Despite significant volatility in earnings, the bank has maintained a stable equity-to-assets ratio of approximately 11% while expanding its investment securities portfolio to $5.5 billion by 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Cash & Short Term Investments | 23.22B | 5.97B | 5.13B | 4.09B | 464.76M | 1.03B | 716.05M | 400.23M | 782.78M | 643.04M | 642.23M | 473.69M | 1.03B | 602.25M | 737.87M |
| Cash & Due from Banks | 465.32M | 574.7M | 544.06M | 498.73M | 464.76M | 1.03B | 716.05M | 400.23M | 782.78M | 643.04M | 642.23M | 473.69M | 1.03B | 602.25M | 737.87M |
| Short Term Investments | 5.51B | 5.4B | 4.58B | 3.6B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 5.51B | 5.4B | 4.58B | 3.6B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments Growth % | 58.42% | 17.81% | 27.23% | - | - | - | - | - | - | - | - | - | - | - | - |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivables | 161.02M | 161.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 1.13B | 1.13B | 1.14B | 1.15B | 1.23B | 1.22B | 1.22B | 1.33B | 1.31B | 1.05B | 1.05B | 1.05B | 996.75M | 1B | 990.34M |
| Goodwill | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B | 1.11B | 1.18B | 1.17B | 976.24M | 971.95M | 968.84M | 929.17M | 929.17M | 929.17M |
| Intangible Assets | 20.65M | 22.85M | 31.66M | 40.47M | 126.63M | 112.95M | 110.22M | 155.61M | 144.03M | 73.96M | 76.85M | 77.8M | 67.58M | 74.46M | 61.18M |
| PP&E (Net) | 376.76M | 381.62M | 379.09M | 372.98M | 377.36M | 385.32M | 419.88M | 437.47M | 363.23M | 330.96M | 330.31M | 267.61M | 274.69M | 270.89M | 253.96M |
| Other Assets | 0 | 0 | 0 | 0 | 37.33B | 32.48B | 31.06B | 30.22B | 31.16B | 28.46B | 27.12B | 25.92B | 24.52B | 22.35B | -1.24B |
| Total Current Assets | 6.14B | 6.13B | 5.29B | 4.25B | 464.76M | 1.03B | 716.05M | 400.23M | 782.78M | 643.04M | 642.23M | 473.69M | 1.03B | 602.25M | 737.87M |
| Total Non-Current Assets | 1.5B | 1.51B | 1.52B | 1.52B | 38.94B | 34.08B | 32.7B | 31.99B | 32.83B | 29.84B | 28.5B | 27.24B | 25.79B | 23.62B | 1.24B |
| Total Assets | 45.59B | 45.2B | 43.02B | 41.02B | 39.41B | 35.1B | 33.42B | 32.39B | 33.62B | 30.48B | 29.14B | 27.71B | 26.82B | 24.23B | 23.49B |
| Asset Growth % | 21.35% | 5.07% | 4.89% | 4.09% | 12.25% | 5.04% | 3.19% | -3.65% | 10.27% | 4.61% | 5.15% | 3.32% | 10.71% | 3.15% | - |
| Return on Assets (ROA) | 0.83% | 1.08% | 0.29% | 0.46% | 0.95% | 0.97% | 0.87% | 0.94% | 1% | 0.73% | 0.67% | 0.66% | 0.72% | 0.76% | 0.74% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 0 | 0 | 792.4M | 1.74B | 1.44B | 1.87B | 2.18B | 3.21B | 2.11B | 1.28B | 2.79B | 2.71B | 3.97B | 3.13B | 0 |
| Net Debt | -465.32M | -574.7M | 248.34M | 1.24B | 977.7M | 844.69M | 1.47B | 2.81B | 1.32B | 632.44M | 2.15B | 2.23B | 2.93B | 2.53B | -737.87M |
| Long-Term Debt | 0 | 0 | 792.4M | 1.74B | 1.44B | 1.87B | 2.18B | 3.21B | 2.11B | 1.28B | 2.79B | 2.71B | 3.97B | 3.13B | 1.09B |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0 | 40.23B | 37.63B | 35.1B | 33.95B | 29.21B | 27.15B | 25.26B | 27.73B | 25.97B | 23.25B | 22.07B | 20.06B | 18.2B | -1.09B |
| Total Current Liabilities | 0 | 0 | 0 | 0 | 317.8M | 90.55M | 207.27M | 294.46M | 367.82M | 292.91M | 226.65M | 195.8M | 188.8M | 164.47M | 167.08M |
| Total Non-Current Liabilities | 0 | 40.23B | 38.42B | 36.84B | 35.07B | 30.99B | 29.12B | 28.17B | 29.47B | 26.95B | 25.82B | 24.58B | 23.83B | 21.17B | 1.09B |
| Total Liabilities | 40.6B | 40.23B | 38.42B | 36.84B | 35.39B | 31.08B | 29.33B | 28.46B | 29.83B | 27.25B | 26.05B | 24.77B | 24.02B | 21.34B | 20.55B |
| Total Equity | 5B | 4.78B | 4.61B | 4.17B | 4.02B | 4.02B | 4.09B | 3.92B | 3.78B | 3.24B | 3.09B | 2.94B | 2.8B | 2.89B | 2.94B |
| Equity Growth % | 29.06% | 3.81% | 10.34% | 3.95% | -0.23% | -1.62% | 4.3% | 3.74% | 16.79% | 4.73% | 5.25% | 4.89% | -3.15% | -1.54% | - |
| Equity / Assets (Capital Ratio) | 10.96% | 10.58% | 10.7% | 10.18% | 10.19% | 11.47% | 12.24% | 12.11% | 11.25% | 10.62% | 10.61% | 10.6% | 10.44% | 11.93% | 12.5% |
| Return on Equity (ROE) | 7.76% | 10.12% | 2.81% | 4.47% | 8.77% | 8.17% | 7.15% | 8.04% | 9.15% | 6.91% | 6.28% | 6.25% | 6.46% | 6.25% | 5.89% |
| Book Value per Share | 30.21 | 28.70 | 30.03 | 27.67 | 26.68 | 26.48 | 26.63 | 24.22 | 22.28 | 21.07 | 20.61 | 19.50 | 17.69 | 17.44 | 17.04 |
| Tangible BV per Share | - | 21.93 | 22.62 | 20.07 | 18.50 | 18.47 | 18.69 | 16.00 | 14.54 | 14.24 | 13.62 | 12.55 | 11.40 | 11.39 | 11.29 |
| Common Stock | 1.89M | 1.89M | 1.89M | 1.75M | 1.75M | 1.75M | 1.75M | 1.75M | 1.75M | 1.62M | 1.63M | 1.64M | 1.67M | 1.75M | 1.75M |
| Additional Paid-in Capital | 0 | 0 | 2.05B | 1.71B | 1.71B | 1.71B | 1.72B | 1.72B | 1.71B | 1.34B | 1.46B | 1.46B | 1.48B | 1.62B | 0 |
| Retained Earnings | 3.3B | 3.23B | 2.92B | 2.95B | 2.9B | 2.67B | 2.46B | 2.38B | 2.18B | 1.93B | 1.7B | 1.59B | 1.5B | 1.39B | 1.28B |
| Accumulated OCI | -44.51M | -7.57M | -74.42M | -171.1M | -272.8M | -10.32M | 12.62M | -33.18M | -124.97M | -62.76M | -54.68M | -32.62M | -4.85M | -24.24M | 0 |
| Treasury Stock | 0 | 0 | -482.63M | -512.42M | -525.19M | -546.23M | -456.2M | -400.46M | -246.64M | -134.76M | -170.83M | -204.92M | -239.04M | -158.58M | 0 |
| Preferred Stock | 0 | 0 | 194.11M | 194.11M | 194.11M | 193.19M | 353.51M | 256.72M | 256.72M | 159.93M | 159.93M | 121.38M | 59.73M | 61.86M | 63.27M |
Negative Net Interest Margin
According to recent financial statements, Associated Banc-Corp has expanded its total assets from $41.0 billion in 2023Q4 to $45.6 billion in 2026Q1, yet this growth appears disconnected from core profitability as the bank struggles with persistent negative net interest income and volatile credit loss provisioning.
The expansion of the balance sheet suggests a strategic push for scale, but the lack of corresponding positive net interest income indicates that this growth may be dilutive to shareholder value. Investors should monitor whether this asset accumulation is driven by lower-yielding securities or higher-risk loan segments that fail to cover the bank's cost of funding.
Based on reported figures, the bank has maintained a consistent equity-to-assets ratio of approximately 11% throughout the 2024-2026 period, suggesting a stable regulatory capital buffer despite significant fluctuations in quarterly net income and the substantial negative provisions for credit losses recorded in recent reporting cycles.
While the 11% equity-to-assets ratio appears adequate on the surface, the underlying volatility in earnings suggests that this capital base is subject to frequent adjustments from credit loss provisioning. The bank's ability to maintain this ratio while navigating negative net interest margins warrants further investigation into the quality of its capital generation.
As reported in financial filings, the bank's investment securities portfolio grew from zero in 2024Q1 to $5.5 billion by 2026Q1, indicating a shift toward deploying excess liquidity into interest-earning assets to offset the ongoing challenges within the core loan book and net interest margin environment.
The rapid buildup of the investment securities portfolio suggests a tactical move to improve asset sensitivity, yet it also exposes the bank to duration risk in a volatile interest rate environment. This reliance on securities to bolster the balance sheet may indicate limited organic loan demand or a strategic pivot away from traditional lending risks.
Based on the provided data, the persistent negative net interest margin, which reached -0.6% in 2025Q1, suggests a fundamental mismatch between the bank's funding costs and its asset yields that may not be fully captured by standard leverage or capital adequacy metrics alone.
The structural nature of this margin compression implies that the bank's funding base may be more rate-sensitive than historically assumed, or that its asset portfolio is failing to reprice effectively. This warrants caution, as the bank's reliance on non-interest income and accounting adjustments to mask core operational weakness may be reaching a limit.
Quick answers to the most common questions about buying ASBA stock.
As of 2025, Associated Banc-Corp (ASBA) had total assets of $45.20B including $6.13B in current assets.
Associated Banc-Corp (ASBA) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Associated Banc-Corp (ASBA) has total shareholders' equity (book value) of $4.78B ($28.70 book value per share). Book value represents the net worth of the company belonging to common stock holders.