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Associated Banc-Corp

Logo: Associated Banc-Corp, Public domain, via Wikimedia Commons4

American bank holding company

Associated Banc-Corp is a U.S. regional bank holding company providing retail banking, commercial banking, commercial real estate lending, private banking and specialized financial services. Headquartered in Green Bay, Wisconsin, Associated is a Midwest bank with from more than 220 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1861Founded1

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  • TickerASB on NYSE1
  • Industryfinancial services1
  • HeadquartersGreen Bay1
  • Websitewww.associatedbank.com
  • Incorporated inWI5
  • Business address433 Main Street, Green Bay, Wi 543015
  • Filer categoryLarge accelerated filer5

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Associated Banc-Corp is a U.S. regional bank holding company providing retail banking, commercial banking, commercial real estate lending, private banking and specialized financial services. Headquartered in Green Bay, Wisconsin, Associated is a Midwest bank with from more than 220 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

16.6%Net margin7
-11.0%Revenue growth, 20238
4.4%Return on equity7
0.42×Debt to equity8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Credit and Debit Card brought in 69% of the revenue Associated Banc-Corp broke down this way in fiscal 2025.

  1. Credit and Debit Card$46.6M769%down 1% from 2024
  2. Financial Service, Other$21.2M731%up 9% from 2024
Products and services by year
Products and services202320242025
Credit and Debit Card$45.0M$46.9M$46.6M
Financial Service, Other$17.3M$19.5M$21.2M

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Interest82¢$918.5M
  • Income tax2¢$23.1M
  • Profit16¢$183.0M

Out of $1.1B in revenue.87

Where each dollar of operating cash went, fiscal 2023

  • Dividends paid29¢$129.5M
  • Kept or used elsewhere71¢$313.2M

Out of $442.7M of cash from operations.7

Financial statements

Revenue9108$1.1B in 2023−9% since 2019
0$500.0M$1.0B$1.5B2019: $1.2B$1.2B20192020: $1.3B$1.3B2020+5%2021: $1.1B$1.1B2021−17%2022: $1.2B$1.2B2022+17%2023: $1.1B$1.1B2023−11%
Net income9108117$183.0M in 2023−44% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $326.8M$326.8M20192020: $306.8M$306.8M2020−6%2021: $351.0M$351.0M2021+14%2022: $366.1M$366.1M2022+4%2023: $183.0M$183.0M2023−50%

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-312023-12-31
Interest and Fee Income, Loans and Leases$1.8B$1.8B$1.7B
Interest Income, Securities, Operating, Taxable$288.2M$198.6M$146.0M
Interest Income, Securities, Operating, Tax Exempt$55.6M$58.6M$63.2M
Other Interest and Dividend Income$46.6M$35.3M$28.4M
Interest and Dividend Income, Operating, Total$2.2B$2.1B$2.0B
Interest Expense, Deposits$803.9M$901.8M$673.6M
Interest Expense, Federal Funds Purchased and Securities Sold under Agreements to Repurchase$10.4M$11.8M$12.2M
Interest Expense, Other Short-Term Borrowings$1.0M$17.6M$1.0K
Interest on FHLB Funding$113.3M$98.5M$196.5M
Interest Expense, Long-Term Debt$43.0M$45.8M$36.1M
Interest Expense, Operating and Nonoperating, Total$971.6M$1.1B$918.5M
Interest Income (Expense), Operating, Total$1.2B$1.0B$1.0B
Provision for Loan, Lease, and Other Losses$54.0M$85.0M$83.0M
Interest Income (Expense), after Provision for Loan Loss, Total$1.1B$962.3M$956.6M
Capital Market Fees Net$32.0M$22.1M$24.6M
Fees and Commissions, Mortgage Banking and Servicing$14.5M$10.7M$19.4M
Gain (Loss) on Sale of Mortgage Loans-$7.0M-$130.4M-$136.2M
Bank Owned Life Insurance Income$17.2M$13.5M$10.3M
Gain (Loss) on Disposition of Assets$1.6M-$1.0M$454.0K
Debt Securities, Available-for-Sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment$49.0K-$144.1M-$58.9M
Noninterest Income, Other Operating Income$9.9M$9.3M$9.7M
Noninterest Income, Total$286.4M-$9.4M$63.2M
Labor and Related Expense$521.7M$488.0M$468.4M
Information Technology and Data Processing$110.9M$107.6M$102.0M
Occupancy, Net$55.0M$54.6M$57.2M
Marketing and Advertising Expense$31.6M$28.1M$28.4M
Equipment Expense$20.3M$18.4M$19.7M
Professional Fees$23.9M$21.6M$19.9M
Payments of Loan Costs$8.3M$8.5M$5.4M
Federal Deposit Insurance Corporation Premium Expense$36.7M$38.4M$67.1M
Amortization of Intangible Assets$8.8M$8.8M$8.8M
Loss on prepayments of FHLB advances$0$14.2M$0
Prepayment Fees on Advances, Net$0$14.2M$0
Other Noninterest Expense$38.4M$30.1M$36.8M
Noninterest Expense, Total$855.6M$818.4M$813.7M
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest$577.9M$134.5M$206.1M
Income Tax Expense (Benefit)$103.1M$11.3M$23.1M
Net Income (Loss) Attributable to Parent, Total$474.8M$123.1M$183.0M
Preferred Stock Dividends and Other Adjustments$11.5M$11.5M$11.5M
Net Income (Loss) Available to Common Stockholders, Basic, Total$463.3M$111.6M$171.5M
Earnings Per Share, Basic$2.79$0.73$1.14
Earnings Per Share, Diluted$2.77$0.72$1.13
Weighted Average Number of Shares Outstanding, Basic165.1M shares151.9M shares150.0M shares
Weighted Average Number of Shares Outstanding, Diluted166.6M shares153.3M shares150.9M shares

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The story

The Associated Banc-Corp holding company was formed on May 1, 1970, when three community banks formed a banking alliance that consolidated into Associated Bank. The three founding community banks were: The First National Bank of Neenah, founded in 1861; Kellogg Citizens National Bank, Green Bay, founded 1874; and Manitowoc Savings Bank, founded in 1884.

1989 – Acquired the Associated De Pere Bank of De Pere, Wisconsin

1991 – Acquired Farmers State Bank of Pound, Wisconsin, and F&M Financial Services

1992 – Acquired Wausau Financial and Northeast Wisconsin Financial Services

1993 – Changed name to Associated Bank, NA of Green Bay, Wisconsin

1993 – Acquired First National Bank of Sturgeon Bay of Sturgeon Bay, Wisconsin

1995 – Acquired GN Bancorp of Illinois

1996 – Acquired Mid-American National Bancorp of Illinois

Read the full text

1997 – Acquired Centra Financial of Wisconsin

1997 – Merged with First Financial Corporation of Stevens Point, Wisconsin

1998 – Acquired Citizens Bank, NA of Shawano, Wisconsin

1999 – Acquired Windsor Bancshares of Minnesota

2001 – Changed name to Associated Bank, NA; merged and re-branded existing affiliate banks in Milwaukee, Wisconsin; Neenah, Wisconsin; Manitowoc, Wisconsin; Wausau, Wisconsin; and Madison, Wisconsin

2002 – Acquired Signal Financial Corp. of Minnesota

2003 – Merged and re-branded affiliates: Associated Card Services Bank in Stevens Point, Wisconsin, and Associated Bank Illinois in Rockford, Illinois

2004 – Acquired First Federal Capital Bank of La Crosse, Wisconsin, expanding into Western and Southwest Wisconsin

2005 – Merged and re-branded affiliate banks in Minneapolis and in Chicago.

2005 – Acquired State Financial Services of Hales Corners, Wisconsin, and expanded to Northern Illinois

2007 – Acquired First National Bank of Hudson, Wisconsin

2008 – Received $525 Million share of the $700 Billion Troubled Asset Relief Program (TARP) fund

2009 – Appointed William R. Hutchinson as Chairman of the Board of Directors and Philip B. Flynn as President and CEO

2010 – Issued $435 million of common stock in an offering to support continued growth

2011 – Repaid $525 Million share of the $700 Billion Troubled Asset Relief Program (TARP) fund

2012 – Redeveloped the Downtown Green Bay Regency building, to create the new Associated Center as its headquarters

2013 – Named one of the 100 Most Trustworthy Companies by Forbes

2014 – Joined the New York Stock Exchange and began trading under the ticker "ASB"

2015 – Acquired Ahmann & Martin Co., a risk and employee benefits consulting firm

2016 – Purchased the 28-story Milwaukee Center office building to allow for future expansion of the company

2017 – Acquired Whitnell & Co., a wealth management family services firm

2018 – Acquired Bank Mutual of Milwaukee

2018 – Acquired Diversified Insurance Solutions, a Milwaukee based employee benefits insurance agency

2018 – Acquired Anderson Insurance & Investment Agency, a Minneapolis based workers compensation insurance agency

2019 – Acquired 32 Wisconsin branches from The Huntington National Bank

2020 – Acquired the First National Bank of Staunton, Illinois

2020 – Appointed John (Jay) B. Williams as Chairman of the Board of Directors

2020 – Sold Associated Benefits & Risk Consulting (ABRC) to USI Insurance Services LLC (USI) for $266 million

2021 – Appointed Andy Harmening as President and CEO

2022 – Consolidated 13 branches in Wisconsin and Illinois; announced first "micro branch" (600 square feet (56 m2)) following new micro office model

2025 – Acquired American National Bank in Omaha, Nebraska

From Wikipedia’s article on Associated Banc-Corp, shared under CC BY-SA 4.0.6

Leadership

Who has led Associated Banc-Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Paul S. Beideman2003–2009
  2. John P. Evans2005
  3. Philip B. Flynn2009–2021
  4. Andrew J. Harmening2021–now

Chair

  1. Robert C. Gallagher2003–2008
  2. Paul S. Beideman2007–2009

President

  1. Gordon J. Weber2003–2004
  2. Paul S. Beideman2003–2007
  3. John P. Evans2005
  4. Lisa B. Binder2007–2009
  5. Philip B. Flynn2009–2021
  6. Andrew J. Harmening2021–now

Chief financial officer

  1. Joseph B. Selner2009
  2. Moral-Niles Christopher Del2014–2022
  3. Derek S. Meyer2022–now

Chief operating officer

  1. Lisa B. Binder2007–2009
197019801990200020102020
Board members and other officers (81)

Products and brands

  • retail banking

Listed on Wikidata.1

During the 1990s and 2000s, Associated Banc-Corp merged all of its affiliated banks into Associated Bank, N.A., a wholly owned subsidiary.

Subsidiaries of Associated Bank, N.A. include: Associated Trust Company, N.A.; Associated Investment Corp; and Associated Community Development, LLC.

From Wikipedia’s article on Associated Banc-Corp, shared under CC BY-SA 4.0.6

Timeline

  1. Apr 30, 2021New chief executive Andrew J. Harmening becomes CEO16
  2. Dec 3, 2009New chief executive Philip B. Flynn becomes CEO17
  3. Jan 27, 2005New chief executive John P. Evans becomes CEO18
  4. Jul 9, 2003New chief executive Paul S. Beideman becomes CEO19
  5. 1861Founded Founded1

Recent filings

  1. Sep 22, 20268-K
  2. Sep 18, 20264 PRIMARY DOCUMENT
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Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

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