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Stock research / United States / ASB · State Commercial Banks · NYSE

Associated Banc-Corp (ASB)

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Associated Banc-Corp (ASB) reported revenue of $450 million for Q2 FY2026, the quarter ended 30 June 2026, up 22.7% on the same quarter a year earlier. Net income was $124 million, up 11.1% on the year, and diluted earnings per share $0.63. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue$450 millionup 22.7%
Net income$124 millionup 11.1%
Diluted EPS$0.63
QuarterQ2 FY2026ended 30 June 2026

Associated Banc-Corp (ASB) in brief

Associated Banc-Corp (ASB) reported revenue of $1.5 billion for fiscal 2025, the year ended 31 December 2025, up 43.3% on the year before.
Read moreNet income was $475 million and diluted earnings per share $2.77. Revenue was $1.0 billion in fiscal 2024, $1.1 billion in fiscal 2023, $1.2 billion in fiscal 2022 and $1.1 billion in fiscal 2021. Net income in the same years was $123 million, $183 million, $366 million and $351 million. Over the twelve months to 30 June 2026, Associated Banc-Corp reported revenue of $1.6 billion and net income of $505 million. Revenue grew 3.1% a year, compounded, over the five years to fiscal 2025. Associated Banc-Corp declared $0.93 a share in dividends over the last four quarters and had 189 million shares outstanding at the latest filed count. At the close of 8 October 2026 the market cap of Associated Banc-Corp was $5.4 billion, 10.1 times its earnings over the last twelve months.

Ratios

From the filings

ROE9.0%
Net margin31.4%
Debt to equity1.01
Share count, 1 year13.8%
Sales CAGR, 3 years6.3%
Profit CAGR, 3 years9.0%
EPS, TTM$2.86

At the close of 8 October 2026

Price$28.76
Market cap$5.4 billion
Stock P/E10.06
Price to book0.96
EV / EBITDAn/a
Dividend yield3.2%
Market cap / sales3.37
52-week high$32.33
52-week low$24.11
Price, 1 year10.2%
Price CAGR, 3 years20.5%
Price CAGR, 5 years5.3%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on the total debt Associated Banc-Corp states in its own filing, with lease liabilities counted separately and never inside it. Associated Banc-Corp files on the bank format, which does not report a return on capital employed, an operating margin or interest cover, so those are left out here rather than shown as a blank. Free cash flow margin and cash conversion are left out too, by our choice: a bank's operating cash flow moves with its lending and deposits, so neither ratio means for a bank what it means for an operating company. Nothing here is a valuation or a view.
ASBgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on ASB

Filings26 in twelve months: 15 current reports (8-K), about 6 regulation fd disclosure; 3 officer or director change; 3 other events; 3 results of operations; 2 unregistered sale of equity
Planned insider sales22 Form 144 notices in twelve months, $12.0 million; latest 3 September 2026
Options tapeput/call 0.17 by open interest at the 8 October 2026 close; the straddle prices a 5.9% move to 16 October 2026
13F holders9 of the followed funds hold it; largest Geode Capital Management; 7 Schedule 13D or 13G filings in twelve months
Insider trading28 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest7.5 million shares short, 3.95 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 3 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue32112232332233063.5345367386389383450
Interest expense254272266274278258240246251235221253
Pre-tax income103-138101103108-178121140154163153159
Tax rate19%n/a20%-12%19%n/a16%20%19%16%22%22%
Net income83.2-90.881.211688.0-162102111125137120124
Net margin26%-74%25%36%27%-254%29%30%32%35%31%27%
Diluted EPS$0.53-$0.62$0.52$0.74$0.56-$1.03$0.59$0.65$0.73$0.80$0.70$0.63
Operating cash flow19964.615411310520798.2141158218136207
Capital expenditure13.918.38.511.511.713.37.510.610.57.88.712.3
Free cash flow18546.414610293.419490.7131147210127195
Dividends paid32.033.533.533.533.638.638.538.538.540.240.145.7
Shares outstanding151m151m151m151m151m166m166m166m166m166m165m189m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue9711,0051,0601,0741,2351,2161,2771,0581,2401,1031,0381,4881,609
Interest expense55.877.484.314527533715072.31889181,075972960
Pre-tax income276270288339413407327436460206134578629
Income tax85.581.587.311079.879.720.285.393.523.111.3103124
Effective tax rate31.0%30.2%30.4%32.3%19.3%19.6%6.2%19.6%20.3%11.2%8.4%17.8%19.7%
Net income191188200229334327307351366183123475505
Net margin19.6%18.7%18.9%21.3%27.0%26.9%24.0%33.2%29.5%16.6%11.9%31.9%31.4%
Diluted EPS$1.16$1.19$1.26$1.42$1.89$1.91$1.86$2.18$2.34$1.13$0.72$2.77$2.86
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Follow the cashA discounted cash flow: five years of free cash flow, added up in today's moneyNot for Associated Banc-Corp: a bank's lending and deposits run through its operating cash flow, so its free cash flow swings with the balance sheet rather than with what the bank earns. Book value and return on equity, in the ratios above, are the usual measures for it.

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow200302641458497574550530847443580616719
Capital expenditure50.454.610447.465.967.554.752.362.761.845.036.439.4
Free cash flow149247538411431507495477784381535579680
Cash from investing-2,119-1,534-1,653-1,397-3811,617-794-1,584-5,255-1,436-2,219-1,625-2,286
Cash from financing2,3496741,1801,01245.0-2,4803711,3644,0041,2961,7351,7102,138
Depreciation and amortisation50.347.245.447.048.368.160.855.453.955.857.759.262.7
Buybacks1090.00.0n/an/an/an/an/an/an/an/an/an/a
Dividends paid58.762.467.976.4106112112116123130139156165
Dividend per sharen/an/an/an/an/an/an/an/a$0.81$0.85$0.89$0.93n/a
Diluted shares, weighted158m151m150m154m170m162m154m152m150m151m153m167m190m
Shares outstanding at period endn/an/an/an/a164m157m154m149m150m151m166m166m189m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity2,8002,9373,0913,2373,7813,9224,0914,0254,0154,1744,6064,9755,638
Deposits18,76421,00821,88822,78624,89723,77926,48228,46629,63633,44634,64835,55339,931
Repurchase agreements494431508325112433193320585327470308529
Debt4,9983,5113,8544,0744,5274,1952,4352,2255,1742,8083,1624,1705,695
Other liabilitiesn/an/an/a61.633156.821968.8n/a26113719718.8
Total liabilities and equity26,82227,71529,13930,48433,64832,38633,42035,10439,40641,01643,02345,20351,813
Owned
Fixed assets275268330331363435419385377373379382449
Goodwill9299699729761,1691,1761,1091,1051,1051,1051,1051,1051,147
Intangible assets7.416.515.415.675.888.368.358.149.340.531.722.8117
Securities held for sale or to maturity9941,1741,2792,2892,7452,7544,9646,5716,7027,4618,3209,0009,877
Loans17,32818,44019,77620,51922,70222,62024,06823,94528,48728,86529,40530,78636,023
Resale agreements16.019.046.532.61487.71.10.027.814.3n/an/an/a
Cash and equivalents1,0324746427168775897161,0266219241,0201,7201,831
Other assets6,2416,3556,0775,6055,5684,7162,0742,0152,0362,2332,7622,1872,368
Total assets26,82227,71529,13930,48433,64832,38633,42035,10439,40641,01643,02345,20351,813
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded4.0%3.1%6.3%45.6%
Profit growth, compounded9.7%9.1%9.0%262.5%
Return on equity, average7.3%6.9%5.5%9.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Banking

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Itaú Unibanco Holding S.A. ITUB *$108.4 billionn/a21.9%n/a-0.2%n/an/a
Bank of Nova Scotia BNS *$107.8 billion21.939.0%n/a12.1%n/a3.9%
Bank of New York Mellon Corp. BNY$96.8 billion16.6114.1%n/a10.6%0.681.4%
State Street Corp. STT$48.1 billion15.4512.2%n/a12.3%0.911.8%
Fifth Third Bancorp FITB$46.0 billion17.366.8%n/a23.8%0.513.0%
Banco Bradesco S.A. BBD *$45.9 billionn/a13.3%n/an/a0.224.6%
M&T Bank Corp. MTB$31.4 billion11.5210.9%n/a5.8%0.492.6%
Northern Trust Corp. NTRS$30.8 billion14.4016.7%n/a15.1%n/a1.8%
Citizens Financial Group Inc. CFG$27.1 billion13.908.1%n/a11.0%0.582.7%
East West Bancorp Inc. EWBC$17.3 billion12.1415.6%n/a13.7%0.001.9%
Ally Financial Inc. ALLY$11.5 billion8.889.4%n/a11.5%1.103.2%
SouthState Bank Corp. SSB$9.8 billion10.5810.4%n/a25.2%0.052.3%
All 67 in Banking
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
JPMorgan Chase & Co. JPM$881.0 billion14.2017.4%n/a13.5%1.231.8%
Bank of America Corp. BAC$376.2 billionn/an/an/an/a1.132.1%
HSBC Holdings plc HSBC *$318.1 billion15.4410.6%41.0%3.7%n/a4.2%
Royal Bank of Canada RY *$267.8 billion19.3714.6%n/a16.1%n/an/a
Mitsubishi UFJ Financial Group Inc. MUFG *$253.7 billion23.488.8%34.1%22.6%n/a2.2%
Wells Fargo & Company WFC$248.4 billion11.9412.5%n/a6.2%1.012.1%
Citigroup Inc. C$224.1 billion13.838.4%n/a10.0%1.571.9%
American Express Co. AXP$208.0 billion18.7033.4%n/a10.7%1.661.1%
Banco Santander, S.A. SAN *$198.0 billion13.3012.5%n/a0.5%n/a1.9%
Toronto-Dominion Bank TD *$192.3 billion14.0415.6%n/a18.4%n/a2.8%
Banco Bilbao Vizcaya Argentaria, S.A. BBVA *$149.4 billion13.2117.0%43.7%4.1%n/a3.2%
Mizuho Financial Group Inc. MFG *$130.3 billion18.0610.7%n/a38.1%n/a1.9%
Capital One Financial Corp. COF$122.3 billion12.349.2%n/a45.3%0.391.5%
Bank of Montreal BMO *$113.9 billion20.029.9%n/a10.6%n/a3.2%
HDFC Bank Limited HDB *$112.9 billion15.448.6%n/a5.2%n/a2.2%
Itaú Unibanco Holding S.A. ITUB *$108.4 billionn/a21.9%n/a-0.2%n/an/a
Bank of Nova Scotia BNS *$107.8 billion21.939.0%n/a12.1%n/a3.9%
Canadian Imperial Bank of Commerce CM *$100.4 billion18.0213.1%n/a13.8%n/a2.8%
ING Groep N.V. ING *$97.0 billion10.6815.4%n/an/an/a4.5%
Sumitomo Mitsui Financial Group, Inc. SMFG *$96.9 billion13.496.2%n/a26.1%0.583.7%
Bank of New York Mellon Corp. BNY$96.8 billion16.6114.1%n/a10.6%0.681.4%
U.S. Bancorp USB$88.9 billion11.3812.1%n/a6.7%0.873.6%
PNC Financial Services Group, Inc. PNC$87.6 billion12.0911.5%n/a13.2%1.343.0%
Barclays plc BCS *$79.7 billion10.279.2%n/a8.8%n/a2.1%
Lloyds Banking Group plc LYG *$79.6 billion14.739.8%n/a7.9%n/a3.3%
Nu Holdings Ltd. NU *$74.7 billion26.3125.4%n/a37.0%0.39n/a
NatWest Group plc NWG *$70.5 billion9.6112.9%n/a13.2%n/a4.4%
Truist Financial Corp. TFC$56.4 billion10.578.6%n/a4.1%0.674.5%
State Street Corp. STT$48.1 billion15.4512.2%n/a12.3%0.911.8%
Fifth Third Bancorp FITB$46.0 billion17.366.8%n/a23.8%0.513.0%
Banco Bradesco S.A. BBD *$45.9 billionn/a13.3%n/an/a0.224.6%
Coinbase Global, Inc. COIN$45.4 billionn/a-7.6%9.9%-10.4%0.45n/a
KB Financial Group Inc. KB *$43.8 billion10.769.9%47.5%5.4%n/a2.1%
ORIX Corporation IX *$41.2 billionn/a10.0%13.7%15.9%n/a2.8%
Shinhan Financial Group Co. Ltd. SHG *$36.0 billion10.348.6%n/an/a0.962.5%
M&T Bank Corp. MTB$31.4 billion11.5210.9%n/a5.8%0.492.6%
Huntington Bancshares Inc. HBAN$31.1 billion11.917.4%n/a26.4%0.574.0%
Northern Trust Corp. NTRS$30.8 billion14.4016.7%n/a15.1%n/a1.8%
Citizens Financial Group Inc. CFG$27.1 billion13.908.1%n/a11.0%0.582.7%
Synchrony Financial SYF$24.0 billion7.5520.8%n/a0.3%0.971.6%
Regions Financial Corp. RF$23.1 billion11.0511.8%n/a4.4%0.253.8%
Keycorp KEY$21.4 billion11.6910.3%n/a51.6%0.554.1%
East West Bancorp Inc. EWBC$17.3 billion12.1415.6%n/a13.7%0.001.9%
Pinnacle Financial Partners, Inc. PNFP$14.3 billion14.075.2%n/an/a0.411.6%
Ally Financial Inc. ALLY$11.5 billion8.889.4%n/a11.5%1.103.2%
First Horizon Corp. FHN$11.0 billion11.1511.5%n/a10.3%n/a2.6%
UMB Financial Corp. UMBF$9.9 billion10.8611.7%n/a39.3%0.061.3%
SouthState Bank Corp. SSB$9.8 billion10.5810.4%n/a25.2%0.052.3%
Wintrust Financial Corp. WTFC$9.7 billion11.5812.0%n/a11.5%0.001.4%
Cullen/Frost Bankers, Inc. CFR$9.5 billion14.4014.8%n/a7.4%n/a2.6%
OLD National Bancorp ONB$9.5 billion10.9910.3%n/a34.1%0.602.3%
Zions Bancorporation, National Association ZION$9.2 billion7.9915.2%n/a-64.1%0.252.8%
Western Alliance Bancorporation WAL$8.2 billion8.5012.5%n/a19.7%0.192.2%
Columbia Banking System, Inc. COLB$8.1 billion11.379.4%n/a33.6%n/a5.2%
Valley National Bancorp VLY$7.0 billion10.818.8%n/a12.2%0.493.5%
Prosperity Bancshares Inc. PB$6.7 billion11.566.8%n/a13.3%0.281.7%
United Bankshares Inc. UBSI$6.2 billion12.459.3%n/a14.5%0.103.3%
FNB Corp. FNB$6.1 billion10.298.8%n/a11.8%0.292.8%
Hancock Whitney Corp. HWC$5.9 billion14.269.6%n/a-0.2%0.042.5%
Home Bancshares Inc. HOMB$5.7 billion11.7710.5%n/a7.1%0.962.8%
Glacier Bancorp, Inc. GBCI$5.6 billion17.617.2%n/a32.2%n/a3.1%
Associated Banc-Corp ASB$5.4 billion10.069.0%n/a45.6%1.013.2%
First Financial Bankshares Inc. FFIN$4.5 billion16.8113.5%n/a12.4%0.452.4%
SLM Corp. SLM$4.3 billion6.3329.7%n/a11.5%2.362.3%
International Bancshares Corp. IBOC$4.3 billion10.3212.2%n/a4.0%n/a2.0%
Texas Capital Bancshares Inc. TCBI$4.0 billion12.0310.0%n/a33.1%0.14n/a
Euronet Worldwide, Inc. EEFT$2.4 billion9.9923.4%11.5%5.8%2.16n/a
23 companies share its SEC industry code (State Commercial Banks); the rest are the names nearest in size in its wider industry, Banking, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20264 August 2026EDGAR
10-Q31 March 202628 April 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q30 September 202528 October 2025EDGAR
10-Q30 June 202529 July 2025EDGAR
10-Q31 March 202529 April 2025EDGAR
10-K31 December 202412 February 2025EDGAR
10-Q30 September 202429 October 2024EDGAR
10-Q30 June 202430 July 2024EDGAR
10-Q31 March 202430 April 2024EDGAR

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