M	333.56M	326.79M	306.77M	350.99M	366.12M	182.96M	123.14M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.01%	0.06%	0.14%	0.45%	-0.02%	-0.06%	0.14%	0.04%	-0.5%	-0.33%
Net Income (Continuing)	188.3M	200.27M	229.26M	333.56M	326.79M	306.77M	350.99M	366.12M	182.96M	123.14M
EPS (Diluted)+	1.19	1.26	1.42	1.89	1.91	1.86	2.18	2.34	1.13	0.72
EPS Growth %	0.03%	0.06%	0.13%	0.33%	0.01%	-0.03%	0.17%	0.07%	-0.52%	-0.36%
EPS (Basic)	1.20	1.27	1.45	1.92	1.93	1.87	2.20	2.36	1.14	0.73
Diluted Shares Outstanding	150.6M	149.96M	153.65M	169.73M	161.93M	153.64M	151.99M	150.5M	150.86M	153.35M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	454.69M	595.73M	683.37M	728.41M	581M	716.05M	1.03B	593.64M	909.47M	997.65M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	24.7B	25.92B	27.1B	29.7B	28.53B	29.47B	30.96B	35.51B	36.75B	38.69B
Investments Growth %	0.06%	0.05%	0.05%	0.1%	-0.04%	0.03%	0.05%	0.15%	0.03%	0.05%
Long-Term Investments	19.73B	21.24B	23.06B	25.76B	25.27B	26.39B	26.63B	32.77B	33.15B	34.11B
Accounts Receivables	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	968.84M	971.95M	976.24M	1.17B	1.18B	1.11B	1.1B	1.1B	1.1B	1.1B
Intangible Assets	77.8M	76.85M	73.96M	144.03M	155.61M	110.22M	112.95M	126.63M	124.86M	119.34M
PP&E (Net)	267.61M	330.31M	330.96M	363.23M	435.28M	418.91M	385.17M	376.91M	373.35M	379.09M
Other Assets	1.24B	1.25B	1.32B	1.51B	1.41B	1.5B	1.43B	1.55B	1.58B	1.55B
Total Current Assets	5.42B	5.28B	4.73B	4.68B	3.93B	3.89B	5.44B	3.48B	4.68B	5.74B
Total Non-Current Assets	22.29B	23.86B	25.76B	28.94B	28.45B	29.53B	29.67B	35.93B	36.34B	37.26B
Total Assets+	27.71B	29.14B	30.48B	33.65B	32.39B	33.42B	35.1B	39.41B	41.02B	43.02B
Asset Growth %	0.03%	0.05%	0.05%	0.1%	-0.04%	0.03%	0.05%	0.12%	0.04%	0.05%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	3.51B	3.85B	4.07B	4.53B	4.2B	2.43B	2.22B	5.17B	2.81B	3.16B
Net Debt	3.06B	3.26B	3.39B	3.8B	3.61B	1.72B	1.2B	4.58B	1.9B	2.16B
Long-Term Debt	2.68B	2.76B	3.68B	3.47B	3.21B	2.18B	1.87B	1.44B	1.74B	1.44B
Short-Term Debt	834.42M	1.09B	392.28M	1.06B	985.11M	252.32M	354.26M	3.73B	1.07B	1.72B
Other Liabilities	0	0	0	-87.67M	21.91M	47.78M	39.78M	38.78M	34.77M	607.26M
Total Current Liabilities	22.1B	23.29B	23.56B	26.45B	25.23B	27.1B	29.17B	33.91B	35.07B	36.37B
Total Non-Current Liabilities	2.68B	2.76B	3.68B	3.38B	3.23B	2.23B	1.91B	1.48B	1.78B	2.05B
Total Liabilities	24.77B	26.05B	27.25B	29.87B	28.46B	29.33B	31.08B	35.39B	36.84B	38.42B
Total Equity+	2.94B	3.09B	3.24B	3.78B	3.92B	4.09B	4.02B	4.02B	4.17B	4.61B
Equity Growth %	0.05%	0.05%	0.05%	0.17%	0.04%	0.04%	-0.02%	-0%	0.04%	0.1%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.07%	0.07%	0.07%	0.1%	0.08%	0.08%	0.09%	0.09%	0.04%	0.03%
Book Value per Share	19.50	20.61	21.07	22.28	24.22	26.63	26.48	26.68	27.67	30.03
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	1.64M	1.63M	1.62M	1.75M	1.75M	1.75M	1.75M	1.75M	1.75M	1.89M
Additional Paid-in Capital	1.46B	1.46B	1.34B	1.71B	1.72B	1.72B	1.71B	1.71B	1.71B	2.05B
Retained Earnings	1.59B	1.7B	1.93B	2.18B	2.38B	2.46B	2.67B	2.9B	2.95B	2.92B
Accumulated OCI	-32.62M	-54.68M	-62.76M	-124.97M	-33.18M	12.62M	-10.32M	-272.8M	-171.1M	-74.42M
Treasury Stock	-204.92M	-170.83M	-134.76M	-246.64M	-400.46M	-456.2M	-546.23M	-525.19M	-512.42M	-482.63M
Preferred Stock	121.38M	159.93M	159.93M	256.72M	256.72M	353.51M	193.19M	194.11M	194.11M	194.11M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	301.21M	641.38M	458.37M	496.57M	574.26M	550.02M	529.55M	846.57M	442.74M	580.25M
Operating CF Growth %	0.51%	1.13%	-0.29%	0.08%	0.16%	-0.04%	-0.04%	0.6%	-0.48%	0.31%
Net Income	188.3M	200.27M	229.26M	333.56M	326.79M	306.77M	350.99M	366.12M	182.96M	123.14M
Depreciation & Amortization	101.67M	106.47M	96.49M	77.63M	104.1M	108.45M	70.44M	68.88M	94.31M	102.51M
Deferred Taxes	-422K	15.93M	41.24M	19.43M	20.06M	25.56M	34.07M	34.68M	34.25M	34.84M
Other Non-Cash Items	19.05M	305.05M	121.82M	-22.5M	213.56M	277.51M	-130.1M	129.65M	247.8M	326.53M
Working Capital Changes	-7.39M	13.67M	-30.44M	88.45M	-90.25M	-168.27M	204.15M	247.24M	-116.57M	-6.78M
Cash from Investing+	-1.53B	-1.65B	-1.4B	-380.87M	1.62B	-793.74M	-1.58B	-5.25B	-1.44B	-2.22B
Purchase of Investments	-3.13B	-1.52B	-1.43B	-1.48B	-883.81M	-1.77B	-3.37B	-1.26B	-1.98B	-3.32B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	1.13M	-685K	339K	59.47M	551.25M	224.99M	2.42M	0	0	0
Other Investing	-1.07B	-1.65B	-867.19M	-349.79M	-172.18M	-1.61B	157.28M	-4.73B	-654.87M	-1.28B
Cash from Financing+	674.23M	1.18B	1.01B	44.98M	-2.48B	371.02M	1.36B	4B	1.3B	1.73B
Dividends Paid	-69.56M	-76.76M	-85.76M	-116.3M	-127.01M	-130.38M	-133.17M	-134.64M	-141.03M	-150.7M
Share Repurchases	-98.15M	-25.08M	-46.32M	-247.21M	-186.08M	-77.37M	-302.26M	-6.48M	-6.59M	-24.52M
Stock Issued	20.05M	21.75M	27.62M	18.41M	11.22M	3.97M	25.7M	0	0	331.02M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	1000K
Other Financing	2.24B	880.78M	897.51M	270.48M	-1.84B	2.27B	2.01B	1.18B	3.81B	1.22B
Net Change in Cash+	-558.38M	168.55M	73.78M	160.68M	-287.95M	127.3M	309.47M	-404.06M	302.37M	95.78M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	1.03B	473.69M	642.23M	716.02M	876.7M	588.74M	716.05M	1.03B	621.46M	923.82M
Cash at End	473.69M	642.23M	716.02M	876.7M	588.74M	716.05M	1.03B	621.46M	923.82M	1.02B
Interest Paid	73.05M	88.27M	138.17M	261.72M	332.92M	159.29M	81.6M	174.68M	838.83M	1.08B
Income Taxes Paid	84.41M	75.56M	81.45M	18.34M	41.13M	17.73M	57.73M	18.39M	69.42M	17.75M
Free Cash Flow+	246.57M	537.5M	411M	430.71M	506.8M	495.14M	477.27M	783.86M	380.93M	535.26M
FCF Growth %	0.65%	1.18%	-0.24%	0.05%	0.18%	-0.02%	-0.04%	0.64%	-0.51%	0.41%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.56%	6.64%	7.25%	9.51%	8.48%	7.66%	8.65%	9.11%	4.47%	2.81%
Return on Assets (ROA)	0.69%	0.7%	0.77%	1.04%	0.99%	0.93%	1.02%	0.98%	0.46%	0.29%
Net Interest Margin	2.44%	2.43%	2.43%	2.61%	2.58%	2.28%	2.07%	2.43%	2.53%	2.43%
Efficiency Ratio	64.48%	61.39%	57.91%	54.21%	50.83%	53.74%	62.49%	52.13%	40.1%	38.48%
Equity / Assets	10.6%	10.61%	10.62%	11.24%	12.11%	12.24%	11.47%	10.19%	10.18%	10.7%
Book Value / Share	19.5	20.61	21.07	22.28	24.22	26.63	26.48	26.68	27.67	30.03
NII Growth	-0.69%	4.58%	4.8%	18.67%	-4.99%	-8.7%	-4.86%	31.89%	8.59%	0.74%
Dividend Payout	33.14%	33.88%	33.33%	31.63%	34.21%	36.52%	33.07%	33.63%	70.8%	113.03%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Credit and Debit Card	-	-	-	-	39.76M	38.53M	43.01M	44.01M	45.02M	46.92M
Credit and Debit Card Growth	-	-	-	-	-	-3.07%	11.63%	2.32%	2.29%	4.22%
Financial Service, Other	-	-	-	-	18.94M	19.24M	17.09M	15.9M	17.27M	19.5M
Financial Service, Other Growth	-	-	-	-	-	1.56%	-11.19%	-6.92%	8.58%	12.92%
Card-Based and Loan Fees	-	-	-	57.47M	-	-	-	-	-	-
Card-Based and Loan Fees Growth	-	-	-	-	-	-	-	-	-	-
Others	-	4M	5M	-	-	-	-	-	-	-
Others Growth	-	-	25.00%	-	-	-	-	-	-	-
Community, Consumer, and Business	614.77M	-	-	-	-	-	-	-	-	-
Community, Consumer, and Business Growth	-	-	-	-	-	-	-	-	-	-
Commercial Banking	356.81M	-	-	-	-	-	-	-	-	-
Commercial Banking Growth	-	-	-	-	-	-	-	-	-	-
Risk Management and Shared Serivies	33.1M	-	-	-	-	-	-	-	-	-
Risk Management and Shared Serivies Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Associated Banc-Corp (ASB) has a price-to-earnings (P/E) ratio of 37.1x. This suggests investors expect higher future growth.

Growth & Financials

Associated Banc-Corp (ASB) grew revenue by 4.4% over the past year. Growth has been modest.

Yes, Associated Banc-Corp (ASB) is profitable, generating $176.0M in net income for fiscal year 2024 (5.9% net margin).

Dividend & Returns

Yes, Associated Banc-Corp (ASB) pays a dividend with a yield of 3.40%. This makes it attractive for income-focused investors.

Associated Banc-Corp (ASB) has a return on equity (ROE) of 2.8%. This is below average, suggesting room for improvement.

Industry Metrics

Associated Banc-Corp (ASB) has a net interest margin (NIM) of 2.4%. NIM has been under pressure due to interest rate environment.

Associated Banc-Corp (ASB) has an efficiency ratio of 38.5%. This is excellent, indicating strong cost control.