Associated Banc-Corp Reports Second Quarter 2026 Earnings of $0.63 Per Common Share, or $0.73 Per Common Share Excluding Nonrecurring Items Recognized During the Quarter¹

Associated Banc-Corp Reports Second Quarter 2026 Earnings of $0.63 Per Common Share, or $0.73 Per Common Share Excluding Nonrecurring Items Recognized During the Quarter¹ Results fueled by sustained organic growth trends, ongoing integration of American National Corporation. , /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income available to common equity ("earnings") of $121 million, or $0.63 per common share, for the quarter ended June 30, 2026. These amounts compare to earnings of $117 million, or $0.70 per common share, for the quarter ended March 31, 2026 and earnings of $108 million, or $0.65 per common share, for the quarter ended June 30, 2025. The Company's results for the quarter ended June 30, 2026 were impacted by several nonrecurring expenses associated with the acquisition of American National Corporation that closed on April 1, 2026. Excluding the impact of these nonrecurring items, the Company reported adjusted earnings of $140 million, or $0.73 per common share1. "Organic growth continues to be a primary focus for our company, and midway through 2026, we've maintained our momentum in several important ways," said President & CEO Andy Harmening. "Through June 30th, we've seen double-digit C&I growth, excellent household growth, and strong, improving annual deposit growth--all while maintaining our disciplined approach to expense management and credit. We've also been pleased with the American National partnership, which has largely come in as expected." "As we look to the back half of 2026 and into 2027, we expect to maintain our growth trajectory through steady execution of organic initiatives and the successful integration of American National Corporation. We look forward to demonstrating our ability to deliver profitable growth sustainably over time." Second Quarter 2026 Highlights Total period end loans of $36.5 billion (+15% vs. 1Q 2026; +19% vs. 2Q 2025)Total period end commercial & industrial loans of $13.8 billion (+11% vs. 1Q 2026; +22% vs. 2Q 2025)Total period end deposits of $39.9 billion (+12% vs. 1Q 2026; +17% vs. 2Q 2025)Total period end core customer deposits1 of $34.2 billion (+12% vs. 1Q 2026; +21% vs. 2Q 2025)Net interest income of $370 million (+20% vs. 1Q 2026; +23% vs. 2Q 2025)Net interest margin of 3.17%Noninterest income of $80 millionNoninterest expense of $272 millionProvision for credit losses of $19 millionAllowance for credit losses on loans / total loans of 1.36%Net charge offs / average loans (annualized) of 0.26% 1 This is a non-GAAP financial measure. See financial tables for a reconciliation of non-GAAP financial measures to GAAP financial measures. Loans Second quarter 2026 average total loans of $35.9 billion increased 15%, or $4.6 billion, from the prior quarter and increased 18%, or $5.4 billion, from the same period last year. With respect to second quarter 2026 average balances by loan category: Commercial and business lending increased $1.8 billion from the prior quarter and increased $2.7 billion from the same period last year to $14.8 billion. Commercial real estate lending increased $1.6 billion from the prior quarter and increased $1.5 billion from the same period last year to $8.9 billion. Consumer lending increased $1.2 billion from the prior quarter and increased $1.2 billion from the same period last year to $12.2 billion. Second quarter 2026 period end total loans of $36.5 billion increased 15%, or $4.7 billion, from the prior quarter and increased 19%, or $5.9 billion, from the same period last year. With respect to second quarter 2026 period end balances by loan category: Commercial and business lending increased $1.8 billion from the prior quarter and increased $2.9 billion from the same period last year to $15.3 billion.Commercial real estate lending increased $1.7 billion from the prior quarter and increased $1.7 billion from the same period last year to $9.0 billion.Consumer lending increased $1.2 billion from the prior quarter and increased $1.2 billion from the same period last year to $12.1 billion. We now expect 2026 period end loan growth of 18% to 20% as compared to Associated's standalone results for the year ended December 31, 2025. Deposits Second quarter 2026 average deposits of $40.4 billion increased 15%, or $5.2 billion, from the prior quarter and increased 18%, or $6.2 billion, from the same period last year. With respect to second quarter 2026 average balances by deposit category: Noninterest-bearing demand deposits increased $1.1 billion from the prior quarter and increased $1.4 billion from the same period last year to $7.1 billion.Savings increased $514 million from the prior quarter and increased $824 million from the same period last year to $6.0 billion.Interest-bearing demand deposits increased $834 million from the prior quarter and increased $1.0 billion from the same period last year to $8.7 billion.Money market deposits increased $1.6 billion from the prior quarter and increased $1.7 billion from the same period last year to $7.6 billion.Brokered CDs increased $558 million from the prior quarter and decreased $4 million from the same period last year to $4.1 billion.Other time deposits increased $711 million from the prior quarter and increased $1.2 billion from the same period last year to $4.9 billion.Network transaction deposits decreased $38 million from the prior quarter and increased $36 million from the same period last year to $1.9 billion.Core customer deposits[1] increased $4.7 billion from the prior quarter and increased $6.1 billion from the same period last year to $34.4 billion. Second quarter 2026 period end deposits of $39.9 billion increased 12%, or $4.2 billion, from the prior quarter and increased 17%, or $5.8 billion, from the same period last year. With respect to second quarter 2026 period end balances by deposit category: Noninterest-bearing demand deposits increased $783 million from the prior quarter and increased $1.1 billion from the same period last year to $6.9 billion.Savings increased $511 million from the prior quarter and increased $880 million from the same period last year to $6.2 billion.Interest-bearing demand deposits increased $733 million from the prior quarter and increased $1.2 billion from the same period last year to $8.7 billion.Money market deposits increased $1.4 billion from the prior quarter and increased $1.7 billion from the same period last year to $7.6 billion.Brokered CDs increased $371 million from the prior quarter and decreased $138 million from the same period last year to $3.9 billion.Other time deposits increased $298 million from the prior quarter and increased $980 million from the same period last year to $4.8 billion.Network transaction deposits increased $77 million from the prior quarter and increased $31 million from the same period last year to $1.8 billion.Core customer deposits1 increased $3.8 billion from the prior quarter and increased $5.9 billion from the same period last year to $34.2 billion. 1 This is a non-GAAP financial measure. See financial tables for a reconciliation of non-GAAP financial measures to GAAP financial measures. We continue to expect 2026 period end total deposit growth of 17% to 19% and period end core customer deposit growth of 19% to 21% as compared to Associated's standalone results for the year ended December 31, 2025. Net Interest Income and Net Interest Margin Second quarter 2026 net interest income of $370 million increased $63 million from the prior quarter and increased $70 million from the same period last year. The net interest margin of 3.17% was a 14 basis point increase from the prior quarter and a 13 basis point increase from the same period last year. The average yield on total loans for the second quarter of 2026 increased 14 basis points from the prior quarter and decreased 22 basis points from the same period last year to 5.67%.The average cost of total interest-bearing liabilities for the second quarter of 2026 decreased 1 basis point from the prior quarter and decreased 36 basis points from the same period last year to 2.66%.The net free funds benefit for the second quarter of 2026 increased 2 basis points from the prior quarter and decreased 4 basis points from the same period last year to 0.52%. We expect 2026 net interest income growth of 19% to 21% as compared to Associated's standalone results for the year ended December 31, 2025. Noninterest Income Second quarter 2026 total noninterest income of $80 million increased $5 million from the prior quarter and increased $13 million from the same period last year. With respect to second quarter 2026 noninterest income line items: Card-based fees increased $3 million from the prior quarter and increased $3 million from the same period last year.Service charges and deposit account fees increased $2 million from the prior quarter and increased $3 million from the same period last year.Capital markets, net increased $1 million from the prior quarter and increased $2 million from the same period last year.Wealth management fees increased $1 million from the prior quarter and increased $3 million from the same period last year.Mortgage banking, net decreased $3 million from the prior quarter and decreased $1 million from the same period last year. We continue to expect total noninterest income growth of 8% to 10% in 2026 as compared to Associated's standalone results for the year ended December 31, 2025. Noninterest Expense Second quarter 2026 total noninterest expense of $272 million increased $53 million from the prior quarter and increased $63 million from the same period last year. Second quarter 2026 total noninterest expense included $24 million of nonrecurring costs associated with the acquisition of American National Corporation, which closed on April 1, 2026. With respect to second quarter 2026 noninterest expense line items: Personnel expense increased $26 million from the prior quarter and increased $34 million from the same period last year.Legal and professional expense increased $11 million from the prior quarter and increased $11 million from the same period last year.Other intangible amortization increased $5 million from the prior quarter and increased $5 million from the same period last year.Technology expense increased $3 million from the prior quarter and increased $6 million from the same period last year. We expect 2026 noninterest expense growth of 20% to 21% as compared to Associated's standalone results for the year ended December 31, 2025. This figure includes nonrecurring costs incurred in connection with the acquisition of American National Corporation. Taxes Second quarter 2026 income tax expense was $36 million, compared to $33 million of income tax expense in the prior quarter and $28 million of income tax expense in the same period last year. The effective tax rate for the second quarter of 2026 was 22.37%, compared to 21.75% in the prior quarter and 20.34% in the same period last year. We continue to expect the annual effective tax rate to be between 19% and 21% in 2026. Credit Second quarter 2026 provision for credit losses on loans was $19 million, compared to a provision of $11 million in the prior quarter and a provision of $18 million in the same period last year. With respect to second quarter 2026 credit quality: Nonaccrual loans of $150 million increased $39 million from the prior quarter and increased $37 million from the same period last year. The nonaccrual loans to total loans ratio was 0.41% in the second quarter, up from 0.35% in the prior quarter and up from 0.37% in the same period last year.Second quarter 2026 net charge offs of $23 million increased compared to net charge offs of $5 million in the prior quarter and increased compared to net charge offs of $13 million in the same period last year.The allowance for credit losses on loans (ACLL) of $494 million increased $69 million compared to the prior quarter and increased $83 million compared to the same period last year. The ACLL to total loans ratio was 1.36% in the second quarter, up from 1.34% in the prior quarter and up from 1.35% in the same period last year. In 2026, we continue to expect to adjust provision to reflect changes to risk grades, economic conditions, loan volumes, and other indications of credit quality. Capital The Company's capital position remains strong, with a CET1 capital ratio of 10.47% at June 30, 2026. The Company's capital ratios continue to be in excess of the Basel III "well-capitalized" regulatory benchmarks on a fully phased in basis. SECOND QUARTER 2026 EARNINGS RELEASE CONFERENCE CALL The Company will host a conference call for investors and analysts at 4:00 p.m. Central Time (CT) today, July 23, 2026. Interested parties can access the live webcast of the call through the Investor Relations section of the Company's website, http://investor.associatedbank.com. Parties may also dial into the call at 877-407-8037 (domestic) or 201-689-8037 (international) and request the Associated Banc-Corp second quarter 2026 earnings call. The second quarter 2026 financial tables with an accompanying slide presentation will be available on the Company's website just prior to the call. An audio archive of the webcast will be available on the Company's website approximately fifteen minutes after the call is over. ABOUT ASSOCIATED BANC-CORP Associated Banc-Corp (NYSE: ASB) has total assets of $52 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations throughout Wisconsin, Illinois, Iowa, Minnesota, Missouri and Nebraska. The Company also operates loan production offices in Indiana, Kansas, Michigan, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com. FORWARD-LOOKING STATEMENTS Statements made in this presentation which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management's plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Such forward-looking statements may be identified by the use of words such as "believe," "expect," "anticipate," "plan," "estimate," "should," "intend," "target," "outlook," "project," "guidance," "forecast," or similar expressions. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements. Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the Company's most recent Form 10-K and subsequent Form 10-Qs and other SEC filings, and such factors are incorporated herein by reference. NON-GAAP FINANCIAL MEASURES This press release and related materials may contain references to measures which are not defined in generally accepted accounting principles ("GAAP"). Information concerning these non-GAAP financial measures can be found in the financial tables. Management believes these measures are meaningful because they reflect adjustments commonly made by management, investors, regulators, and analysts to evaluate the adequacy of earnings per common share, provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. Associated Banc-Corp Consolidated Balance Sheets (Unaudited) (Dollars in thousands) June 30, 2026 March 31, 2026 Sequential Quarter Change December 31, 2025 September 30, 2025 June 30, 2025 Comparable Quarter Change Assets Cash and due from banks $ 548,057 $ 465,318 $ 82,739 $ 574,698 $ 490,431 $ 521,167 $ 26,890 Interest-bearing deposits in other financial institutions 1,268,379 920,684 347,695 1,144,123 802,251 738,938 529,441 Federal funds sold and securities purchased under agreements to resell 14,355 175 14,180 1,400 90 — 14,355 Available for sale (AFS) investment securities, net, at fair value 6,366,586 5,514,456 852,130 5,397,563 5,217,278 5,036,508 1,330,078 Held to maturity (HTM) investment securities, net, at amortized cost 3,510,726 3,570,843 (60,117) 3,602,519 3,636,080 3,672,101 (161,375) Equity securities 29,960 26,109 3,851 26,060 26,000 25,912 4,048 Regulatory stocks, at cost 329,436 290,189 39,247 252,514 251,642 278,356 51,080 Residential loans held for sale 94,490 87,461 7,029 72,499 74,563 96,804 (2,314) Commercial loans held for sale 15,000 — 15,000 — — 8,406 6,594 Loans 36,467,040 31,798,164 4,668,876 31,163,614 30,951,964 30,607,605 5,859,435 Allowance for loan losses (443,729) (385,756) (57,973) (378,068) (378,341) (376,515) (67,214) Loans, net 36,023,311 31,412,408 4,610,903 30,785,546 30,573,623 30,231,091 5,792,220 Tax credit and other investments 235,536 230,954 4,582 236,657 245,239 247,111 (11,575) Premises and equipment, net 449,003 376,760 72,243 381,624 384,139 377,372 71,631 Bank and corporate owned life insurance 717,116 694,765 22,351 694,452 693,511 691,470 25,646 Goodwill 1,147,081 1,104,992 42,089 1,104,992 1,104,992 1,104,992 42,089 Other intangible assets, net 116,953 20,647 96,306 22,849 25,052 27,255 89,698 Mortgage servicing rights, net 87,683 87,599 84 86,337 85,063 85,245 2,438 Interest receivable 181,916 161,021 20,895 161,118 168,451 168,627 13,289 Other assets 676,918 629,359 47,559 657,645 677,458 682,373 (5,455) Total assets $ 51,812,506 $ 45,593,740 $ 6,218,766 $ 45,202,596 $ 44,455,863 $ 43,993,729 $ 7,818,777 Liabilities and stockholders' equity Noninterest-bearing demand deposits $ 6,908,338 $ 6,125,067 $ 783,271 $ 6,126,632 $ 5,906,251 $ 5,782,487 $ 1,125,851 Interest-bearing deposits 33,022,917 29,606,698 3,416,219 29,425,976 28,975,602 28,365,079 4,657,838 Total deposits 39,931,255 35,731,765 4,199,490 35,552,608 34,881,853 34,147,565 5,783,690 Federal funds purchased and securities sold under agreements to repurchase 529,276 395,652 133,624 307,864 399,665 75,585 453,691 FHLB advances 4,574,681 3,421,762 1,152,919 3,268,094 3,220,679 3,879,489 695,192 Senior and subordinated debt 591,080 592,629 (1,549) 594,276 594,074 593,530 (2,450) Allowance for unfunded commitments 50,744 39,276 11,468 41,276 36,276 35,276 15,468 Accrued expenses and other liabilities 497,347 414,784 82,563 463,131 455,019 481,503 15,844 Total liabilities 46,174,383 40,595,868 5,578,515 40,227,249 39,587,565 39,212,948 6,961,435 Stockholders' equity Preferred equity 194,112 194,112 — 194,112 194,112 194,112 — Common equity 5,444,011 4,803,760 640,251 4,781,235 4,674,186 4,586,669 857,342 Total stockholders' equity 5,638,123 4,997,872 640,251 4,975,347 4,868,298 4,780,781 857,342 Total liabilities and stockholders' equity $ 51,812,506 $ 45,593,740 $ 6,218,766 $ 45,202,596 $ 44,455,863 $ 43,993,729 $ 7,818,777 Numbers may not recalculate due to rounding conventions. Associated Banc-Corp Consolidated Statements of Income (Unaudited) Comparable Quarter Year to Date (YTD) Comparable YTD (Dollars and shares in thousands, except per share data) 2Q26 2Q25 Dollar Change Percentage Change June 2026 June 2025 Dollar Change Percentage Change Interest income Interest and fees on loans $ 506,528 $ 447,781 $ 58,747 13 % $ 933,516 $ 881,080 $ 52,436 6 % Interest and dividends on investment securities Taxable 88,347 71,174 17,173 24 % 164,023 140,962 23,061 16 % Tax-exempt 13,725 13,902 (177) (1) % 27,463 27,858 (395) (1) % Other interest 14,694 12,679 2,015 16 % 26,335 21,921 4,414 20 % Total interest income 623,294 545,536 77,758 14 % 1,151,337 1,071,821 79,516 7 % Interest expense Interest on deposits 203,765 197,656 6,109 3 % 379,038 406,796 (27,758) (7) % Interest on federal funds purchased and securities sold under agreements to repurchase 4,085 2,004 2,081 104 % 7,818 5,626 2,192 39 % Interest on FHLB advances 35,052 34,889 163 — % 66,621 50,979 15,642 31 % Interest on senior and subordinated debt 10,163 10,700 (537) (5) % 20,326 21,785 (1,459) (7) % Interest on other interest-bearing liabilities 190 287 (97) (34) % 306 695 (389) (56) % Total interest expense 253,255 245,536 7,719 3 % 474,109 485,881 (11,772) (2) % Net interest income 370,039 300,000 70,039 23 % 677,228 585,940 91,288 16 % Provision for credit losses 19,388 17,996 1,392 8 % 30,389 30,999 (610) (2) % Net interest income after provision for credit losses 350,651 282,004 68,647 24 % 646,839 554,941 91,898 17 % Noninterest income Wealth management fees 26,217 23,025 3,192 14 % 51,435 45,522 5,913 13 % Service charges and deposit account fees 15,863 13,147 2,716 21 % 29,916 25,961 3,955 15 % Card-based fees 14,161 11,200 2,961 26 % 25,740 21,642 4,098 19 % Other fee-based revenue 5,758 4,995 763 15 % 10,623 10,245 378 4 % Capital markets, net 7,476 5,765 1,711 30 % 14,018 10,110 3,908 39 % Mortgage banking, net 2,777 4,213 (1,436) (34) % 8,888 8,035 853 11 % Loss on mortgage portfolio sale — — — N/M — (6,976) 6,976 (100) % Bank and corporate owned life insurance 4,615 4,135 480 12 % 8,430 9,339 (909) (10) % Asset gains (losses), net 789 (1,735) 2,524 N/M 1,629 (2,613) 4,242 N/M Investment securities gains, net 35 7 28 N/M 6 11 (5) (45) % Other 2,707 2,226 481 22 % 5,571 4,477 1,094 24 % Total noninterest income 80,398 66,977 13,421 20 % 156,256 125,754 30,502 24 % Noninterest expense Personnel 161,168 126,994 34,174 27 % 296,341 250,890 45,451 18 % Technology 32,867 26,508 6,359 24 % 62,603 53,646 8,957 17 % Occupancy 14,091 12,644 1,447 11 % 27,817 28,025 (208) (1) % Business development and advertising 8,548 7,748 800 10 % 16,374 14,134 2,240 16 % Equipment 5,423 4,494 929 21 % 11,033 9,021 2,012 22 % Legal and professional 17,454 6,674 10,780 162 % 24,176 12,757 11,419 90 % Loan and foreclosure costs 1,552 2,705 (1,153) (43) % 3,259 5,299 (2,040) (38) % FDIC assessment 10,595 9,708 887 9 % 19,432 20,144 (712) (4) % Other intangible amortization 6,894 2,203 4,691 N/M 9,096 4,405 4,691 106 % Other 13,290 9,674 3,616 37 % 20,914 21,648 (734) (3) % Total noninterest expense 271,882 209,352 62,530 30 % 491,045 419,971 71,074 17 % Income before income taxes 159,167 139,629 19,538 14 % 312,050 260,724 51,326 20 % Income tax expense 35,603 28,399 7,204 25 % 68,850 47,808 21,042 44 % Net income 123,564 111,230 12,334 11 % 243,200 212,916 30,284 14 % Preferred stock dividends 2,875 2,875 — — % 5,750 5,750 — — % Net income available to common equity $ 120,689 $ 108,355 $ 12,334 11 % $ 237,450 $ 207,166 $ 30,284 15 % Pre-tax pre-provision income(a) 178,555 157,625 20,930 13 % 342,439 291,723 50,716 17 % Earnings per common share Basic $ 0.64 $ 0.65 $ (0.01) (2) % $ 1.34 $ 1.25 $ 0.09 7 % Diluted $ 0.63 $ 0.65 $ (0.02) (3) % $ 1.33 $ 1.24 $ 0.09 7 % Average common shares outstanding Basic 188,084 164,936 23,148 14 % 176,654 165,081 11,573 7 % Diluted 189,899 166,343 23,556 14 % 178,402 166,506 11,896 7 % N/M = Not meaningful Numbers may not recalculate due to rounding conventions. Prior periods have been adjusted to conform with current period presentation. (a) This is a non-GAAP financial measure. See the non-GAAP financial measures reconciliation below for a reconciliation to GAAP financial measures. Associated Banc-Corp Consolidated Statements of Income (Unaudited) - Quarterly Trend (Dollars and shares in thousands, except per share data) Sequential Quarter 2Q26 1Q26 Dollar Change Percentage Change 4Q25 3Q25 2Q25 Interest income Interest and fees on loans $ 506,528 $ 426,989 $ 79,539 19 % $ 445,687 $ 455,623 $ 447,781 Interest and dividends on investment securities Taxable 88,347 75,676 12,671 17 % 73,511 73,727 71,174 Tax-exempt 13,725 13,738 (13) — % 13,851 13,888 13,902 Other interest 14,694 11,641 3,053 26 % 11,294 13,353 12,679 Total interest income 623,294 528,044 95,250 18 % 544,343 556,591 545,536 Interest expense Interest on deposits 203,765 175,273 28,492 16 % 194,778 202,344 197,656 Interest on federal funds purchased and securities sold under agreements to repurchase 4,085 3,732 353 9 % 2,682 2,107 2,004 Interest on FHLB advances 35,052 31,570 3,482 11 % 26,309 35,965 34,889 Interest on senior and subordinated debt 10,163 10,163 — — % 10,483 10,741 10,700 Interest on other interest-bearing liabilities 190 116 74 64 % 110 212 287 Total interest expense 253,255 220,854 32,401 15 % 234,362 251,369 245,536 Net interest income 370,039 307,190 62,849 20 % 309,981 305,222 300,000 Provision for credit losses 19,388 11,001 8,387 76 % 6,998 16,000 17,996 Net interest income after provision for credit losses 350,651 296,189 54,462 18 % 302,983 289,223 282,004 Noninterest income Wealth management fees 26,217 25,219 998 4 % 25,742 25,315 23,025 Service charges and deposit account fees 15,863 14,054 1,809 13 % 13,827 13,861 13,147 Card-based fees 14,161 11,579 2,582 22 % 12,679 12,308 11,200 Other fee-based revenue 5,758 4,862 896 18 % 5,557 5,414 4,995 Capital markets, net 7,476 6,543 933 14 % 11,175 10,764 5,765 Mortgage banking, net 2,777 6,111 (3,334) (55) % 2,926 3,541 4,213 Bank and corporate owned life insurance 4,615 3,816 799 21 % 3,804 4,051 4,135 Asset gains (losses), net 789 840 (51) (6) % 838 3,340 (1,735) Investment securities gains (losses), net 35 (28) 63 N/M 37 1 7 Other 2,707 2,861 (154) (5) % 2,799 2,670 2,226 Total noninterest income 80,398 75,857 4,541 6 % 79,384 81,265 66,977 Noninterest expense Personnel 161,168 135,172 25,996 19 % 135,130 135,703 126,994 Technology 32,867 29,736 3,131 11 % 28,641 28,590 26,508 Occupancy 14,091 13,725 366 3 % 14,229 12,757 12,644 Business development and advertising 8,548 7,827 721 9 % 9,118 8,362 7,748 Equipment 5,423 5,610 (187) (3) % 6,888 4,368 4,494 Legal and professional 17,454 6,721 10,733 160 % 5,945 5,232 6,674 Loan and foreclosure costs 1,552 1,707 (155) (9) % 1,327 1,638 2,705 FDIC assessment 10,595 8,837 1,758 20 % 6,589 9,980 9,708 Other intangible amortization 6,894 2,203 4,691 N/M 2,203 2,203 2,203 Other 13,290 7,625 5,665 74 % 9,396 7,369 9,674 Total noninterest expense 271,882 219,163 52,719 24 % 219,466 216,202 209,352 Income before income taxes 159,167 152,883 6,284 4 % 162,901 154,286 139,629 Income tax expense 35,603 33,248 2,355 7 % 25,772 29,554 28,399 Net income 123,564 119,635 3,929 3 % 137,129 124,732 111,230 Preferred stock dividends 2,875 2,875 — — % 2,875 2,875 2,875 Net income available to common equity $ 120,689 $ 116,760 $ 3,929 3 % $ 134,254 $ 121,857 $ 108,355 Pre-tax pre-provision income(a) 178,555 163,884 14,671 9 % 169,899 170,286 157,625 Earnings per common share Basic $ 0.64 $ 0.70 $ (0.06) (9) % $ 0.81 $ 0.73 $ 0.65 Diluted $ 0.63 $ 0.70 $ (0.07) (10) % $ 0.80 $ 0.73 $ 0.65 Average common shares outstanding Basic 188,084 165,097 22,987 14 % 165,126 165,029 164,936 Diluted 189,899 166,561 23,338 14 % 166,746 166,703 166,343 N/M = Not meaningful Numbers may not recalculate due to rounding conventions. Prior periods have been adjusted to conform with current period presentation. (a) This is a non-GAAP financial measure. See the non-GAAP financial measures reconciliation below for a reconciliation to GAAP financial measures. Associated Banc-Corp Net Interest Income Analysis - Fully Tax-Equivalent Basis - Sequential and Comparable Quarter Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025(a) (Dollars in thousands) Average Balance Interest Income /Expense Average Yield /Rate Average Balance Interest Income /Expense Average Yield /Rate Average Balance Interest Income /Expense Average Yield /Rate Assets Earning assets Loans (b)(c) Commercial and industrial $ 13,185,643 $ 197,248 6.00 % $ 11,776,702 $ 172,507 5.94 % $ 10,981,221 $ 179,955 6.57 % Commercial real estate—owner occupied 1,577,489 22,000 5.59 % 1,190,708 15,968 5.44 % 1,114,054 16,014 5.77 % Commercial and business lending 14,763,132 219,248 5.96 % 12,967,410 188,475 5.89 % 12,095,274 195,969 6.50 % Commercial real estate—investor 6,502,707 99,131 6.11 % 5,277,283 78,154 6.01 % 5,582,333 91,569 6.58 % Real estate construction 2,410,500 40,425 6.73 % 2,055,338 34,043 6.72 % 1,869,708 33,883 7.27 % Commercial real estate lending 8,913,207 139,556 6.28 % 7,332,621 112,197 6.21 % 7,452,041 125,452 6.75 % Total commercial 23,676,339 358,804 6.08 % 20,300,031 300,672 6.01 % 19,547,316 321,421 6.59 % Residential mortgage 6,916,754 65,963 3.81 % 6,831,984 64,640 3.78 % 7,034,607 64,995 3.70 % Auto finance 4,044,290 58,768 5.83 % 3,125,504 41,969 5.45 % 2,933,161 41,156 5.63 % Home equity 817,378 13,096 6.41 % 709,865 11,692 6.60 % 667,339 12,098 7.25 % Other consumer 415,476 10,388 10.03 % 314,118 8,504 10.98 % 309,578 8,644 11.20 % Total consumer 12,193,898 148,215 4.87 % 10,981,471 126,805 4.65 % 10,944,685 126,893 4.64 % Total loans 35,870,237 507,019 5.67 % 31,281,502 427,477 5.53 % 30,492,001 448,313 5.89 % Investments Taxable securities 8,153,435 88,347 4.33 % 7,071,751 75,676 4.28 % 6,578,690 71,174 4.33 % Tax-exempt securities(b) 1,971,946 17,373 3.52 % 1,978,501 17,389 3.52 % 2,004,725 17,598 3.51 % Other short-term investments 1,291,636 14,694 4.56 % 1,016,795 11,641 4.64 % 999,294 12,679 5.09 % Total investments 11,417,017 120,414 4.22 % 10,067,047 104,706 4.17 % 9,582,709 101,451 4.24 % Total earning assets and related interest income 47,287,254 $ 627,433 5.32 % 41,348,549 $ 532,183 5.20 % 40,074,710 $ 549,764 5.50 % Other assets, net 3,948,588 3,670,399 3,345,353 Total assets $ 51,235,842 $ 45,018,948 $ 43,420,063 Liabilities and stockholders' equity Interest-bearing liabilities Interest-bearing deposits Savings $ 6,046,605 $ 19,815 1.31 % $ 5,532,848 $ 17,690 1.30 % $ 5,222,869 $ 17,139 1.32 % Interest-bearing demand 8,720,180 37,161 1.71 % 7,886,442 34,236 1.76 % 7,683,402 42,485 2.22 % Money market 7,641,652 45,976 2.41 % 6,061,442 34,239 2.29 % 5,988,947 38,695 2.59 % Network transaction deposits 1,879,876 17,459 3.73 % 1,917,854 17,502 3.70 % 1,843,998 20,211 4.40 % Brokered CDs 4,085,995 40,487 3.97 % 3,528,294 34,811 4.00 % 4,089,844 45,418 4.45 % Other time deposits 4,945,821 42,867 3.48 % 4,234,785 36,795 3.52 % 3,725,205 33,707 3.63 % Total interest-bearing deposits 33,320,129 203,765 2.45 % 29,161,665 175,273 2.44 % 28,554,266 197,656 2.78 % Federal funds purchased and securities sold under agreements to repurchase 460,414 4,085 3.56 % 425,142 3,732 3.56 % 220,872 2,004 3.64 % FHLB advances 3,733,950 35,052 3.77 % 3,380,379 31,570 3.79 % 3,221,749 34,889 4.34 % Senior and subordinated debt 592,195 10,163 6.86 % 594,401 10,163 6.84 % 592,399 10,700 7.22 % Other interest-bearing liabilities 16,430 190 4.64 % 11,212 116 4.18 % 17,844 287 6.45 % Total funding 4,802,989 49,490 4.13 % 4,411,134 45,581 4.18 % 4,052,863 47,880 4.74 % Total interest-bearing liabilities and related interest expense 38,123,118 $ 253,255 2.66 % 33,572,799 $ 220,854 2.67 % 32,607,129 $ 245,536 3.02 % Noninterest-bearing demand deposits 7,062,098 5,999,278 5,648,935 Other liabilities 422,642 440,344 431,338 Stockholders' equity 5,627,984 5,006,527 4,732,661 Total liabilities and stockholders' equity $ 51,235,842 $ 45,018,948 $ 43,420,063 Interest rate spread 2.65 % 2.53 % 2.48 % Net free funds 0.52 % 0.50 % 0.56 % Fully tax-equivalent net interest income and net interest margin $ 374,178 3.17 % $ 311,329 3.03 % $ 304,228 3.04 % Fully tax-equivalent adjustment (4,139) (4,139) (4,228) Net interest income $ 370,039 $ 307,190 $ 300,000 Numbers may not recalculate due to rounding conventions. (a) Prior period has been adjusted to conform with current period presentation. (b) The yield on tax-exempt loans and securities is computed on a fully tax-equivalent basis using a tax rate of 21%. (c) Loans held for sale have been included in the average balances. Associated Banc-Corp Net Interest Income Analysis - Fully Tax-Equivalent Basis - Year Over Year Six Months Ended June 30, 2026 2025(a) (Dollars in thousands) Average Balance Interest Income /Expense Average Yield / Rate Average Balance Interest Income /Expense Average Yield / Rate Assets Earning assets Loans (b)(c) Commercial and industrial $ 12,485,064 $ 369,755 5.97 % $ 10,783,368 $ 349,740 6.54 % Commercial real estate—owner occupied 1,385,167 37,968 5.53 % 1,127,535 32,214 5.76 % Commercial and business lending 13,870,231 407,723 5.93 % 11,910,904 381,954 6.46 % Commercial real estate—investor 5,893,380 177,285 6.06 % 5,499,334 178,658 6.55 % Real estate construction 2,233,900 74,468 6.72 % 1,884,065 67,829 7.26 % Commercial real estate lending 8,127,280 251,753 6.24 % 7,383,399 246,486 6.73 % Total commercial 21,997,511 659,476 6.04 % 19,294,303 628,440 6.57 % Residential mortgage 6,874,603 130,603 3.80 % 7,144,851 131,818 3.69 % Auto finance 3,587,435 100,736 5.66 % 2,889,190 80,332 5.61 % Home equity 763,919 24,788 6.49 % 662,509 24,150 7.29 % Other consumer 365,077 18,892 10.44 % 311,691 17,417 11.27 % Total consumer 11,591,034 275,019 4.76 % 11,008,241 253,717 4.62 % Total loans 33,588,545 934,495 5.60 % 30,302,544 882,157 5.86 % Investments Taxable securities 7,615,581 164,023 4.31 % 6,489,135 140,962 4.34 % Tax-exempt securities(b) 1,975,205 34,763 3.52 % 2,010,403 35,264 3.51 % Other short-term investments 1,154,975 26,335 4.60 % 878,929 21,921 5.03 % Total investments 10,745,761 225,121 4.19 % 9,378,467 198,147 4.23 % Total earning assets and related interest income 44,334,306 $ 1,159,616 5.26 % 39,681,011 $ 1,080,304 5.48 % Other assets, net 3,810,263 3,346,515 Total assets $ 48,144,569 $ 43,027,526 Liabilities and stockholders' equity Interest-bearing liabilities Interest-bearing deposits Savings $ 5,791,146 $ 37,505 1.31 % $ 5,192,835 $ 35,068 1.36 % Interest-bearing demand 8,305,614 71,397 1.73 % 7,856,593 87,915 2.26 % Money market 6,855,912 80,215 2.36 % 6,033,999 78,255 2.62 % Network transaction deposits 1,898,760 34,961 3.71 % 1,845,974 40,278 4.40 % Brokered CDs 3,808,685 75,298 3.99 % 4,201,955 94,711 4.55 % Other time deposits 4,592,267 79,662 3.50 % 3,740,683 70,569 3.80 % Total interest-bearing deposits 31,252,384 379,038 2.45 % 28,872,038 406,796 2.84 % Federal funds purchased and securities sold under agreements to repurchase 442,876 7,818 3.56 % 297,963 5,626 3.81 % FHLB advances 3,558,141 66,621 3.78 % 2,413,352 50,979 4.26 % Senior and subordinated debt 593,292 20,326 6.85 % 609,788 21,785 7.15 % Other interest-bearing liabilities 13,835 306 4.46 % 24,683 695 5.68 % Total funding 4,608,144 95,071 4.15 % 3,345,786 79,085 4.76 % Total interest-bearing liabilities and related interest expense 35,860,528 $ 474,109 2.67 % 32,217,824 $ 485,881 3.04 % Noninterest-bearing demand deposits 6,533,624 5,644,554 Other liabilities 431,445 483,247 Stockholders' equity 5,318,972 4,681,901 Total liabilities and stockholders' equity $ 48,144,569 $ 43,027,526 Interest rate spread 2.59 % 2.44 % Net free funds 0.51 % 0.57 % Fully tax-equivalent net interest income and net interest margin $ 685,507 3.10 % $ 594,423 3.01 % Fully tax-equivalent adjustment (8,279) (8,483) Net interest income $ 677,228 $ 585,940 Numbers may not recalculate due to rounding conventions. (a) Prior period has been adjusted to conform with current period presentation. (b) The yield on tax-exempt loans and securities is computed on a fully tax-equivalent basis using a tax rate of 21%. (c) Loans held for sale have been included in the average balances. Associated Banc-Corp  Loan and Deposit Composition (Dollars in thousands) Period end loan composition Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Commercial and industrial $ 13,750,175 $ 12,339,597 11 % $ 11,799,757 $ 11,567,651 $ 11,281,964 22 % Commercial real estate—owner occupied 1,575,445 1,193,778 32 % 1,186,324 1,149,939 1,101,501 43 % Commercial and business lending 15,325,620 13,533,375 13 % 12,986,081 12,717,590 12,383,465 24 % Commercial real estate—investor 6,492,950 5,266,584 23 % 5,246,030 5,369,441 5,370,422 21 % Real estate construction 2,546,186 2,117,479 20 % 1,994,642 1,958,766 1,950,267 31 % Commercial real estate lending 9,039,136 7,384,063 22 % 7,240,672 7,328,207 7,320,689 23 % Total commercial 24,364,756 20,917,438 16 % 20,226,753 20,045,797 19,704,154 24 % Residential mortgage 6,808,398 6,727,734 1 % 6,793,957 6,858,285 6,949,387 (2) % Auto finance 4,044,416 3,136,334 29 % 3,106,498 3,041,644 2,969,495 36 % Home equity 826,343 706,075 17 % 713,271 698,112 676,208 22 % Other consumer 423,127 310,583 36 % 323,135 308,126 308,361 37 % Total consumer 12,102,284 10,880,726 11 % 10,936,861 10,906,167 10,903,451 11 % Total loans $ 36,467,040 $ 31,798,164 15 % $ 31,163,614 $ 30,951,964 $ 30,607,605 19 % Quarter average loan composition(a) Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Commercial and industrial $ 13,185,643 $ 11,776,702 12 % $ 11,588,059 $ 11,367,533 $ 10,981,221 20 % Commercial real estate—owner occupied 1,577,489 1,190,708 32 % 1,157,531 1,105,787 1,114,054 42 % Commercial and business lending 14,763,132 12,967,410 14 % 12,745,590 12,473,319 12,095,274 22 % Commercial real estate—investor 6,502,707 5,277,283 23 % 5,291,562 5,300,765 5,582,333 16 % Real estate construction 2,410,500 2,055,338 17 % 1,974,318 1,991,565 1,869,708 29 % Commercial real estate lending 8,913,207 7,332,621 22 % 7,265,880 7,292,330 7,452,041 20 % Total commercial 23,676,339 20,300,031 17 % 20,011,470 19,765,649 19,547,316 21 % Residential mortgage 6,916,754 6,831,984 1 % 6,899,778 6,987,858 7,034,607 (2) % Auto finance 4,044,290 3,125,504 29 % 3,064,457 3,000,978 2,933,161 38 % Home equity 817,378 709,865 15 % 706,923 690,330 667,339 22 % Other consumer 415,476 314,118 32 % 312,730 305,644 309,578 34 % Total consumer 12,193,898 10,981,471 11 % 10,983,888 10,984,811 10,944,685 11 % Total loans $ 35,870,237 $ 31,281,502 15 % $ 30,995,358 $ 30,750,460 $ 30,492,001 18 % Period end deposit and customer funding composition Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Noninterest-bearing demand $ 6,908,338 $ 6,125,067 13 % $ 6,126,632 $ 5,906,251 $ 5,782,487 19 % Savings 6,171,614 5,660,641 9 % 5,471,870 5,380,574 5,291,674 17 % Interest-bearing demand 8,697,879 7,964,665 9 % 7,823,362 7,791,861 7,490,772 16 % Money market 7,614,164 6,188,045 23 % 6,139,438 5,785,871 5,915,867 29 % Network transaction deposits 1,823,130 1,746,518 4 % 2,154,995 2,013,964 1,792,362 2 % Brokered CDs 3,933,787 3,562,752 10 % 3,795,133 3,956,517 4,072,048 (3) % Other time deposits 4,782,343 4,484,077 7 % 4,041,178 4,046,815 3,802,356 26 % Total deposits 39,931,255 35,731,765 12 % 35,552,608 34,881,853 34,147,565 17 % Other customer funding(b) 55,371 42,372 31 % 47,794 64,570 75,440 (27) % Total deposits and other customer funding $ 39,986,626 $ 35,774,137 12 % $ 35,600,402 $ 34,946,423 $ 34,223,005 17 % Core customer deposits(c) and other customer funding $ 34,229,709 $ 30,464,867 12 % $ 29,650,274 $ 28,975,941 $ 28,358,595 21 % Quarter average deposit composition Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Noninterest-bearing demand $ 7,062,098 $ 5,999,278 18 % $ 6,064,487 $ 5,796,676 $ 5,648,935 25 % Savings 6,046,605 5,532,848 9 % 5,436,968 5,338,129 5,222,869 16 % Interest-bearing demand 8,720,180 7,886,442 11 % 8,054,088 7,898,770 7,683,402 13 % Money market 7,641,652 6,061,442 26 % 5,890,836 5,860,802 5,988,947 28 % Network transaction deposits 1,879,876 1,917,854 (2) % 2,090,587 1,933,659 1,843,998 2 % Brokered CDs 4,085,995 3,528,294 16 % 3,998,012 3,916,329 4,089,844 — % Other time deposits 4,945,821 4,234,785 17 % 4,093,939 3,961,522 3,725,205 33 % Total deposits 40,382,227 35,160,943 15 % 35,628,917 34,705,887 34,203,201 18 % Other customer funding(b) 57,029 43,973 30 % 45,973 74,305 80,010 (29) % Total deposits and other customer funding $ 40,439,256 $ 35,204,916 15 % $ 35,674,890 $ 34,780,192 $ 34,283,211 18 % Core customer deposits(c) and other customer funding $ 34,473,385 $ 29,758,768 16 % $ 29,586,291 $ 28,930,204 $ 28,349,369 22 % Numbers may not recalculate due to rounding conventions. (a) Loans held for sale have been included in the average balances. (b) Includes repurchase agreements. (c) This is a non-GAAP financial measure. See the non-GAAP financial measures reconciliation below for a reconciliation to GAAP financial measures. Associated Banc-Corp Selected Asset Quality Information (Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Allowance for loan losses Balance at beginning of period $ 385,756 $ 378,068 2 % $ 378,341 $ 376,515 $ 371,348 4 % Provision for loan losses recorded at acquisition 397 — N/M — — — N/M Allowance for PCD loans acquired 39,512 — N/M — — — N/M Allowance for purchased seasoned loans acquired 28,263 — N/M — — — N/M Balance at April 1, 2026 453,928 — N/M — — — N/M Provision for loan losses 13,000 13,000 — % 2,000 15,000 18,000 (28) % Charge offs (26,282) (8,210) N/M (7,636) (15,254) (18,348) 43 % Recoveries 3,083 2,898 6 % 5,363 2,081 5,515 (44) % Net charge offs (23,199) (5,312) N/M (2,273) (13,173) (12,833) 81 % Balance at end of period $ 443,729 $ 385,756 15 % $ 378,068 $ 378,341 $ 376,515 18 % Allowance for unfunded commitments Balance at beginning of period $ 39,276 $ 41,276 (5) % $ 36,276 $ 35,276 $ 35,276 11 % Allowance for PCD unfunded commitments acquired 3,597 — N/M — — — N/M Allowance for purchased seasoned unfunded commitments acquired 1,871 — N/M — — — N/M Balance at April 1, 2026 44,744 — N/M — — — N/M Provision for unfunded commitments 6,000 (2,000) N/M 5,000 1,000 — N/M Balance at end of period 50,744 39,276 29 % 41,276 36,276 35,276 44 % Allowance for credit losses on loans (ACLL) $ 494,473 $ 425,032 16 % $ 419,344 $ 414,618 $ 411,791 20 % Provision for credit losses on loans $ 19,397 $ 11,000 76 % $ 7,000 $ 16,000 $ 18,000 8 % (Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Net (charge offs) recoveries Commercial and industrial $ (17,604) $ (2,736) N/M $ 1,524 $ (1,230) $ (1,826) N/M Commercial real estate—owner occupied — — N/M (113) — — N/M Commercial and business lending (17,604) (2,736) N/M 1,411 (1,230) (1,826) N/M Commercial real estate—investor (2,710) 500 N/M 94 (8,930) (8,493) (68) % Real estate construction 2 2 — % 2 2 121 (98) % Commercial real estate lending (2,708) 502 N/M 96 (8,928) (8,372) (68) % Total commercial (20,312) (2,234) N/M 1,507 (10,158) (10,198) 99 % Residential mortgage (197) 148 N/M (197) (231) (302) (35) % Auto finance (1,508) (1,843) (18) % (2,010) (1,505) (689) 119 % Home equity 251 439 (43) % 2 56 237 6 % Other consumer (1,433) (1,822) (21) % (1,575) (1,336) (1,881) (24) % Total consumer (2,887) (3,078) (6) % (3,780) (3,015) (2,636) 10 % Total net charge offs $ (23,199) $ (5,312) N/M $ (2,273) $ (13,173) $ (12,833) 81 % (In basis points) Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Net (charge offs) recoveries to average loans (annualized) Commercial and industrial (54) (9) 5 (4) (7) Commercial real estate—owner occupied — — (4) — — Commercial and business lending (48) (9) 4 (4) (6) Commercial real estate—investor (17) 4 1 (67) (61) Real estate construction — — — — 3 Commercial real estate lending (12) 3 1 (49) (45) Total commercial (34) (4) 3 (20) (21) Residential mortgage (1) 1 (1) (1) (2) Auto finance (15) (24) (26) (20) (9) Home equity 12 25 — 3 14 Other consumer (138) (235) (200) (173) (244) Total consumer (9) (11) (14) (11) (10) Total net charge offs (26) (7) (3) (17) (17) (Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Credit quality Nonaccrual loans $ 149,953 $ 110,581 36 % $ 100,428 $ 106,179 $ 112,999 33 % Other real estate owned (OREO) 34,052 32,534 5 % 28,016 29,268 34,287 (1) % Repossessed assets 1,293 806 60 % 757 789 882 47 % Total nonperforming assets $ 185,298 $ 143,921 29 % $ 129,201 $ 136,236 $ 148,169 25 % Accruing loans past due 90 days or more(a) $ 2,288 $ 2,490 (8) % $ 2,814 $ 2,692 $ 14,160 (84) % Allowance for credit losses on loans to total loans 1.36 % 1.34 % 1.35 % 1.34 % 1.35 % Allowance for credit losses on loans to nonaccrual loans 329.75 % 384.36 % 417.56 % 390.49 % 364.42 % Nonaccrual loans to total loans 0.41 % 0.35 % 0.32 % 0.34 % 0.37 % Nonperforming assets to total loans plus OREO and repossessed assets 0.51 % 0.45 % 0.41 % 0.44 % 0.48 % Nonperforming assets to total assets 0.36 % 0.32 % 0.29 % 0.31 % 0.34 % Associated Banc-Corp Selected Asset Quality Information (continued) (Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Nonaccrual loans Commercial and industrial $ 44,388 $ 19,606 126 % $ 7,178 $ 12,802 $ 6,945 N/M Commercial real estate—owner occupied 3,255 34 N/M 203 203 — N/M Commercial and business lending 47,643 19,640 143 % 7,381 13,006 6,945 N/M Commercial real estate—investor 11,184 8,078 38 % 8,311 7,333 15,805 (29) % Real estate construction 2,974 25 N/M 144 145 146 N/M Commercial real estate lending 14,158 8,103 75 % 8,455 7,478 15,950 (11) % Total commercial 61,801 27,743 123 % 15,836 20,484 22,895 170 % Residential mortgage 70,335 66,890 5 % 68,492 69,093 73,817 (5) % Auto finance 10,973 8,888 23 % 8,271 8,218 8,004 37 % Home equity 6,582 6,950 (5) % 7,774 8,299 8,201 (20) % Other consumer 262 110 138 % 55 85 82 N/M Total consumer 88,152 82,838 6 % 84,592 85,696 90,104 (2) % Total nonaccrual loans $ 149,953 $ 110,581 36 % $ 100,428 $ 106,179 $ 112,999 33 % (Dollars in thousands) Jun 30, 2026 Mar 31, 2026 Seql Qtr % Change Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Comp Qtr % Change Accruing loans 30-89 days past due Commercial and industrial $ 10,668 $ 24,253 (56) % $ 2,683 $ 1,071 $ 2,593 N/M Commercial real estate—owner occupied 893 345 159 % 34 — 5,628 (84) % Commercial and business lending 11,561 24,598 (53) % 2,717 1,071 8,221 41 % Commercial real estate—investor 3,089 33,487 (91) % 19,405 14,190 1,042 196 % Real estate construction 1,437 — N/M 117 21 90 N/M Commercial real estate lending 4,526 33,487 (86) % 19,522 14,211 1,132 N/M Total commercial 16,087 58,085 (72) % 22,239 15,282 9,353 72 % Residential mortgage 14,034 7,755 81 % 13,135 12,684 8,744 60 % Auto finance 20,367 14,549 40 % 16,445 14,013 13,149 55 % Home equity 4,536 2,742 65 % 3,779 4,265 4,338 5 % Other consumer(a) 2,988 2,173 38 % 2,704 2,728 2,578 16 % Total consumer 41,925 27,219 54 % 36,063 33,689 28,810 46 % Total accruing loans 30-89 days past due $ 58,012 $ 85,304 (32) % $ 58,302 $ 48,971 $ 38,163 52 % N/M = Not meaningful Numbers may not recalculate due to rounding conventions. (a) Excluding guaranteed student loans. Associated Banc-Corp Selected Quarterly Information (Dollars and shares in thousands, except per share data and as noted) YTD Jun 2026 YTD Jun 2025 2Q26 1Q26 4Q25 3Q25 2Q25 Per common share data Dividends $ 0.48 $ 0.46 $ 0.24 $ 0.24 $ 0.24 $ 0.23 $ 0.23 Market value: High 31.34 25.63 31.34 29.37 27.14 27.01 24.56 Low 24.34 18.91 25.98 24.34 24.11 23.78 18.91 Close 30.77 25.86 25.76 25.71 24.39 Book value / share(a) 28.85 29.04 28.81 28.17 27.67 Tangible book value (TBV) / share(a)(b) 22.15 22.23 22.01 21.36 20.84 Selected trend information Net interest margin(c) 3.10 % 3.01 % 3.17 % 3.03 % 3.06 % 3.04 % 3.04 % Effective tax rate 22.06 % 18.34 % 22.37 % 21.75 % 15.82 % 19.16 % 20.34 % Noninterest expense / average assets(c) 2.06 % 1.97 % 2.13 % 1.97 % 1.96 % 1.95 % 1.93 % Dividend payout ratio(d) 35.82 % 36.80 % 37.50 % 34.29 % 29.63 % 31.51 % 35.38 % Loans / deposits ratio 91.32 % 88.99 % 87.65 % 88.73 % 89.63 % Assets under management, at market value(e) $ 17,009 $ 15,708 $ 16,132 $ 16,178 $ 15,537 Common shares repurchased during period(f) 894 900 — 894 — — — Common shares outstanding, end of period 188,718 165,438 165,980 165,904 165,778 Risk-based capital(g)(h) Total risk-weighted assets $ 41,108,329 $ 35,773,810 $ 35,125,680 $ 34,688,358 $ 34,241,408 Common equity Tier 1(i) $ 4,304,915 $ 3,744,610 $ 3,683,711 $ 3,584,712 $ 3,493,316 Common equity Tier 1 capital ratio(i) 10.47 % 10.47 % 10.49 % 10.33 % 10.20 % Tier 1 capital ratio 10.94 % 11.01 % 11.04 % 10.89 % 10.77 % Total capital ratio 12.79 % 13.02 % 13.08 % 12.94 % 12.83 % Tier 1 leverage ratio 8.99 % 8.98 % 8.96 % 8.81 % 8.72 % Selected equity and performance ratios Total stockholders' equity / total assets 10.88 % 10.96 % 11.01 % 10.95 % 10.87 % Tangible common equity / tangible assets (TCE Ratio)(b) 8.27 % 8.27 % 8.29 % 8.18 % 8.06 % Average stockholders' equity / average assets 11.05 % 10.88 % 10.98 % 11.12 % 11.05 % 10.95 % 10.90 % Return on average equity(c) 9.22 % 9.17 % 8.81 % 9.69 % 11.09 % 10.26 % 9.43 % Return on average tangible common equity (ROATCE)(b)(c) 12.54 % 12.66 % 12.12 % 13.03 % 15.04 % 14.02 % 12.96 % Return on average assets(c) 1.02 % 1.00 % 0.97 % 1.08 % 1.23 % 1.12 % 1.03 % Return on average tangible assets(b)(c) 1.07 % 1.04 % 1.03 % 1.12 % 1.27 % 1.17 % 1.07 % Efficiency ratios (expense / revenue) Fully tax-equivalent efficiency ratio 57.26 % 57.70 % 58.30 % 56.03 % 55.21 % 54.77 % 55.81 % Adjusted efficiency ratio(b) 54.23 % 57.15 % 52.91 % 55.77 % 55.15 % 54.77 % 55.81 % Numbers may not recalculate due to rounding conventions. (a) Based on period end common shares outstanding. (b) This is a non-GAAP financial measure. See the non-GAAP financial measures reconciliation below for a reconciliation to GAAP financial measures. (c) This ratio is annualized. (d) Ratio is based upon basic earnings per common share. (e) In millions. Excludes assets held in brokerage accounts. (f) Does not include repurchases related to tax withholding on equity compensation. (g) The Federal Reserve establishes regulatory capital requirements, including well-capitalized standards for the Corporation. The regulatory capital requirements effective for the Corporation follow Basel III, subject to certain transition provisions. (h) June 30, 2026 data is estimated. (i) The Corporation is not classified as an advanced approaches holding company as defined by the Federal Reserve. As such, the Corporation has elected to be subject to the AOCI-related adjustments when calculating common equity tier 1 capital which allows the Corporation to opt-out of the requirement to include most components of AOCI in common equity tier 1 capital. Associated Banc-Corp Non-GAAP Financial Measures Reconciliation YTD YTD (Dollars in thousands) Jun 2026 Jun 2025 2Q26 1Q26 4Q25 3Q25 2Q25 Tangible common equity reconciliation Common equity $ 5,444,011 $ 4,803,760 $ 4,781,235 $ 4,674,186 $ 4,586,669 Less: Goodwill and other intangible assets, net 1,264,034 1,125,639 1,127,842 1,130,044 1,132,247 Tangible common equity for TBV / share and TCE Ratio $ 4,179,977 $ 3,678,121 $ 3,653,393 $ 3,544,142 $ 3,454,422 Tangible assets reconciliation Total assets $ 51,812,506 $ 45,593,740 $ 45,202,596 $ 44,455,863 $ 43,993,729 Less: Goodwill and other intangible assets, net 1,264,034 1,125,639 1,127,842 1,130,044 1,132,247 Tangible assets for TCE Ratio $ 50,548,472 $ 44,468,101 $ 44,074,754 $ 43,325,819 $ 42,861,482 Average tangible common equity reconciliation Average common equity $ 5,124,860 $ 4,487,789 $ 5,433,872 $ 4,812,415 $ 4,713,445 $ 4,627,038 $ 4,538,549 Less: Average goodwill and other intangible assets, net 1,197,702 1,134,600 1,267,876 1,126,748 1,129,055 1,131,385 1,133,627 Average tangible common equity for ROATCE 3,927,158 3,353,189 $ 4,165,996 $ 3,685,667 $ 3,584,390 $ 3,495,653 $ 3,404,922 Average tangible assets reconciliation Average total assets $ 48,144,569 $ 43,027,526 $ 51,235,842 $ 45,018,948 $ 44,402,771 $ 44,015,203 $ 43,420,063 Less: Average goodwill and other intangible assets, net 1,197,702 1,134,600 1,267,876 1,126,748 1,129,055 1,131,385 1,133,627 Average tangible assets for return on average tangible assets $ 46,946,867 $ 41,892,926 $ 49,967,966 $ 43,892,200 $ 43,273,716 $ 42,883,818 $ 42,286,436 Adjusted net income reconciliation Net income $ 243,200 $ 212,916 $ 123,564 $ 119,635 $ 137,129 $ 124,732 $ 111,230 Other intangible amortization, net of tax 6,822 3,304 5,170 1,652 1,652 1,652 1,652 Adjusted net income for return on average tangible assets $ 250,022 $ 216,220 $ 128,734 $ 121,287 $ 138,781 $ 126,384 $ 112,882 Adjusted net income available to common equity reconciliation Net income available to common equity $ 237,450 $ 207,166 $ 120,689 $ 116,760 $ 134,254 $ 121,857 $ 108,355 Other intangible amortization, net of tax 6,822 3,304 5,170 1,652 1,652 1,652 1,652 Adjusted net income available to common equity for ROATCE $ 244,272 $ 210,470 $ 125,859 $ 118,412 $ 135,906 $ 123,509 $ 110,007 Pre-tax pre-provision income Income before income taxes $ 312,050 $ 260,724 $ 159,167 $ 152,883 $ 162,901 $ 154,286 $ 139,629 Provision for credit losses 30,389 30,999 19,388 11,001 6,998 16,000 17,996 Pre-tax pre-provision income $ 342,439 $ 291,723 $ 178,555 $ 163,884 $ 169,899 $ 170,286 $ 157,625 Period end core customer deposits reconciliation Total deposits $ 39,931,255 $ 35,731,765 $ 35,552,608 $ 34,881,853 $ 34,147,565 Less: Network transaction deposits 1,823,130 1,746,518 2,154,995 2,013,964 1,792,362 Less: Brokered CDs 3,933,787 3,562,752 3,795,133 3,956,517 4,072,048 Core customer deposits $ 34,174,338 $ 30,422,495 $ 29,602,480 $ 28,911,371 $ 28,283,155 Average core customer deposits reconciliation Average total deposits $ 37,786,008 $ 34,516,592 $ 40,382,227 $ 35,160,943 $ 35,628,917 $ 34,705,887 $ 34,203,201 Less: Average network transaction deposits 1,898,760 1,845,974 1,879,876 1,917,854 2,090,587 1,933,659 1,843,998 Less: Average brokered CDs 3,808,685 4,201,955 4,085,995 3,528,294 3,998,012 3,916,329 4,089,844 Average core customer deposits $ 32,078,563 $ 28,468,663 $ 34,416,356 $ 29,714,795 $ 29,540,318 $ 28,855,899 $ 28,269,359 Total expense for efficiency ratios reconciliation Noninterest expense $ 491,045 $ 419,971 $ 271,882 $ 219,163 $ 219,466 $ 216,202 $ 209,352 Less: Other intangible amortization 9,096 4,405 6,894 2,203 2,203 2,203 2,203 Total expense for fully tax-equivalent efficiency ratio 481,949 415,566 264,988 216,960 217,263 213,999 207,149 Less: Acquisition costs(a) 25,476 — 24,469 1,007 252 — — Total expense for adjusted efficiency ratio $ 456,473 $ 415,566 $ 240,519 $ 215,953 $ 217,011 $ 213,999 $ 207,149 Total revenue for efficiency ratios reconciliation Net interest income $ 677,228 $ 585,940 $ 370,039 $ 307,190 $ 309,981 $ 305,222 $ 300,000 Noninterest income 156,256 125,754 80,398 75,857 79,384 81,265 66,977 Less: Investment securities (losses) gains, net 6 11 35 (28) 37 1 7 Fully tax-equivalent adjustment 8,279 8,483 4,139 4,139 4,196 4,222 4,228 Total revenue for fully tax-equivalent efficiency ratio 841,757 720,166 454,541 387,214 393,524 390,708 371,198 Less: Announced initiatives(b) — (6,976) — — — — — Total revenue for adjusted efficiency ratio $ 841,757 $ 727,142 $ 454,541 $ 387,214 $ 393,524 $ 390,708 $ 371,198 Numbers may not recalculate due to rounding conventions. (a) During the fourth quarter of 2025, the Corporation entered into a definitive agreement to acquire American National. The acquisition was completed on April 1, 2026. These costs, incurred in connection with the acquisition, represent nonrecurring costs. (b) Announced initiatives include the loss on mortgage portfolio sale as a result of balance sheet repositioning that the Corporation announced in the fourth quarter of 2024. Associated Banc-Corp Non-GAAP Financial Measures Reconciliation (Dollars in thousands) 2Q26 Adjusted net income available to common equity reconciliation Net income available to common equity $ 120,689 Acquisition costs, net of tax 18,996 Adjusted net income available to common equity for adjusted earnings per share $ 139,685 Investor Contact: Ben McCarville, Senior Vice President, Director of Investor Relations 920-491-7059 Media Contact: Andrea Kozek, Vice President, Public Relations Senior Manager 920-491-7518 View original content:https://www.prnewswire.com/news-releases/associated-banc-corp-reports-second-quarter-2026-earnings-of-0-63-per-common-share-or-0-73-per-common-share-excluding-nonrecurring-items-recognized-during-the-quarter-302833675.html SOURCE Associated Banc-Corp