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ASBA logoAssociated Banc-Corp(ASBA)Earnings, Financials & Key Ratios

ASBA•NYSE•Banking & Credit
$25.03
$4.15B mkt cap·31.3× P/E·Price updated May 7, 2026
SectorFinancial ServicesIndustryRegional BanksSub-IndustryCommercial and middle-market focused 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-$1.08B-25.7%
  • Total Revenue$953M-6.6%
  • Net Income$123M-32.7%
  • Return on Equity2.81%-37.2%
  • Net Interest Margin-2.5%-19.9%
  • Efficiency Ratio75.39%+10.5%
  • ROA0.29%-35.6%
  • Equity / Assets10.7%+5.2%
  • Book Value per Share30.03+8.6%
  • Tangible BV/Share22.62+12.7%
  • Debt/Equity0.17-58.7%
Technical→

ASBA Key Insights

Associated Banc-Corp (ASBA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Well capitalized: 10.7% equity/assets
  • ✓Healthy dividend yield of 3.6%
  • ✓Diversified revenue: 100.0% from non-interest income
  • ✓Trading near 52-week high
  • ✓Trading at only 0.8x book value

✗Weaknesses

  • ✗Profits declining 16.8% over 5 years
  • ✗Weak NIM of -2.5%
  • ✗High cost structure: 75.4% efficiency ratio
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

ASBA Price & Volume

Associated Banc-Corp (ASBA) stock price & volume — 10-year historical chart

Loading chart...

ASBA Growth Metrics

Associated Banc-Corp (ASBA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-0.03%
5 Years-4.52%
3 Years-5.97%
TTM-

Profit CAGR

10 Years-3.92%
5 Years-16.83%
3 Years-28.11%
TTM-6.56%

EPS CAGR

10 Years-3.65%
5 Years-15.97%
3 Years-28.41%
TTM-26.61%

Return on Capital

10 Years1.19%
5 Years1.08%
3 Years0.9%
Last Year0.56%

ASBA Recent Earnings

Associated Banc-Corp (ASBA) EPS & revenue vs analyst estimates — last 2 quarters

Full history →
Q1 2026Latest
Feb 12, 2026
EPS
$0.81
Revenue
$935M
Q4 2023
Sep 30, 2023
EPS
$0.53
Revenue
$299M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 12, 2026
$0.81
$935M
Q4 2023Sep 30, 2023
$0.53
$299M
Based on last 2 quarters of dataView full earnings history →

ASBA Peer Comparison

Associated Banc-Corp (ASBA) competitors in Commercial and middle-market focused banks — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
WTFC logoWTFCWintrust Financial CorporationDirect Competitor10.13B151.1813.086.66%11.35%0.62
IBCP logoIBCPIndependent Bank CorporationDirect Competitor698.89M33.9510.38-0.3%14.2%0.23
FULT logoFULTFulton Financial CorporationDirect Competitor4.13B21.4510.315.03%11.6%0.37
UMBF logoUMBFUMB Financial CorporationDirect Competitor9.99B131.1714.3768.52%11.67%0.49
WSFS logoWSFSWSFS Financial CorporationDirect Competitor3.8B72.0614.16-3.05%10.65%0.11
BOKF logoBOKFBOK Financial CorporationDirect Competitor10.28B133.4516.3910.4%8.91%0.80
CBSH logoCBSHCommerce Bancshares, Inc.Direct Competitor7.71B52.4812.862.23%15.34%0.79
RF logoRFRegions Financial CorporationProduct Competitor24.27B27.9612.212.51%11.29%0.26

Compare ASBA vs Peers

Associated Banc-Corp (ASBA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WTFC

Most directly comparable listed peer for ASBA.

Scale Benchmark

vs SPGI

Larger-name benchmark to compare ASBA against a more recognizable public peer.

Peer Set

Compare Top 5

vs WTFC, IBCP, FULT, UMBF

ASBA Income Statement

Associated Banc-Corp (ASBA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Net Interest Income0000000-855.3M-1.08B-327.77M
NII Growth %---------25.74%-27.88%
Net Interest Margin %0%0%0%0%0%0%0%-2.09%-2.5%-0.74%
Interest Income000000063.18M0-130.14M
Interest Expense0000000918.48M1.08B736.84M
Loan Loss Provision0000016.19M9.6M-1.86B-1.08B-280.76M
Non-Interest Income990.16M1.05B1.23B1.2B1.12B1.15B1.21B956.55M952.86M1.41B
Non-Interest Income %100%100%100%100%100%100%100%93.8%100%110.14%
Total Revenue
990.16M▲ 0%
1.05B▲ 5.8%
1.23B▲ 17.8%
1.2B▼ 2.8%
1.12B▼ 6.7%
1.15B▲ 2.3%
1.21B▲ 5.3%
1.02B▼ 15.5%
952.86M▼ 6.6%
1.28B▲ 0%
Revenue Growth %2.27%5.83%17.82%-2.76%-6.65%2.28%5.27%-15.49%-6.56%53.99%
Non-Interest Expense702.56M709.13M821.25M794.05M793.74M709.92M747.06M695.56M718.32M554.73M
Efficiency Ratio70.95%67.67%66.52%66.14%70.82%61.94%61.91%68.21%75.39%43.21%
Operating Income
329.28M▲ 0%
379.32M▲ 15.2%
487.37M▲ 28.5%
441.63M▼ 9.4%
432.47M▼ 2.1%
471.44M▲ 9.0%
497.02M▲ 5.4%
324.18M▼ 34.8%
234.54M▼ 27.7%
-35.69M▲ 0%
Operating Margin %33.26%36.2%39.48%36.79%38.59%41.13%41.19%31.79%24.61%-2.78%
Operating Income Growth %8.2%15.2%28.49%-9.39%-2.08%9.01%5.42%-34.77%-27.65%-
Pretax Income
287.6M▲ 0%
338.77M▲ 17.8%
413.35M▲ 22.0%
406.51M▼ 1.7%
326.97M▼ 19.6%
436.31M▲ 33.4%
459.63M▲ 5.3%
206.05M▼ 55.2%
134.46M▼ 34.7%
237.26M▲ 0%
Pretax Margin %29.05%32.33%33.48%33.86%29.18%38.06%38.09%20.21%14.11%18.48%
Income Tax87.32M109.5M79.79M79.72M20.2M85.31M93.51M23.1M11.31M61.23M
Effective Tax Rate %30.36%32.32%19.3%19.61%6.18%19.55%20.34%11.21%8.41%25.81%
Net Income
189.31M▲ 0%
218.56M▲ 15.5%
321.18M▲ 47.0%
309.51M▼ 3.6%
286.43M▼ 7.5%
331.51M▲ 15.7%
352.41M▲ 6.3%
182.96M▼ 48.1%
123.14M▼ 32.7%
176.03M▲ 0%
Net Margin %19.12%20.86%26.01%25.78%25.56%28.92%29.2%17.94%12.92%13.71%
Net Income Growth %5.6%15.45%46.95%-3.63%-7.46%15.74%6.31%-48.08%-32.69%-6.56%
Net Income (Continuing)200.27M229.26M333.56M326.79M306.77M350.99M366.12M182.96M123.14M176.03M
EPS (Diluted)
1.26▲ 0%
1.42▲ 12.7%
1.89▲ 33.1%
1.91▲ 1.1%
1.86▼ 2.6%
2.18▲ 17.2%
2.34▲ 7.3%
1.13▼ 51.7%
0.80▼ 29.2%
1.06▲ 0%
EPS Growth %5.88%12.7%33.1%1.06%-2.62%17.2%7.34%-51.71%-29.2%-26.61%
EPS (Basic)1.261.421.891.911.862.182.341.140.81-
Diluted Shares Outstanding149.96M153.65M169.73M161.93M153.64M151.99M150.5M150.86M153.35M166.7M

ASBA Balance Sheet

Associated Banc-Corp (ASBA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash & Short Term Investments642.23M643.04M782.78M400.23M716.05M1.03B464.76M4.09B5.13B21.71B
Cash & Due from Banks642.23M643.04M782.78M400.23M716.05M1.03B464.76M498.73M544.06M490.43M
Short Term Investments00000003.6B4.58B5.22B
Total Investments00000003.6B4.58B5.22B
Investments Growth %--------27.23%25.64%
Long-Term Investments0000000000
Accounts Receivables0000000000
Goodwill & Intangibles1.05B1.05B1.31B1.33B1.22B1.22B1.23B1.15B1.14B1.13B
Goodwill971.95M976.24M1.17B1.18B1.11B1.1B1.1B1.1B1.1B1.1B
Intangible Assets76.85M73.96M144.03M155.61M110.22M112.95M126.63M40.47M31.66M25.05M
PP&E (Net)330.31M330.96M363.23M437.47M419.88M385.32M377.36M372.98M379.09M384.14M
Other Assets27.12B28.46B31.16B30.22B31.06B32.48B37.33B000
Total Current Assets642.23M643.04M782.78M400.23M716.05M1.03B464.76M4.25B5.29B5.88B
Total Non-Current Assets28.5B29.84B32.83B31.99B32.7B34.08B38.94B1.52B1.52B1.51B
Total Assets
29.14B▲ 0%
30.48B▲ 4.6%
33.62B▲ 10.3%
32.39B▼ 3.7%
33.42B▲ 3.2%
35.1B▲ 5.0%
39.41B▲ 12.3%
41.02B▲ 4.1%
43.02B▲ 4.9%
44.46B▲ 0%
Asset Growth %5.15%4.61%10.27%-3.65%3.19%5.04%12.25%4.09%4.89%21.19%
Return on Assets (ROA)0.67%0.73%1%0.94%0.87%0.97%0.95%0.46%0.29%0.4%
Accounts Payable0000000000
Total Debt2.79B1.28B2.11B3.21B2.18B1.87B1.44B1.74B792.4M0
Net Debt2.15B632.44M1.32B2.81B1.47B844.69M977.7M1.24B-227.21M-490.43M
Long-Term Debt2.79B1.28B2.11B3.21B2.18B1.87B1.44B1.74B792.4M0
Short-Term Debt0000000000
Other Liabilities23.25B25.97B27.73B25.26B27.15B29.21B33.95B35.1B37.63B0
Total Current Liabilities226.65M292.91M367.82M294.46M207.27M90.55M317.8M000
Total Non-Current Liabilities25.82B26.95B29.47B28.17B29.12B30.99B35.07B36.84B38.42B0
Total Liabilities26.05B27.25B29.83B28.46B29.33B31.08B35.39B36.84B38.42B39.59B
Total Equity
3.09B▲ 0%
3.24B▲ 4.7%
3.78B▲ 16.8%
3.92B▲ 3.7%
4.09B▲ 4.3%
4.02B▼ 1.6%
4.02B▼ 0.2%
4.17B▲ 3.9%
4.61B▲ 10.3%
4.67B▲ 0%
Equity Growth %5.25%4.73%16.79%3.74%4.3%-1.62%-0.23%3.95%10.34%41.37%
Equity / Assets (Capital Ratio)10.61%10.62%11.25%12.11%12.24%11.47%10.19%10.18%10.7%10.51%
Return on Equity (ROE)6.28%6.91%9.15%8.04%7.15%8.17%8.77%4.47%2.81%3.77%
Book Value per Share20.6121.0722.2824.2226.6326.4826.6827.6730.0328.04
Tangible BV per Share13.6214.2414.5416.0018.6918.4718.5020.0722.6221.26
Common Stock1.63M1.62M1.75M1.75M1.75M1.75M1.75M1.75M1.89M1.89M
Additional Paid-in Capital1.46B1.34B1.71B1.72B1.72B1.71B1.71B1.71B2.05B0
Retained Earnings1.7B1.93B2.18B2.38B2.46B2.67B2.9B2.95B2.92B3.13B
Accumulated OCI-54.68M-62.76M-124.97M-33.18M12.62M-10.32M-272.8M-171.1M-74.42M-15.98M
Treasury Stock-170.83M-134.76M-246.64M-400.46M-456.2M-546.23M-525.19M-512.42M-482.63M0
Preferred Stock159.93M159.93M256.72M256.72M353.51M193.19M194.11M194.11M194.11M0

ASBA Cash Flow Statement

Associated Banc-Corp (ASBA) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations641.38M458.37M496.57M574.26M550.02M529.55M846.57M442.74M580.25M580.25M
Operating CF Growth %112.94%-28.53%8.33%15.65%-4.22%-3.72%59.86%-47.7%31.06%258.94%
Net Income200.27M229.26M333.56M326.79M306.77M350.99M366.12M182.96M123.14M176.03M
Depreciation & Amortization59.85M59.01M66.01M80.53M60.76M55.35M53.9M55.8M57.66M59.2M
Deferred Taxes-14.16M-12.52M-9.58M-32.59M-21.93M-25.73M47.21M000
Other Non-Cash Items345.59M165.46M50.68M173.13M193.33M17.3M472.98M131.46M331.91M337.2M
Working Capital Changes13.67M-17.36M29.32M-31.19M-31.84M89.91M-63.15M55.19M29.96M3.14M
Cash from Investing-1.65B-1.4B-380.87M1.62B-793.74M-1.58B-5.25B-1.44B-2.22B-2.3B
Purchase of Investments0000000000
Sale/Maturity of Investments00000001000K1000K1000K
Net Investment Activity00000001000K1000K1000K
Acquisitions-685K339K59.47M551.25M-31.52M00000
Other Investing-1.55B-1.35B-374.49M1.13B-707.54M-1.53B-5.19B-1.44B-2.36B-2.44B
Cash from Financing1.18B1.01B44.98M-2.48B371.02M1.36B4B1.3B1.73B2.02B
Dividends Paid-76.76M-85.76M-116.3M-127.01M-130.38M-133.17M-134.64M-141.03M-139.2M-154.13M
Share Repurchases-25.08M-46.32M-246.67M-186.08M-77.37M-137.8M-6.48M-6.59M-24.52M-22.61M
Stock Issued0000000000
Net Stock Activity-25.08M-46.32M-246.67M-186.08M-77.37M-137.8M-6.48M-6.59M-24.52M-22.61M
Debt Issuance (Net)1000K1000K-1000K-1000K-1000K-1000K-1000K1000K-1000K-3M
Other Financing1.2B509.38M420.3M-1.9B1.62B1.95B4.56B1.15B2.21B2.83B
Net Change in Cash
168.55M▲ 0%
73.78M▼ 56.2%
160.68M▲ 117.8%
-287.95M▼ 279.2%
127.3M▲ 144.2%
309.47M▲ 143.1%
-404.06M▼ 230.6%
302.37M▲ 174.8%
95.78M▼ 68.3%
325.73M▲ 0%
Exchange Rate Effect002K01K00000
Cash at Beginning473.69M642.23M716.02M876.7M588.74M716.05M1.03B621.46M923.82M1.26B
Cash at End642.23M716.02M876.7M588.74M716.05M1.03B621.46M923.82M1.02B1.29B
Interest Paid0000000000
Income Taxes Paid0000000000
Free Cash Flow
537.5M▲ 0%
411M▼ 23.5%
430.71M▲ 4.8%
506.8M▲ 17.7%
495.34M▼ 2.3%
477.27M▼ 3.6%
783.86M▲ 64.2%
380.93M▼ 51.4%
535.26M▲ 40.5%
604.74M▲ 0%
FCF Growth %117.99%-23.54%4.8%17.67%-2.26%-3.65%64.24%-51.4%40.52%44.16%

ASBA Banking Ratios

Associated Banc-Corp (ASBA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
Return on Equity (ROE)6.28%6.91%9.15%8.04%7.15%8.17%8.77%4.47%2.81%3.77%
Return on Assets (ROA)0.67%0.73%1%0.94%0.87%0.97%0.95%0.46%0.29%0.4%
Net Interest Margin0%0%0%0%0%0%0%-2.09%-2.5%-0.74%
Efficiency Ratio70.95%67.67%66.52%66.14%70.82%61.94%61.91%68.21%75.39%43.21%
Equity / Assets10.61%10.62%11.25%12.11%12.24%11.47%10.19%10.18%10.7%10.51%
Book Value / Share20.6121.0722.2824.2226.6326.4826.6827.6730.0328.04
NII Growth---------25.74%52.28%
Dividend Payout40.55%39.24%36.21%41.03%45.52%40.17%38.2%77.09%113.03%10.12%

ASBA SEC Filings & Documents

Associated Banc-Corp (ASBA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 1, 2026·SEC

Material company update

Mar 12, 2026·SEC

Material company update

Feb 9, 2026·SEC

10-K Annual Reports

1
FY 2026

Feb 12, 2026·SEC

10-Q Quarterly Reports

2
FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 29, 2025·SEC

ASBA Frequently Asked Questions

Associated Banc-Corp (ASBA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Associated Banc-Corp (ASBA) saw revenue decline by 6.6% over the past year.

Yes, Associated Banc-Corp (ASBA) is profitable, generating $176.0M in net income for fiscal year 2024 (12.9% net margin).

Dividend & Returns

Yes, Associated Banc-Corp (ASBA) pays a dividend with a yield of 3.63%. This makes it attractive for income-focused investors.

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

Industry Metrics

Associated Banc-Corp (ASBA) has a net interest margin (NIM) of -2.5%. NIM has been under pressure due to interest rate environment.

Associated Banc-Corp (ASBA) has an efficiency ratio of 75.4%. This is higher than peers, suggesting room for cost optimization.

Explore More ASBA

Associated Banc-Corp (ASBA) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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