8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549
FORM	8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 24, 2025

                                                                            Associated Banc-Corp                                                                      

(Exact name of registrant as specified in its chapter)

Wisconsin	001-31343	39-1098068
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

433 Main Street	Green Bay	Wisconsin	54301
(Address of principal executive offices)			(Zip code)

Registrant’s telephone number, including area code 920 491-7500

(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common stock, par value $0.01 per share	ASB	New York Stock Exchange
Depositary Shrs, each representing 1/40th intrst in a shr of 5.875% Non-Cum. Perp Pref Stock, Srs E	ASB PrE	New York Stock Exchange
Depositary Shrs, each representing 1/40th intrst in a shr of 5.625% Non-Cum. Perp Pref Stock, Srs F	ASB PrF	New York Stock Exchange
6.625% Fixed-Rate Reset Subordinated Notes due 2033	ASBA	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐	Emerging growth company
☐	If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02 Results of Operations and Financial Condition.

On April 24, 2025, Associated Banc-Corp announced its earnings for the quarter ended March 31, 2025. A copy of the registrant’s press release containing this information and the slide presentation discussed on the conference call for investors and analysts on April 24, 2025, are being furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Report on Form 8-K and are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits.

 The following exhibits are furnished as part of this Report on Form 8-K:

99.1    Press release of the registrant dated April 24, 2025, containing financial information for the quarter ended March 31, 2025.

99.2    Slide presentation discussed on the conference call for investors and analysts on April 24, 2025.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
	Associated Banc-Corp
	(Registrant)
Date: April 24, 2025	By: /s/ Derek S. Meyer
	Derek S. Meyer
	Chief Financial Officer

EX-99.1

Exhibit 99.1

NEWS RELEASE 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

Associated Banc-Corp Reports First Quarter 2025 Net Income Available to Common Equity of $99 Million, or $0.59 per Common Share

GREEN BAY, Wis. -- April 24, 2025 -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income available to common equity ("earnings") of $99 million, or $0.59 per common share, for the quarter ended March 31, 2025. These amounts compare to a loss of $164 million, or $1.03 per common share, for the quarter ended December 31, 2024 and earnings of $78 million, or $0.52 per common share, for the quarter ended March 31, 2024.

"2025 is off to a strong start at Associated Bank," said President and CEO Andy Harmening. "During the first quarter, we achieved several key milestones of our strategic plan, completing our commercial expansion, achieving a record-high net promoter score, and finalizing the balance sheet repositioning we announced in December. Importantly, the emerging momentum from our initiatives helped us deliver another strong financial quarter, with over $500 million in loan and deposit growth, 16 basis points of margin expansion, ten basis points of CET1 capital accretion and solid credit quality trends."

"The current macroeconomic environment has added an element of uncertainty for the industry, but here at Associated, we’re entering this period of uncertainty with the major investments in our strategic plan completed, a strengthened profitability profile, a solid capital position, and a foundational discipline on credit and risk management. We continue to feel well-positioned to deliver enhanced value for our stakeholders in 2025."

First Quarter 2025 Highlights (all comparisons to Fourth Quarter 2024)

•Diluted earnings per common share of $0.59

•Total period end loan growth of $526 million

•Total period end deposit growth of $548 million

•Total period end core customer deposit1 growth of $503 million

•Net interest income of $286 million

•Net interest margin of 2.97%

•Noninterest income of $59 million

•Noninterest expense of $211 million

•Provision for credit losses of $13 million

•Allowance for credit losses on loans / total loans of 1.34%

•Net charge offs / average loans (annualized) of 0.12%

1 This is a non-GAAP financial measure. See financial tables for a reconciliation of non-GAAP financial measures to GAAP financial measures.

Loans

First quarter 2025 average total loans of $30.1 billion decreased $91 million from the prior quarter and increased 3%, or $742 million, from the same period last year. With respect to first quarter 2025 average balances by loan category:

•Commercial and business lending increased $250 million from the prior quarter and increased $908 million from the same period last year to $11.7 billion.

•Commercial real estate lending increased $107 million from the prior quarter and decreased $76 million from the same period last year to $7.3 billion.

•Consumer lending decreased $448 million from the prior quarter and decreased $90 million from the same period last year to $11.1 billion.

First quarter 2025 period end total loans of $30.3 billion increased 2%, or $526 million, from the prior quarter and increased 3%, or $800 million, from the same period last year. With respect to first quarter 2025 period end balances by loan category:

•Commercial and business lending increased $327 million from the prior quarter and increased $1.1 billion from the same period last year to $12.0 billion.

•Commercial real estate lending increased $196 million from the prior quarter and increased $85 million the same period last year to $7.4 billion.

•Consumer lending increased $3 million from the prior quarter and decreased $374 million from the same period last year to $10.8 billion.

We continue to expect 2025 period end loan growth of 5% to 6% as compared to the year ended December 31, 2024.

Deposits

First quarter 2025 average deposits of $34.8 billion increased 1%, or $496 million, from the prior quarter and increased 5%, or $1.6 billion, from the same period last year. With respect to first quarter 2025 average balances by deposit category:

•Noninterest-bearing demand deposits decreased $98 million from the prior quarter and decreased $242 million from the same period last year to $5.6 billion.

•Savings increased $30 million from the prior quarter and increased $234 million from the same period last year to $5.2 billion.

•Interest-bearing demand deposits increased $408 million from the prior quarter and increased $542 million from the same period last year to $8.0 billion.

•Money market deposits increased $155 million from the prior quarter and decreased $37 million from the same period last year to $6.1 billion.

•Total time deposits decreased $157 million from the prior quarter and increased $873 million from the same period last year to $8.1 billion.

•Network transaction deposits increased $157 million from the prior quarter and increased $196 million from the same period last year to $1.8 billion.

First quarter 2025 period end deposits of $35.2 billion increased 2%, or $548 million, from the prior quarter and increased 4%, or $1.5 billion, from the same period last year. With respect to first quarter 2025 period end balances by deposit category:

•Noninterest-bearing demand deposits increased $360 million from the prior quarter and decreased $118 million from the same period last year to $6.1 billion.

•Savings increased $114 million from the prior quarter and increased $123 million from the same period last year to $5.2 billion.

•Interest-bearing demand deposits decreased $50 million from the prior quarter and increased $328 million from the same period last year to $9.1 billion.

•Money market deposits increased $182 million from the prior quarter and increased $98 million from the same period last year to $6.8 billion.

•Total time deposits decreased $59 million from the prior quarter and increased $1.1 billion from the same period last year to $7.9 billion.

•Network transaction deposits (included in money market and interest-bearing demand deposits) increased $125 million from the prior quarter and increased $90 million from the same period last year to $1.9 billion.

We continue to expect 2025 period end total deposit growth of 1% to 2% and period end core customer deposit growth of 4% to 5% as compared to the year ended December 31, 2024.

Net Interest Income and Net Interest Margin

First quarter 2025 net interest income of $286 million increased $16 million from the prior quarter and increased $28 million from the same period last year. The net interest margin increased to 2.97%, reflecting a 16 basis point increase from the prior quarter and an 18 basis point increase from the same period last year.

•The average yield on total loans for the first quarter of 2025 decreased 15 basis points from the prior quarter and decreased 39 basis points from the same period last year to 5.83%.

•The average cost of total interest-bearing liabilities for the first quarter of 2025 decreased 23 basis points from the prior quarter and decreased 49 basis points from the same period last year to 3.06%.

•The net free funds benefit for the first quarter of 2025 decreased 6 basis points from the prior quarter and decreased 12 basis points from the same period last year to 0.58%.

We continue to expect total net interest income growth of 12% to 13% in 2025.

Noninterest Income

First quarter 2025 total noninterest income of $59 million increased $266 million from the prior quarter and decreased $6 million, or 10%, from the same period last year. The increase relative to the prior quarter was primarily driven by nonrecurring items recognized in the fourth quarter of 2024 as a result of the balance sheet repositioning announced in December of 2024. The decrease relative to the same period last year was primarily driven by a $7 million loss related to the settlement of the mortgage sale announced in December of 2024. With respect to first quarter 2025 noninterest income line items:

•The Company recognized a small investment securities net gain in the first quarter of 2025 as compared to a $148 million net loss in the prior quarter and a $4 million net gain in the same period last year. The loss in the prior quarter was primarily driven by a net loss on a sale of investments recognized in the fourth quarter of 2024 as a result of the balance sheet repositioning announced in December of 2024.

•The Company incurred a loss on mortgage portfolio sale of $7 million in the first quarter of 2025 as compared to a $130 million loss in the prior quarter and no loss in the same period last year. The current and prior quarter losses were driven by the mortgage portfolio sale as a result of the balance sheet repositioning announced in December of 2024.

•Capital markets, net decreased $5 million from the prior quarter and increased slightly from the same period last year.

•Wealth management fees decreased $2 million from the prior quarter and increased $1 million from the same period last year.

•Card-based fees decreased $2 million from the prior quarter and decreased $1 million from the same period last year.

After adjusting to exclude the fourth quarter 2024 and first quarter 2025 impacts of the mortgage and investment securities sales we announced in December 2024, we continue to expect total noninterest income growth of between 0% and 1% in 2025.

Noninterest Expense

First quarter 2025 total noninterest expense of $211 million decreased $14 million from the prior quarter, driven primarily by a $14 million expense for a loss on prepayments of FHLB advances recognized in the fourth quarter of 2024 as a result of the balance sheet repositioning announced in December of 2024, and increased $13 million from the same period last year. With respect to first quarter 2025 noninterest expense line items:

•Personnel expense decreased $2 million from the prior quarter and increased $5 million from the same period last year.

•Occupancy expense increased $1 million from the prior quarter and increased $2 million from the same period last year.

•FDIC assessment expense increased $1 million from the prior quarter and decreased $4 million from the same period last year.

•Other noninterest expense increased $1 million from the prior quarter and increased $7 million from the same period last year.

After adjusting to exclude the $14 million impact of the loss on prepayments of FHLB advances recognized in the fourth quarter of 2024, we continue to expect total noninterest expense to grow by 3% to 4% in 2025.

Taxes

First quarter 2025 tax expense was $19 million compared to a $16 million tax benefit in the prior quarter and $20 million of tax expense in the same period last year. First quarter 2025 tax expense included a $6 million benefit from a partial release of a valuation allowance on deferred taxes. The tax benefit recognized in the prior quarter was primarily driven by a loss on income before income taxes as a result of nonrecurring items associated with the balance sheet repositioning announced in December 2024. The effective tax rate for the first quarter of 2025 was 16.0% compared to an effective tax rate of 19.8% in the same period last year.

We continue to expect the annual effective tax rate to be between 19% and 21% in 2025.

Credit

First quarter 2025 provision for credit losses on loans was $13 million, compared to a provision of $17 million in the prior quarter and a provision of $24 million in the same period last year. With respect to first quarter 2025 credit quality:

•Nonaccrual loans of $135 million increased $12 million from the prior quarter and decreased $44 million from the same period last year. The nonaccrual loans to total loans ratio was 0.44% in the first quarter, up from 0.41% in the prior quarter and down from 0.60% in the same period last year.

•First quarter 2025 net charge offs of $9 million decreased compared to net charge offs of $12 million in the prior quarter and decreased compared to net charge offs of $22 million in the same period last year.

•The allowance for credit losses on loans (ACLL) of $407 million increased $4 million compared to the prior quarter and increased $19 million compared to the same period last year. The ACLL to total loans ratio was 1.34% in the first quarter, down from 1.35% in the prior quarter and up from 1.31% in the same period last year.

In 2025, 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 10.11%at March 31, 2025. The Company’s capital ratios continue to be in excess of the Basel III “well-capitalized” regulatory benchmarks on a fully phased in basis.

FIRST QUARTER 2025 EARNINGS RELEASE CONFERENCE CALL

The Company will host a conference call for investors and analysts at 4:00 p.m. Central Time (CT) today, April 24, 2025. 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 first quarter 2025 earnings call. The first quarter 2025 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 $43 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 nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, Minnesota and Missouri. 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)
($ in thousands)	March 31, 2025		December 31, 2024		Seql Qtr $ Change		September 30, 2024		June 30, 2024		March 31, 2024		Comp Qtr $ Change
Assets
Cash and due from banks	$	521,323	$	544,059	$	(22,737)	$	554,631	$	470,818	$	429,859	$	91,464
Interest-bearing deposits in other financial institutions	711,033		453,590		257,443		408,101		484,677		420,114		290,919
Federal funds sold and securities purchased under agreements to resell	105		21,955		(21,850)		4,310		3,600		1,610		(1,505)
Investment securities available for sale, at fair value	4,796,570		4,581,434		215,136		4,152,527		3,912,730		3,724,148		1,072,422
Investment securities held to maturity, net, at amortized cost	3,705,793		3,738,687		(32,894)		3,769,150		3,799,035		3,832,967		(127,174)
Equity securities	23,331		23,242		89		23,158		22,944		19,571		3,760
Federal Home Loan Bank and Federal Reserve Bank stocks, at cost	194,244		179,665		14,578		178,168		212,102		173,968		20,276
Residential loans held for sale	47,611		646,687		(599,076)		67,219		83,795		52,414		(4,803)
Commercial loans held for sale	7,910		32,634		(24,724)		11,833		—		—		7,910
Loans	30,294,127		29,768,586		525,541		29,990,897		29,618,271		29,494,263		799,864
Allowance for loan losses	(371,348)		(363,545)		(7,802)		(361,765)		(355,844)		(356,006)		(15,342)
Loans, net	29,922,780		29,405,041		517,739		29,629,131		29,262,428		29,138,257		784,523
Tax credit and other investments	254,187		258,886		(4,699)		265,385		246,300		255,252		(1,065)
Premises and equipment, net	377,521		379,093		(1,572)		373,816		369,968		367,618		9,903
Bank and corporate owned life insurance	690,551		689,000		1,552		686,704		683,451		685,089		5,462
Goodwill	1,104,992		1,104,992		—		1,104,992		1,104,992		1,104,992		—
Other intangible assets, net	29,457		31,660		(2,203)		33,863		36,066		38,268		(8,811)
Mortgage servicing rights, net	86,251		87,683		(1,433)		81,977		85,640		85,226		1,025
Interest receivable	159,729		167,772		(8,044)		167,777		173,106		167,092		(7,363)
Other assets	675,748		676,987		(1,239)		698,073		672,256		640,638		35,110
Total assets	$	43,309,136	$	43,023,068	$	286,068	$	42,210,815	$	41,623,908	$	41,137,084	$	2,172,052
Liabilities and stockholders’ equity
Noninterest-bearing demand deposits	$	6,135,946	$	5,775,657	$	360,289	$	5,857,421	$	5,815,045	$	6,254,135	$	(118,189)
Interest-bearing deposits	29,060,767		28,872,777		187,990		27,696,877		26,875,995		27,459,023		1,601,744
Total deposits	35,196,713		34,648,434		548,279		33,554,298		32,691,039		33,713,158		1,483,555
Short-term funding	311,335		470,369		(159,033)		917,028		859,539		765,671		(454,336)
FHLB advances	2,027,297		1,853,807		173,490		1,913,294		2,673,046		1,333,411		693,886
Other long-term funding	591,382		837,635		(246,253)		844,342		536,113		536,055		55,327
Allowance for unfunded commitments	35,276		38,776		(3,500)		35,776		33,776		31,776		3,500
Accrued expenses and other liabilities	460,574		568,485		(107,911)		532,842		588,057		588,341		(127,767)
Total liabilities	38,622,578		38,417,506		205,071		37,797,579		37,381,571		36,968,412		1,654,166
Stockholders’ equity
Preferred equity	194,112		194,112		—		194,112		194,112		194,112		—
Common equity	4,492,446		4,411,450		80,996		4,219,125		4,048,225		3,974,561		517,885
Total stockholders’ equity	4,686,558		4,605,562		80,996		4,413,236		4,242,337		4,168,673		517,885
Total liabilities and stockholders’ equity	$	43,309,136	$	43,023,068	$	286,068	$	42,210,815	$	41,623,908	$	41,137,084	$	2,172,052

Numbers may not recalculate due to rounding conventions.

1

Associated Banc-Corp Consolidated Statements of Income (Unaudited) - Quarterly Trend
($ in thousands, except per share data)					Seql Qtr										Comp Qtr
	1Q25		4Q24		$ Change		% Change		3Q24		2Q24		1Q24		$ Change		% Change
Interest income
Interest and fees on loans	$	433,299	$	453,253	$	(19,954)	(4)	%	$	465,728	$	456,788	$	454,472	$	(21,173)	(5)	%
Interest and dividends on investment securities
Taxable	69,702		50,524		19,178		38	%	51,229		50,278		46,548		23,154		50	%
Tax-exempt	13,956		14,469		(513)		(4)	%	14,660		14,669		14,774		(818)		(6)	%
Other interest	8,920		10,478		(1,558)		(15)	%	8,701		8,539		7,595		1,325		17	%
Total interest income	525,877		528,724		(2,847)		(1)	%	540,318		530,274		523,388		2,489		—	%
Interest expense
Interest on deposits	209,140		222,888		(13,748)		(6)	%	231,623		221,062		226,231		(17,091)		(8)	%
Interest on federal funds purchased and securities sold under agreements to repurchase	3,622		3,203		419		13	%	3,385		2,303		2,863		759		27	%
Interest on other short-term funding	—		668		(668)		(100)	%	6,144		6,077		4,708		(4,708)		(100)	%
Interest on FHLB advances	16,090		17,908		(1,818)		(10)	%	24,799		34,143		21,671		(5,581)		(26)	%
Interest on other long-term funding	11,085		13,769		(2,684)		(19)	%	11,858		10,096		10,058		1,027		10	%
Total interest expense	239,937		258,436		(18,499)		(7)	%	277,809		273,681		265,530		(25,593)		(10)	%
Net interest income	285,941		270,289		15,652		6	%	262,509		256,593		257,858		28,083		11	%
Provision for credit losses	13,003		16,986		(3,982)		(23)	%	20,991		23,008		24,001		(10,998)		(46)	%
Net interest income after provision for credit losses	272,938		253,303		19,635		8	%	241,518		233,585		233,857		39,081		17	%
Noninterest income
Wealth management fees	22,498		24,103		(1,605)		(7)	%	24,144		22,628		21,694		804		4	%
Service charges and deposit account fees	12,814		13,232		(418)		(3)	%	13,708		12,263		12,439		375		3	%
Card-based fees	10,442		11,948		(1,506)		(13)	%	11,731		11,975		11,267		(825)		(7)	%
Other fee-based revenue	5,251		5,182		68		1	%	5,057		4,857		4,402		849		19	%
Capital markets, net	4,345		9,032		(4,687)		(52)	%	4,317		4,685		4,050		295		7	%
Mortgage banking, net	3,822		3,387		435		13	%	2,132		2,505		2,662		1,160		44	%
Loss on mortgage portfolio sale	(6,976)		(130,406)		123,430		(95)	%	—		—		—		(6,976)		N/M
Bank and corporate owned life insurance	5,204		2,322		2,883		124	%	4,001		4,584		2,570		2,634		102	%
Asset (losses) gains, net	(878)		364		(1,242)		N/M		(474)		(627)		(306)		(572)		187	%
Investment securities gains (losses), net	4		(148,194)		148,198		N/M		100		67		3,879		(3,875)		(100)	%
Other	2,251		2,257		(6)		—	%	2,504		2,222		2,327		(76)		(3)	%
Total noninterest income (loss)	58,776		(206,772)		265,549		N/M		67,221		65,159		64,985		(6,209)		(10)	%
Noninterest expense
Personnel	123,897		125,944		(2,047)		(2)	%	121,036		121,581		119,395		4,502		4	%
Technology	27,139		26,984		154		1	%	27,217		27,161		26,200		939		4	%
Occupancy	15,381		14,325		1,056		7	%	13,536		13,128		13,633		1,748		13	%
Business development and advertising	6,386		7,408		(1,022)		(14)	%	6,683		7,535		6,517		(131)		(2)	%
Equipment	4,527		4,729		(202)		(4)	%	4,653		4,450		4,599		(72)		(2)	%
Legal and professional	6,083		6,861		(778)		(11)	%	5,639		4,429		4,672		1,411		30	%
Loan and foreclosure costs	2,594		1,951		642		33	%	2,748		1,793		1,979		615		31	%
FDIC assessment	10,436		9,139		1,298		14	%	8,223		7,131		13,946		(3,510)		(25)	%
Other intangible amortization	2,203		2,203		—		—	%	2,203		2,203		2,203		—		—	%
Loss on prepayments of FHLB advances	—		14,243		(14,243)		(100)	%	—		—		—		—		N/M
Other	11,974		10,496		1,478		14	%	8,659		6,450		4,513		7,461		165	%
Total noninterest expense	210,619		224,282		(13,664)		(6)	%	200,597		195,861		197,657		12,962		7	%
Income (loss) before income taxes	121,095		(177,752)		298,847		N/M		108,142		102,884		101,185		19,910		20	%
Income tax expense (benefit)	19,409		(16,137)		35,546		N/M		20,124		(12,689)		20,016		(607)		(3)	%
Net income (loss)	101,687		(161,615)		263,301		N/M		88,018		115,573		81,169		20,518		25	%
Preferred stock dividends	2,875		2,875		—		—	%	2,875		2,875		2,875		—		—	%
Net income (loss) available to common equity	$	98,812	$	(164,490)	$	263,301	N/M		$	85,143	$	112,698	$	78,294	$	20,518	26	%
Earnings (loss) per common share
Basic	$	0.60	$	(1.04)	$	1.64	N/M		$	0.56	$	0.75	$	0.52	$	0.08	15	%
Diluted	$	0.59	$	(1.03)	$	1.62	N/M		$	0.56	$	0.74	$	0.52	$	0.07	13	%
Average common shares outstanding
Basic	165,228		157,710		7,518		5	%	150,247		149,872		149,855		15,373		10	%
Diluted	166,604		159,164		7,441		5	%	151,492		151,288		151,292		15,312		10	%

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

2

Associated Banc-Corp Selected Quarterly Information
($ in millions except per share data; shares repurchased and outstanding in thousands)	1Q25			4Q24			3Q24			2Q24			1Q24
Per common share data
Dividends	$	0.23		$	0.23		$	0.22		$	0.22		$	0.22
Market value:
High	25.63			28.14			23.95			22.48			22.00
Low	21.06			20.64			20.07			19.90			19.73
Close	22.53			23.90			21.54			21.15			21.51
Book value / share	27.09			26.55			27.90			26.85			26.37
Tangible book value / share	20.25			19.71			20.37			19.28			18.78
Performance ratios (annualized)
Return on average assets	0.97		%	(1.53)		%	0.85		%	1.13		%	0.80		%
Noninterest expense / average assets	2.00		%	2.12		%	1.93		%	1.92		%	1.95		%
Effective tax rate	16.03		%	N/M			18.61		%	(12.33)		%	19.78		%
Dividend payout ratio(a)	38.33		%	N/M			39.29		%	29.33		%	42.31		%
Net interest margin	2.97		%	2.81		%	2.78		%	2.75		%	2.79		%
Selected trend information
Average full time equivalent employees(b)	4,006			3,982			4,041			4,025			4,070
Branch count	183			188			188			188			188
Assets under management, at market value(c)	$	14,685		$	14,773		$	15,033		$	14,304		$	14,171
Mortgage portfolio serviced for others	$	6,243		$	6,285		$	6,302		$	6,307		$	6,349
Mortgage servicing rights, net / mortgage portfolio serviced for others	1.38		%	1.40		%	1.30		%	1.36		%	1.34		%
Shares repurchased during period(d)	900			—			—			—			900
Shares outstanding, end of period	165,807			166,178			151,213			150,785			150,739
Selected quarterly ratios
Loans / deposits	86.07		%	85.92		%	89.38		%	90.60		%	87.49		%
Stockholders’ equity / assets	10.82		%	10.70		%	10.46		%	10.19		%	10.13		%
Risk-based capital(e)(f)
Total risk-weighted assets	$	33,801		$	33,950		$	33,326		$	32,768		$	32,753
Common equity Tier 1	$	3,417		$	3,397		$	3,238		$	3,172		$	3,089
Common equity Tier 1 capital ratio	10.11		%	10.01		%	9.72		%	9.68		%	9.43		%
Tier 1 capital ratio	10.68		%	10.58		%	10.30		%	10.27		%	10.02		%
Total capital ratio	12.75		%	12.61		%	12.36		%	12.34		%	12.08		%
Tier 1 leverage ratio	8.69		%	8.73		%	8.49		%	8.37		%	8.24		%

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

(a)Ratio is based upon basic earnings per common share.

(b)Average full time equivalent employees without overtime.

(c)Excludes assets held in brokerage accounts.

(d)Does not include repurchases related to tax withholding on equity compensation.

(e)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.

(f)March 31, 2025 data is estimated.

3

Associated Banc-Corp Selected Asset Quality Information
($ in thousands)	Mar 31, 2025			Dec 31, 2024			Seql Qtr % Change		Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Comp Qtr % Change
Allowance for loan losses
Balance at beginning of period	$	363,545		$	361,765		—	%	$	355,844		$	356,006		$	351,094		4	%
Provision for loan losses	16,500			14,000			18	%	19,000			21,000			27,000			(39)	%
Charge offs	(13,714)			(13,770)			—	%	(15,337)			(23,290)			(24,018)			(43)	%
Recoveries	5,017			1,551			N/M		2,258			2,127			1,930			160	%
Net (charge offs) recoveries	(8,698)			(12,220)			(29)	%	(13,078)			(21,163)			(22,088)			(61)	%
Balance at end of period	$	371,348		$	363,545		2	%	$	361,765		$	355,844		$	356,006		4	%
Allowance for unfunded commitments
Balance at beginning of period	$	38,776		$	35,776		8	%	$	33,776		$	31,776		$	34,776		12	%
Provision for unfunded commitments	(3,500)			3,000			N/M		2,000			2,000			(3,000)			17	%
Balance at end of period	$	35,276		$	38,776		(9)	%	$	35,776		$	33,776		$	31,776		11	%
Allowance for credit losses on loans (ACLL)	$	406,624		$	402,322		1	%	$	397,541		$	389,620		$	387,782		5	%
Provision for credit losses on loans	$	13,000		$	17,000		(24)	%	$	21,000		$	23,000		$	24,000		(46)	%
($ in thousands)	Mar 31, 2025			Dec 31, 2024			Seql Qtr % Change		Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Comp Qtr % Change
Net (charge offs) recoveries
Commercial and industrial	$	(4,726)		$	(2,406)		96	%	$	(10,649)		$	(13,676)		$	(18,638)		(75)	%
Commercial real estate—owner occupied	—			—			N/M		—			1			2			(100)	%
Commercial and business lending	(4,726)			(2,406)			96	%	(10,649)			(13,674)			(18,636)			(75)	%
Commercial real estate—investor	(892)			(6,617)			(87)	%	(1)			(4,569)			—			N/M
Real estate construction	30			4			N/M		2			28			30			—	%
Commercial real estate lending	(863)			(6,612)			(87)	%	2			(4,541)			30			N/M
Total commercial	(5,589)			(9,018)			(38)	%	(10,647)			(18,216)			(18,606)			(70)	%
Residential mortgage	197			(239)			N/M		(160)			(289)			(62)			N/M
Auto finance	(1,519)			(1,782)			(15)	%	(1,281)			(1,480)			(2,094)			(27)	%
Home equity	289			277			4	%	424			238			211			37	%
Other consumer	(2,076)			(1,457)			42	%	(1,414)			(1,417)			(1,537)			35	%
Total consumer	(3,109)			(3,202)			(3)	%	(2,431)			(2,947)			(3,482)			(11)	%
Total net (charge offs) recoveries	$	(8,698)		$	(12,220)		(29)	%	$	(13,078)		$	(21,163)		$	(22,088)		(61)	%
(In basis points)	Mar 31, 2025			Dec 31, 2024					Sep 30, 2024			Jun 30, 2024			Mar 31, 2024
Net (charge offs) recoveries to average loans (annualized)
Commercial and industrial	(18)			(9)					(43)			(55)			(77)
Commercial real estate—owner occupied	—			—					—			—			—
Commercial and business lending	(16)			(8)					(39)			(50)			(69)
Commercial real estate—investor	(7)			(51)					—			(37)			—
Real estate construction	1			—					—			—			1
Commercial real estate lending	(5)			(37)					—			(25)			—
Total commercial	(12)			(19)					(23)			(40)			(41)
Residential mortgage	1			(1)					(1)			(1)			—
Auto finance	(22)			(26)					(19)			(24)			(35)
Home equity	18			17					26			15			14
Other consumer	(268)			(208)					(216)			(221)			(232)
Total consumer	(11)			(11)					(8)			(10)			(13)
Total net (charge offs) recoveries	(12)			(16)					(18)			(29)			(30)
($ in thousands)	Mar 31, 2025			Dec 31, 2024			Seql Qtr % Change		Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Comp Qtr % Change
Credit quality
Nonaccrual loans	$	134,808		$	123,260		9	%	$	128,476		$	154,423		$	178,346		(24)	%
Other real estate owned (OREO)	23,475			20,217			16	%	18,830			8,325			8,437			178	%
Repossessed assets	688			687			—	%	793			671			1,241			(45)	%
Total nonperforming assets	$	158,971		$	144,164		10	%	$	148,098		$	163,418		$	188,025		(15)	%
Loans 90 or more days past due and still accruing	$	3,036		$	3,189		(5)	%	$	7,107		$	2,354		$	2,417		26	%
Allowance for credit losses on loans to total loans	1.34		%	1.35		%			1.33		%	1.32		%	1.31		%
Allowance for credit losses on loans to nonaccrual loans	301.63		%	326.40		%			309.43		%	252.31		%	217.43		%
Nonaccrual loans to total loans	0.44		%	0.41		%			0.43		%	0.52		%	0.60		%
Nonperforming assets to total loans plus OREO and repossessed assets	0.52		%	0.48		%			0.49		%	0.55		%	0.64		%
Nonperforming assets to total assets	0.37		%	0.34		%			0.35		%	0.39		%	0.46		%
Annualized year-to-date net charge offs (recoveries) to year-to-date average loans	0.12		%	0.23		%			0.25		%	0.30		%	0.30		%

4

Associated Banc-Corp Selected Asset Quality Information (continued)
($ in thousands)	Mar 31, 2025		Dec 31, 2024		Seql Qtr % Change		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Comp Qtr % Change
Nonaccrual loans
Commercial and industrial	$	12,898	$	19,084	(32)	%	$	14,369	$	21,190	$	72,243	(82)	%
Commercial real estate—owner occupied	1,501		1,501		—	%	9,285		1,851		2,090		(28)	%
Commercial and business lending	14,399		20,585		(30)	%	23,654		23,041		74,333		(81)	%
Commercial real estate—investor	31,689		16,705		90	%	18,913		48,249		18,697		69	%
Real estate construction	125		30		N/M		15		16		18		N/M
Commercial real estate lending	31,814		16,735		90	%	18,928		48,265		18,715		70	%
Total commercial	46,213		37,320		24	%	42,582		71,306		93,047		(50)	%
Residential mortgage	72,455		70,038		3	%	70,138		68,058		69,954		4	%
Auto finance	7,692		7,402		4	%	7,456		6,986		7,158		7	%
Home equity	8,275		8,378		(1)	%	8,231		7,996		8,100		2	%
Other consumer	173		122		42	%	70		77		87		99	%
Total consumer	88,595		85,941		3	%	85,894		83,117		85,299		4	%
Total nonaccrual loans	$	134,808	$	123,260	9	%	$	128,476	$	154,423	$	178,346	(24)	%
	Mar 31, 2025		Dec 31, 2024		Seql Qtr % Change		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Comp Qtr % Change
Restructured loans (accruing)(a)
Commercial and industrial	$	459	$	475	(3)	%	$	424	$	410	$	377	22	%
Commercial real estate—owner occupied	—		—		N/M		—		—		—		N/M
Commercial and business lending	459		475		(3)	%	424		410		377		22	%
Commercial real estate—investor	—		—		N/M		—		—		—		N/M
Real estate construction	—		—		N/M		—		—		—		N/M
Commercial real estate lending	—		—		N/M		—		—		—		N/M
Total commercial	459		475		(3)	%	424		410		377		22	%
Residential mortgage	599		782		(23)	%	361		306		345		74	%
Auto finance	1		8		(88)	%	35		142		66		(98)	%
Home equity	171		27		N/M		104		103		182		(6)	%
Other consumer	2,421		2,239		8	%	1,642		1,615		1,487		63	%
Total consumer	3,192		3,057		4	%	2,141		2,166		2,080		53	%
Total restructured loans (accruing)	$	3,651	$	3,531	3	%	$	2,565	$	2,576	$	2,457	49	%
Nonaccrual restructured loans (included in nonaccrual loans)	$	3,451	$	2,581	34	%	$	1,840	$	717	$	1,141	N/M
	Mar 31, 2025		Dec 31, 2024		Seql Qtr % Change		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Comp Qtr % Change
Accruing loans 30-89 days past due
Commercial and industrial	$	7,740	$	1,260	N/M		$	1,212	$	2,052	$	521	N/M
Commercial real estate—owner occupied	1,156		1,634		(29)	%	2,209		—		—		N/M
Commercial and business lending	8,896		2,893		N/M		3,421		2,052		521		N/M
Commercial real estate—investor	2,463		36,391		(93)	%	10,746		1,023		19,164		(87)	%
Real estate construction	—		21		(100)	%	88		—		1,260		(100)	%
Commercial real estate lending	2,463		36,412		(93)	%	10,834		1,023		20,424		(88)	%
Total commercial	11,360		39,305		(71)	%	14,255		3,075		20,945		(46)	%
Residential mortgage	13,568		14,892		(9)	%	13,630		10,374		9,903		37	%
Auto finance	12,522		14,850		(16)	%	15,458		15,814		12,521		—	%
Home equity	3,606		4,625		(22)	%	3,146		3,694		2,819		28	%
Other consumer(b)	2,381		3,128		(24)	%	2,163		1,995		2,260		5	%
Total consumer	32,076		37,496		(14)	%	34,397		31,877		27,503		17	%
Total accruing loans 30-89 days past due	$	43,435	$	76,801	(43)	%	$	48,651	$	34,952	$	48,448	(10)	%

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

(a) Balances depict loans that have been modified in the preceding 12 months for each respective period end.

(b) Excluding guaranteed student loans.

5

Associated Banc-Corp Net Interest Income Analysis - Fully Tax-Equivalent Basis - Sequential and Comparable Quarter
	Three Months Ended
	March 31, 2025						December 31, 2024						March 31, 2024
($ 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 (a) (b)
Commercial and business lending	$	11,724,484	$	185,985	6.43	%	$	11,474,489	$	194,355	6.74	%	$	10,816,255	$	194,090	7.22	%
Commercial real estate lending	7,313,994		121,034		6.71	%	7,206,796		128,476		7.09	%	7,389,962		138,850		7.56	%
Total commercial	19,038,479		307,020		6.54	%	18,681,285		322,831		6.88	%	18,206,217		332,940		7.35	%
Residential mortgage	7,256,320		66,823		3.68	%	7,814,056		70,513		3.61	%	7,896,956		68,787		3.48	%
Auto finance	2,844,730		39,176		5.59	%	2,771,414		39,365		5.65	%	2,373,720		32,603		5.52	%
Other retail	971,453		20,826		8.63	%	935,162		21,041		8.98	%	892,128		20,661		9.28	%
Total loans	30,110,982		433,844		5.83	%	30,201,918		453,750		5.98	%	29,369,022		454,991		6.22	%
Investment securities
Taxable	6,398,584		69,919		4.37	%	5,745,085		50,752		3.53	%	5,517,023		46,727		3.39	%
Tax-exempt(a)	2,016,144		17,666		3.50	%	2,085,957		17,653		3.39	%	2,133,352		18,024		3.38	%
Other short-term investments	757,227		9,111		4.88	%	846,195		10,717		5.04	%	576,782		8,311		5.80	%
Total investments and other	9,171,955		96,696		4.22	%	8,677,238		79,122		3.64	%	8,227,158		73,062		3.55	%
Total earning assets	39,282,937		$	530,540	5.45	%	38,879,155		$	532,871	5.46	%	37,596,179		$	528,053	5.64	%
Other assets, net	3,347,690						3,192,406						3,173,027
Total assets	$	42,630,627					$	42,071,562					$	40,769,206
Liabilities and stockholders' equity
Interest-bearing liabilities
Interest-bearing deposits
Savings	$	5,162,468	$	17,929	1.41	%	$	5,132,247	$	20,120	1.56	%	$	4,928,031	$	21,747	1.77	%
Interest-bearing demand	8,031,707		45,430		2.29	%	7,623,230		46,061		2.40	%	7,490,119		49,990		2.68	%
Money market	6,079,551		39,560		2.64	%	5,924,269		41,457		2.78	%	6,116,604		47,306		3.11	%
Network transaction deposits	1,847,972		20,067		4.40	%	1,690,745		20,091		4.73	%	1,651,937		22,205		5.41	%
Time deposits	8,071,642		86,154		4.33	%	8,228,420		95,158		4.60	%	7,198,315		84,983		4.75	%
Total interest-bearing deposits	29,193,341		209,140		2.91	%	28,598,911		222,888		3.10	%	27,385,005		226,231		3.32	%
Federal funds purchased and securities sold under agreements to repurchase	375,910		3,622		3.91	%	310,370		3,203		4.11	%	263,979		2,863		4.36	%
Other short-term funding	31,312		408		5.28	%	88,415		1,135		5.11	%	449,999		5,603		5.01	%
FHLB advances	1,595,972		16,090		4.09	%	1,456,087		17,908		4.89	%	1,540,247		21,671		5.66	%
Other long-term funding	627,658		11,085		7.06	%	840,880		13,769		6.55	%	539,106		10,058		7.46	%
Total short and long-term funding	2,630,852		31,205		4.79	%	2,695,752		36,015		5.33	%	2,793,331		40,194		5.78	%
Total interest-bearing liabilities	31,824,193		$	240,345	3.06	%	31,294,664		$	258,903	3.29	%	30,178,337		$	266,425	3.55	%
Noninterest-bearing demand deposits	5,640,123						5,738,557						5,882,052
Other liabilities	535,732						510,000						527,437
Stockholders’ equity	4,630,578						4,528,342						4,181,381
Total liabilities and stockholders’ equity	$	42,630,627					$	42,071,562					$	40,769,206
Interest rate spread					2.39	%					2.17	%					2.09	%
Net free funds					0.58	%					0.64	%					0.70	%
Fully tax-equivalent net interest income and net interest margin			$	290,195	2.97	%			$	273,968	2.81	%			$	261,628	2.79	%
Fully tax-equivalent adjustment			4,254						3,680						3,770
Net interest income			$	285,941					$	270,289					$	257,858

Numbers may not recalculate due to rounding conventions.

(a)The yield on tax-exempt loans and securities is computed on a fully tax-equivalent basis using a tax rate of 21%.

(b)Nonaccrual loans and loans held for sale have been included in the average balances.

6

Associated Banc-Corp Loan and Deposit Composition
($ in thousands)
Period end loan composition	Mar 31, 2025		Dec 31, 2024		Seql Qtr % Change		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Comp Qtr % Change
Commercial and industrial	$	10,925,769	$	10,573,741	3	%	$	10,258,899	$	9,970,412	$	9,858,329	11	%
Commercial real estate—owner occupied	1,118,363		1,143,741		(2)	%	1,120,849		1,102,146		1,095,894		2	%
Commercial and business lending	12,044,132		11,717,483		3	%	11,379,748		11,072,558		10,954,223		10	%
Commercial real estate—investor	5,597,442		5,227,975		7	%	5,070,635		5,001,392		5,035,195		11	%
Real estate construction	1,809,054		1,982,632		(9)	%	2,114,300		2,255,637		2,287,041		(21)	%
Commercial real estate lending	7,406,496		7,210,607		3	%	7,184,934		7,257,029		7,322,237		1	%
Total commercial	19,450,628		18,928,090		3	%	18,564,683		18,329,587		18,276,460		6	%
Residential mortgage	6,999,654		7,047,541		(1)	%	7,803,083		7,840,073		7,868,180		(11)	%
Auto finance	2,878,765		2,810,220		2	%	2,708,946		2,556,009		2,471,257		16	%
Home equity	654,140		664,252		(2)	%	651,379		634,142		619,764		6	%
Other consumer	310,940		318,483		(2)	%	262,806		258,460		258,603		20	%
Total consumer	10,843,499		10,840,496		—	%	11,426,214		11,288,684		11,217,802		(3)	%
Total loans	$	30,294,127	$	29,768,586	2	%	$	29,990,897	$	29,618,271	$	29,494,263	3	%
Period end deposit and customer funding composition	Mar 31, 2025		Dec 31, 2024		Seql Qtr % Change		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Comp Qtr % Change
Noninterest-bearing demand	$	6,135,946	$	5,775,657	6	%	$	5,857,421	$	5,815,045	$	6,254,135	(2)	%
Savings	5,247,291		5,133,295		2	%	5,072,508		5,157,103		5,124,639		2	%
Interest-bearing demand	9,075,133		9,124,741		(1)	%	8,605,578		8,284,017		8,747,127		4	%
Money market	6,820,038		6,637,915		3	%	6,095,206		6,294,895		6,721,674		1	%
Brokered CDs	4,197,512		4,276,309		(2)	%	4,242,670		4,061,578		3,931,230		7	%
Other time deposits	3,720,793		3,700,518		1	%	3,680,914		3,078,401		2,934,352		27	%
Total deposits	35,196,713		34,648,434		2	%	33,554,298		32,691,039		33,713,158		4	%
Other customer funding(a)	85,950		100,044		(14)	%	110,988		89,524		90,536		(5)	%
Total deposits and other customer funding	$	35,282,663	$	34,748,478	2	%	$	33,665,286	$	32,780,564	$	33,803,694	4	%
Network transaction deposits(b)	$	1,882,930	$	1,758,388	7	%	$	1,566,908	$	1,502,919	$	1,792,820	5	%
Net deposits and other customer funding(c)	$	29,202,221	$	28,713,780	2	%	$	27,855,707	$	27,216,066	$	28,079,644	4	%
Quarter average loan composition	Mar 31, 2025		Dec 31, 2024		Seql Qtr % Change		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Comp Qtr % Change
Commercial and industrial	$	10,583,318	$	10,338,865	2	%	$	9,884,246	$	9,915,894	$	9,729,718	9	%
Commercial real estate—owner occupied	1,141,167		1,135,624		—	%	1,087,144		1,095,334		1,086,537		5	%
Commercial and business lending	11,724,484		11,474,489		2	%	10,971,390		11,011,228		10,816,255		8	%
Commercial real estate—investor	5,415,412		5,120,608		6	%	5,085,090		4,964,394		5,041,518		7	%
Real estate construction	1,898,582		2,086,188		(9)	%	2,150,416		2,285,379		2,348,444		(19)	%
Commercial real estate lending	7,313,994		7,206,796		1	%	7,235,505		7,249,773		7,389,962		(1)	%
Total commercial	19,038,479		18,681,285		2	%	18,206,896		18,261,000		18,206,217		5	%
Residential mortgage	7,256,320		7,814,056		(7)	%	7,888,290		7,905,236		7,896,956		(8)	%
Auto finance	2,844,730		2,771,414		3	%	2,635,890		2,524,107		2,373,720		20	%
Home equity	657,625		656,792		—	%	642,463		630,855		625,686		5	%
Other consumer	313,828		278,370		13	%	260,547		258,366		266,443		18	%
Total consumer	11,072,503		11,520,632		(4)	%	11,427,191		11,318,564		11,162,805		(1)	%
Total loans(d)	$	30,110,982	$	30,201,918	—	%	$	29,634,087	$	29,579,564	$	29,369,022	3	%
Quarter average deposit composition	Mar 31, 2025		Dec 31, 2024		Seql Qtr % Change		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Comp Qtr % Change
Noninterest-bearing demand	$	5,640,123	$	5,738,557	(2)	%	$	5,652,228	$	5,712,115	$	5,882,052	(4)	%
Savings	5,162,468		5,132,247		1	%	5,125,147		5,133,688		4,928,031		5	%
Interest-bearing demand	8,031,707		7,623,230		5	%	7,394,550		7,265,621		7,490,119		7	%
Money market	6,079,551		5,924,269		3	%	5,942,147		5,995,005		6,116,604		(1)	%
Network transaction deposits	1,847,972		1,690,745		9	%	1,644,305		1,595,312		1,651,937		12	%
Brokered CDs	4,315,311		4,514,841		(4)	%	4,247,941		3,927,727		4,268,881		1	%
Other time deposits	3,756,332		3,713,579		1	%	3,314,507		2,999,936		2,929,434		28	%
Total deposits	34,833,464		34,337,468		1	%	33,320,825		32,629,404		33,267,057		5	%
Other customer funding(a)	87,693		94,965		(8)	%	104,115		87,161		101,483		(14)	%
Total deposits and other customer funding	$	34,921,157	$	34,432,433	1	%	$	33,424,940	$	32,716,565	$	33,368,540	5	%
Net deposits and other customer funding(c)	$	28,757,874	$	28,226,848	2	%	$	27,532,694	$	27,193,526	$	27,447,723	5	%

N/M = Not meaningful

Numbers may not recalculate due to rounding conventions.

(a) Includes repurchase agreements.

(b) Included above in interest-bearing demand and money market.

(c) Total deposits and other customer funding, excluding brokered CDs and network transaction deposits.

(d) Loans held for sale have been included in the average balances.

7

Associated Banc-Corp Non-GAAP Financial Measures Reconciliation
($ in millions)	1Q25			4Q24			3Q24			2Q24			1Q24
Selected equity and performance ratios(a)
Tangible common equity / tangible assets(b)	7.96		%	7.82		%	7.50		%	7.18		%	7.08		%
Return on average equity	8.91		%	(14.20)		%	8.09		%	11.16		%	7.81		%
Return on average tangible common equity(c)	12.34		%	(20.27)		%	11.52		%	16.25		%	11.31		%
Return on average common equity Tier 1(c)	11.82		%	(19.28)		%	10.53		%	14.54		%	10.27		%
Return on average tangible assets(c)	1.01		%	(1.55)		%	0.89		%	1.18		%	0.84		%
Average stockholders' equity / average assets	10.86		%	10.76		%	10.46		%	10.14		%	10.26		%
Tangible common equity reconciliation(b)
Common equity	$	4,492		$	4,411		$	4,219		$	4,048		$	3,975
Goodwill and other intangible assets, net	(1,134)			(1,137)			(1,139)			(1,141)			(1,143)
Tangible common equity	$	3,358		$	3,275		$	3,080		$	2,907		$	2,831
Tangible assets reconciliation(b)
Total assets	$	43,309		$	43,023		$	42,211		$	41,624		$	41,137
Goodwill and other intangible assets, net	(1,134)			(1,137)			(1,139)			(1,141)			(1,143)
Tangible assets	$	42,175		$	41,886		$	41,072		$	40,483		$	39,994
Average tangible common equity and average common equity Tier 1 reconciliation(b)
Average common equity	$	4,436		$	4,334		$	4,137		$	3,972		$	3,987
Average goodwill and other intangible assets, net	(1,136)			(1,138)			(1,140)			(1,142)			(1,145)
Average tangible common equity	3,301			3,196			2,997			2,830			2,843
Modified CECL transitional amount	—			22			22			22			22
Average accumulated other comprehensive loss(d)	65			152			173			242			188
Average deferred tax assets, net	25			23			24			25			12
Average common equity Tier 1	$	3,390		$	3,394		$	3,215		$	3,118		$	3,065
Average tangible assets reconciliation(b)
Average total assets	$	42,631		$	42,072		$	41,390		$	41,101		$	40,769
Average goodwill and other intangible assets, net	(1,136)			(1,138)			(1,140)			(1,142)			(1,145)
Average tangible assets	$	41,495		$	40,934		$	40,250		$	39,958		$	39,625
Adjusted net income (loss) reconciliation(c)
Net income (loss)	$	102		$	(162)		$	88		$	116		$	81
Other intangible amortization, net of tax	2			2			2			2			2
Adjusted net income (loss)	$	103		$	(160)		$	90		$	117		$	83
Adjusted net income (loss) available to common equity reconciliation(c)
Net income (loss) available to common equity	$	99		$	(164)		$	85		$	113		$	78
Other intangible amortization, net of tax	2			2			2			2			2
Adjusted net income (loss) available to common equity	$	100		$	(163)		$	87		$	114		$	80
Pre-tax pre-provision income (loss)(e)
Income (loss) before income taxes	$	121		$	(178)		$	108		$	103		$	101
Provision for credit losses	13			17			21			23			24
Pre-tax pre-provision income (loss)	$	134		$	(161)		$	129		$	126		$	125
Period end core customer deposits reconciliation
Total deposits	$	35,197		$	34,648		$	33,554		$	32,691		$	33,713
Network transaction deposits	(1,883)			(1,758)			(1,567)			(1,503)			(1,793)
Brokered CDs	(4,198)			(4,276)			(4,243)			(4,062)			(3,931)
Core customer deposits	$	29,116		$	28,614		$	27,745		$	27,127		$	27,989
Average core customer deposits reconciliation
Average total deposits	$	34,833		$	34,337		$	33,321		$	32,629		$	33,267
Average network transaction deposits	(1,848)			(1,691)			(1,644)			(1,595)			(1,652)
Average brokered CDs	(4,315)			(4,515)			(4,248)			(3,928)			(4,269)
Average core customer deposits	$	28,670		$	28,132		$	27,429		$	27,106		$	27,346

Numbers may not recalculate due to rounding conventions.

(a)These capital measurements are used by management, regulators, investors, and analysts to assess, monitor, and compare the quality and composition of our capital with the capital of other financial services companies.

(b)The ratio tangible common equity to tangible assets excludes goodwill and other intangible assets, net. This financial measure has been included as it is considered to be a critical metric with which to analyze and evaluate financial condition and strength.

(c)Adjusted net income and adjusted net income available to common equity, which are used in the calculation of return on average tangible assets and return on average tangible common equity, respectively, add back other intangible amortization, net of tax.

(d)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. This adjustment reflects that election.

(e)Management believes this measure is meaningful because it reflects adjustments commonly made by management, investors, regulators, and analysts to evaluate the adequacy of earnings per common share, provide greater understanding of ongoing operations, and enhance comparability of results with prior periods.

8

Associated Banc-Corp Non-GAAP Efficiency Ratios Reconciliation(a)
($ in millions)	1Q25			4Q24			3Q24			2Q24			1Q24
Total expense for efficiency ratios reconciliation
Noninterest expense	$	211		$	224		$	201		$	196		$	198
Less: Other intangible amortization	2			2			2			2			2
Total expense for fully tax-equivalent efficiency ratio	208			222			198			194			195
Less: FDIC special assessment	—			—			—			—			8
Less: Announced initiatives(b)	—			14			—			—			—
Total expense for adjusted efficiency ratio	$	208		$	208		$	198		$	194		$	188
Total revenue for efficiency ratios reconciliation
Net interest income	$	286		$	270		$	263		$	257		$	258
Noninterest income	59			(207)			67			65			65
Less: Investment securities gains (losses), net	—			(148)			—			—			4
Fully tax-equivalent adjustment	4			4			4			4			4
Total revenue for fully tax-equivalent efficiency ratio	349			215			333			325			323
Less: Announced initiatives(b)	(7)			(130)			—			—			—
Total revenue for adjusted efficiency ratio	$	356		$	346		$	333		$	325		$	323
Efficiency ratios (expense / revenue)
Fully tax-equivalent efficiency ratio	59.72		%	103.11		%	59.51		%	59.51		%	60.56		%
Adjusted efficiency ratio	58.55		%	60.10		%	59.51		%	59.51		%	58.18		%

Nonrecurring Item Reconciliation
($ in millions, except per share data)	4Q24		4Q24 per share data (diluted)
GAAP net (loss)	$	(162)	$	(1.03)
Loss on mortgage portfolio sale(c)	130		0.82
Provision on initiatives	1		0.01
Net loss on sale of investments(c)	148		0.93
Loss on prepayments of FHLB advances	14		0.09
FDIC special assessment	—		—
Tax effect	(39)		(0.24)
Net income, excluding nonrecurring items, net of tax	94		$	0.57
Less preferred stock dividends	(3)
Net income available to common equity, excluding nonrecurring items, net of tax	$	91

Nonrecurring Item Noninterest Income Reconciliation			YTD
($ in millions)	1Q25		Dec 2024		4Q24
GAAP noninterest income (loss)	$	59	$	(9)	$	(207)
Loss on mortgage portfolio sale(c)	7		130		130
Net loss on sale of investments(c)	—		148		148
Noninterest income, excluding nonrecurring items	$	66	$	269	$	72
Nonrecurring Item Noninterest Expense Reconciliation			YTD
($ in millions)			Dec 2024		4Q24
GAAP noninterest expense			$	818	$	224
Loss on prepayments of FHLB advances(c)			(14)		(14)
Noninterest expense, excluding nonrecurring items			$	804	$	210

Numbers may not recalculate due to rounding conventions.

(a)Prior periods have been adjusted to conform with current period presentation.

(b)Announced initiatives include the loss on mortgage portfolio sale and loss on prepayment of FHLB advances as a result of balance sheet repositionings that the Corporation announced in the fourth quarter of 2024. The net loss on the sale of investments is already excluded from noninterest income within the efficiency ratio.

(c)These items classified as nonrecurring items are the result of balance sheet repositionings that the Corporation announced in the fourth quarter of 2024.

9

EX-99.2

April 24, 2025 First Quarter 2025 Earnings Presentation Associated Banc-Corp Exhibit 99.2

1 Important Disclosures Important note regarding 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. Trademarks: All trademarks, service marks, and trade names referenced in this material are official trademarks and the property of their respective owners. Presentation: Within the charts and tables presented, certain segments, columns and rows may not sum to totals shown due to rounding. Non-GAAP Measures: This presentation includes certain non-GAAP financial measures. These financial measures have been included as they provide meaningful supplemental information to assess trends in the Corporation’s results of operations. These non- GAAP measures are provided in addition to, and not as substitutes for, measures of our financial performance determined in accordance with GAAP. Our calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related GAAP measures. Unless otherwise noted, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found at the end of this presentation.

2 First Quarter 2025 Results1 1 All figures shown on an end of period basis unless otherwise noted. Growth reflects 1Q 2025 results compared to 4Q 2024. 2 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 3 Accruing loans 30-89 days past due + accruing loans 90+ days past due. ▪ GAAP diluted EPS of $0.59 ▪ Total loan growth of $526 million ▪ Total C&I loan growth of $352 million ▪ Total deposit growth of $548 million ▪ Total core customer deposit2 growth of $503 million ▪ Loans / deposits of 86.07% ▪ Net interest income of $286 million ▪ Net interest margin of 2.97% ▪ Noninterest income of $59 million ▪ Noninterest expense of $211 million ▪ Provision for credit losses of $13 million ▪ ACLL / total loans of 1.34% ▪ NCOs / avg. loans (annualized) of 0.12% $0.59 Diluted Earnings Per Common Share +1.8% Total Loan Growth +16 bps Net Interest Margin Change +1.6% Total Deposit Growth +1.8% Core Customer Deposit Growth2 0.15% Total Delinquencies3 / Total Loans 10.11% CET1 Ratio 7.96% TCE Ratio2 $20.25 Tangible Book Value / Share ASB reported net income available to common equity of $99 million, or $0.59 per common share

3 Phase 2 Investments Complete; Positioned for Growth1 Results as of 1Q 20251 ▪ Commercial & Business RMs up nearly 30% vs. 3Q23 ▪ C&I loans up $1.1 billion as compared to 1Q24 ▪ $1.6B in net new Mass Affluent deposits since Dec. 2022 launch ▪ Net promoter score2 of 55 in 1Q25, a record-high since internal tracking began in 2017 ▪ Total checking household growth of 1% (annualized) in 1Q25 ▪ Reduced mortgage loan concentration from 29% in 3Q23 to 23% in 1Q25 1 All updates as of or for the period ended March 31, 2025 unless otherwise noted. 2 Annual net promoter score as measured by a customer’s likelihood to recommend Associated Bank to family & friends per our internal Consumer Relationship Survey. 2025 YTD through March 31, 2025. 3 Projections are on an end of period basis as of and for the year ended 12/31/2025 as compared to 2024 results as of 12/31/2024 unless otherwise noted. 4 Core customer deposits is a non-GAAP financial measure which excludes network transaction deposits and brokered CDs from total deposits. We have not provided a reconciliation of the projection for core customer deposits to the projection for total deposits due to the low visibility and unpredictability of the components of total deposits necessary for such reconciliation. Added Top Talent in Key Leadership Roles Commercial RM Expansion Quarterly Product & Digital Upgrades Repositioned Balance Sheet Rebalanced Consumer Lending Approach We are positioned to attract & deepen relationships, take commercial market share & enhance profitability 5-6% Loan Growth $1.2 billion C&I Loan Growth 1-2% Total Deposit Growth 4-5% Core Customer Deposit Growth 2% Customer CKG HH Growth 12-13% Net Interest Income Growth FY 2025 Outlook3 4

4 Commercial & Business Lending Commercial Real Estate Residential Mortgage $3.3 $3.4 $3.5 $3.7 $3.8 $7.9 $7.9 $7.9 $7.8 $7.3 $7.4 $7.2 $7.2 $7.2 $7.3 $10.8 $11.0 $11.0 $11.5 $11.7 $29.4 $29.6 $29.6 $30.2 $30.1 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 ($ in billions) Commercial & Business Lending Commercial Real Estate Residential Mortgage Auto Finance, Home Equity & Other Consumer Average Quarterly Loans ($ in millions) $(174) $(48) $(25) $(18) $69 $352 $369 Commercial & Industrial CRE-Investor Period End Loan Change (12/31/2024 to 3/31/2025) CRE Construction Auto Finance Home Equity & Other Consumer Residential Lending Quarterly Loan Trends Total period end loans increased 2% vs. 4Q24, led by commercial Auto Finance, Home Equity & Other Consumer CRE-Owner Occupied Total Loans +$526 (+2%) Reflects $695M loan sale settling on 1/29/25

5 $1.7 $1.6 $1.6 $1.7 $1.8 $4.3 $3.9 $4.2 $4.5 $4.3 $2.9 $3.0 $3.3 $3.7 $3.8 $6.1 $6.0 $5.9 $5.9 $6.1 $4.9 $5.1 $5.1 $5.1 $5.2 $7.5 $7.3 $7.4 $7.6 $8.0 $5.9 $5.7 $5.7 $5.7 $5.6 $33.3 $32.6 $33.3 $34.3 $34.8 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Average Quarterly Deposits ($ in billions) Period End Funding Change (12/31/2024 to 3/31/2025) ($ in millions) Customer CDs Savings Money Market Network Transaction Deposits Noninterest-Bearing Demand Interest-Bearing Demand Brokered CDs 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. $(124) $20 $114 $131 $360 Interest-Bearing Demand Money Market Core Customer Deposits1 +$503 (+2%) Wholesale Funding Sources $(186) (-2%) Total Deposits +$548 (+2%) Noninterest-Bearing Demand Quarterly Deposit & Funding Trends Savings Total period end deposits & core customer deposits1 both increased 2% vs. the prior quarter Customer CDs $(405) $(79) $125 $173 FHLB Advances Other Wholesale Funding Network Transaction Deposits Brokered CDs

6 Quarterly Average Yields (%) Average Yield Trends 7.56 7.45 7.52 7.09 6.717.22 7.24 7.27 6.74 6.43 5.52 5.58 5.72 5.65 5.59 3.48 3.51 3.56 3.61 3.68 3.55 3.69 3.66 3.64 4.22 3.32 3.30 3.33 3.10 2.91 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Residential Mortgage Loans Commercial & Business Lending Loans Commercial Real Estate Loans Total Interest-Bearing Deposits Auto Finance Loans Asset & Liability Yield / Rate Trends (%) Rate on Total Interest- Bearing Liabilities Yield on Total Earning Assets 5.64 5.65 5.68 5.46 5.45 3.55 3.60 3.59 3.29 3.06 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Investments and Other Earning asset yields decreased just 1 bp during 1Q, while interest-bearing liability costs decreased 23 bps

7 Net Interest Income & Net Interest Margin Trends Net Interest Income & Net Interest Margin $258 $257 $263 $270 $286 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2.81%2.78%2.75%2.79% 2.97% Quarterly Net Interest Income Quarterly Net Interest Margin ($ in millions) 2.97% 2.97% 0.03% 3.00% 1Q 2025 Actual 1Q 2025 Pro Forma 1Q 2025 Pro Forma Net Interest Margin1 1 Pro forma net interest margin reflects the impact of the residential mortgage loan sale completed in January 2025 as if the transaction was fully completed on December 31, 2024. + The mortgage loan sale we completed in January 2025 would have added an incremental ~3 bps to our 1Q NIM if the transaction were completed on 12/31/2024. We expect the full financial impact of the balance sheet repositioning announced in December 2024 to be realized beginning in 2Q 2025. NII increased by $16 million & NIM expanded by 16 bps vs. the prior quarter

8 ▪ Added $2.9 billion of fixed-rate prime/super prime Auto Finance balances since 3Q 2021 ▪ Gradually built receive fixed swaps portfolio to protect against downside rate risk, with notional balances of ~$2.85 billion as of 3/31/2025 ▪ Emphasized shorter-term durations on contractual funding sources to maintain repricing flexibility in a falling rate environment Interest Rate Risk Management1 Balance Sheet Actions Since 2021 Contractual Funding Obligations ≤ 1 Yr. 1-3 Yrs. 3+ Yrs. Total Time Deposits $7.8 $0.1 $0.0 $7.9 Short-Term Funding $0.3 - - $0.3 FHLB Advances $1.8 $0.0 $0.2 $2.0 Other Long-Term Funding $0.0 $0.0 $0.6 $0.6 Total $10.0 $0.1 $0.8 $10.9 ($ in billions) 1 All updates as of or for the period ended March 31, 2025 unless otherwise noted. 2 In both the down 100 and down 200 for 1Q 2022, scenario rates are floored at zero. We’ve taken proactive steps to reduce our asset sensitivity & protect NII in a falling rate environment Estimated NII Sensitivity Profile (%) 10.4 6.8 3.2 2.6 5.1 3.4 1.7 1.4 -14.9 -2.3 -1.0 -0.6 -14.9 -4.4 -1.9 -1.5 1Q 2022 1Q 2023 1Q 2024 1Q 2025 Up 200 bps Up 100 bps Down 100 bps Down 200 bps (12-Month Ramp, Dynamic Forecast) 2

9 Cash & Investment Securities Portfolio 18.8% 19.1% 19.2% 19.8% 20.1% 2.1% 2.3% 2.3% 2.4% 2.9% 20.9% 21.4% 21.5% 22.2% 23.0% 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Securities Period End Securities + Cash / Total Assets Cash $3.7 $3.9 $4.2 $4.6 $4.8 $3.8 $3.8 $3.8 $3.7 $3.7 $0.2 $0.2 $0.2 $0.2 $0.2 $7.8 $7.9 $8.1 $8.5 $8.7 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Held to MaturityAvailable for Sale ($ in billions) Period End Investment Securities Other Securities Average Investment Securities Yields We continue to target securities + cash / total assets of 22% to 24% in 2025 3.55% 3.69% 3.66% 3.64% 4.22% 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025

10 $22 $23 $24 $24 $22 $12 $12 $14 $13 $13 $11 $12 $12 $12 $10 $4 $5 $4 $9 $4 $3 $3 $2 $3 $4 $13 $11 $11 $10 $5 $65 $65 $67 $72 $59 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Adj. 1Q 2025 Noninterest Income Trends ($ in millions) 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 2 Other is comprised of other fee-based revenue, bank and corporate owned life insurance, asset gains (losses), net, investment securities gains (losses), net, and other noninterest income. Quarterly Noninterest Income Trends Wealth Mgmt. Fees Capital Markets, net Other2 4Q 2024 GAAP noninterest income impacted by a balance sheet repositioning with a $130M loss on a mortgage portfolio sale and a $148M net loss on a sale of investments (both pre-tax) 1 1Q GAAP noninterest income was impacted by the settlement of the mortgage loan sale announced in 4Q 4Q 2024 GAAP $(207) 1Q 2025 GAAP noninterest income includes an additional $7M pre-tax loss on a mortgage portfolio sale, primarily driven by the FAS91 impact of the mortgage portfolio sale announced in 4Q 2024 and settled in 1Q 2025 Mortgage Banking, net Service Charges & Deposit Account Fees Card-Based Fees

11 $119 $122 $121 $126 $124 $26 $27 $27 $27 $27 $14 $13 $14 $14 $15 $14 $7 $8 $9 $10 $24 $27 $31 $34 $34 $14 $198 $196 $201 $224 $211 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Efficiency Ratio (%)Noninterest Expense Trends Noninterest Expense Trends 1 Other is comprised of business development & advertising, equipment, legal & professional, other intangible amortization, and other noninterest expenses. 2 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. ($ in millions) Adjusted Efficiency Ratio2Fully Tax-Equivalent Efficiency Ratio 60.6 59.5 59.5 103.1 59.758.2 59.5 59.5 60.1 58.6 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Noninterest Expense / Average Assets (%) 1.95 1.92 1.93 2.12 2.00 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 We have maintained noninterest expense levels at approximately 2% of average assets Personnel Other1 Technology FDIC Assessment Loss on Prepayment of FHLB Occupancy (Annualized)

12 Capital Ratios (%) 7.82 10.01 10.58 12.61 7.96 10.11 10.68 12.75 TCE Ratio CET1 Tier 1 Capital Total Capital 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. Capital Profile 1 4Q 2024 1Q 2025 We continue to target a CET1 range of 10% to 10.5% in 2025 $18.78 $19.28 $20.37 $19.71 $20.25 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Tangible Book Value / Share CET1 Including AOCI1 (%) CET1 Ratio Incl. AOCICET1 Ratio 9.43 9.68 9.72 10.01 10.11 8.79 9.01 9.38 9.79 10.01 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025

13 ACLL / Total Loans (%)ACLL1 Update ▪ ACLL increased $4 million from the prior quarter to $407 million, driven primarily by incremental credit movement coupled with general macroeconomic trends ▪ CECL forward-looking assumptions based on Moody’s February 2025 Baseline forecast 1 Includes funded and unfunded reserve for loans, excludes reserve for HTM securities. ($ in thousands) Allowance for Credit Losses on Loans (ACLL) 1.31 1.32 1.33 1.35 1.34 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Our ACLL percentage decreased by 1 basis point vs. the prior quarter to 1.34% Loan Category ACLL ACLL / Loans ACLL ACLL / Loans ACLL ACLL / Loans C&BL 157,933$ 1.44% 160,620$ 1.37% 172,257$ 1.43% CRE - Investor 72,512 1.44% 72,125 1.38% 79,149 1.41% CRE - Construction 64,225 2.81% 71,090 3.59% 59,873 3.31% Residential Mortgage 35,915 0.46% 32,576 0.46% 34,160 0.49% Other Consumer 57,198 1.71% 65,910 1.74% 61,184 1.59% Total 387,782$ 1.31% 402,322$ 1.35% 406,624$ 1.34% 3/31/202512/31/20243/31/2024

14 Net Charge Offs & Provision Total Delinquent Loans Credit Quality Trends $2 $2 $7 $3 $3 $48 $35 $49 $77 $44 $51 $37 $56 $80 $47 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 ($ in millions) Accruing Loans 30-89 Days PD $22 $21 $13 $12 $9 $24 $23 $21 $17 $13 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Total Net Charge Offs Provision for Credit Losses on Loans Accruing Loans 90+ Days PD Total Criticized Loans $178 $154 $128 $123 $135 $484 $528 $688 $751 $740 $155 $118 $229 $396 $451 $818 $801 $1,046 $1,271 $1,325 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 ($ in millions) ($ in millions) Nonaccrual Loans $85 $83 $86 $86 $89 $19 $48 $19 $17 $32 $74 $23 $24 $21 $14 $178 $154 $128 $123 $135 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 ($ in millions) CREConsumer Commercial & Business Lending Substandard AccruingSpecial Mention Nonaccrual Loans 1Q 2025 credit quality remained solid with delinquencies down $33 million vs. 4Q 2024 & NCOs of just $9 million

15 3/31/2025 % of Total Loans Residential Mortgage $7,000 23.1% Auto Finance $2,879 9.5% Home Equity $654 2.2% Credit Cards $189 0.6% Other $122 0.4% Total Consumer $10,843 35.8% 1 All data as of or for the period ended March 31, 2025 unless otherwise noted. Prime/Super Prime Consumer Loan Portfolio High-Quality Consumer Loan Portfolio1 787 775 793 791 Resi. Mortgage Auto Finance Home Equity Credit Cards 94% of our $10.8 billion consumer loan portfolio is prime / super prime Weighted Avg. Portfolio FICO Scores 86% 8% 6% Portfolio FICOs Prime (660-719) Super Prime (720+) Exceptions & Other Period End Consumer Loans ($ in millions)

16 1 Projections are on an end of period basis as of and for the year ended 12/31/2025 as compared to 2024 results as of 12/31/2024 unless otherwise noted. 2 Core customer deposits is a non-GAAP financial measure which excludes network transaction deposits and brokered CDs from total deposits. We have not provided a reconciliation of the projection for core customer deposits to the projection for total deposits due to the low visibility and unpredictability of the components of total deposits necessary for such reconciliation. 3 Adjusted 2024 figures have been provided for noninterest income and noninterest expense to exclude the impact of nonrecurring items incurred as a result of a balance sheet repositioning that the Corporation announced in the fourth quarter of 2024. These figures are non-GAAP financial measures. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 4 Projections are on an end of period basis as of and for the year ended 12/31/2025 as compared to adjusted 2024 results as of 12/31/2024 unless otherwise noted. 5 2025 noninterest income guidance excludes the $7 million loss on mortgage sale incurred in the first quarter of 2025 as a result of a balance sheet repositioning that the Corporation announced in the fourth quarter of 2024. GAAP FY 2024 Result Adjusted FY 2024 Result3 FY 2025 Guidance4 Noninterest Income $(9)M $269M Up 0% to 1%5 Noninterest Expense $818M $804M Up 3% to 4% FY 2025 Guidance1 Total Loan Growth Up 5% to 6% Total Deposit Growth Up 1% to 2% Core Customer Deposit Growth2 Up 4% to 5% Net Interest Income Up 12% to 13% Effective Tax Rate 19% to 21% CET1 Capital Ratio 10% to 10.5% FY 2025 Outlook

Appendix

18 Commercial & Business Lending 39% Commercial Real Estate 24% Consumer 37% Corporate & Commercial Specialty 21% Community, Consumer & Business 61% Risk Mgmt & Shared Services 18% Associated Banc-Corp (NYSE: ASB)1 $43B Assets $30B Loans $5B Equity $35B Deposits Average Loans Average Deposits 1 All figures as of or for the quarter ended March 31, 2025 unless otherwise noted. Branch footprint & loan production office locations map updated as of April 14, 2025. 2 Based on assets as of December 31, 2024. 3 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. 10.11% CET1 Ratio 183 Branches ~4,000 Employees 7.96% TCE Ratio3 With roots dating back to 1861, ASB is the largest bank holding company based in Wisconsin2

191 The impact also includes a $3 million provision release for the loan sale and a $4 million provision build for the purchase of credit card balances during the quarter. Balance Sheet Repositioning Summary Estimated 12/4/2024 Actions Taken as of 12/31/2024 All Actions Complete as of 3/31/2025 Total Loans Sold $0.2B in ARMs & $0.5B in fixed-rate mortgages Wtd. avg. yield ~2.99% $723M in residential mortgage balances moved to loans held for sale $695M in residential mortgage balances sold on January 29, 2025 Securities Sold $1.3B in AFS securities Wtd. avg. yield 1.87% Sold $1.295B in AFS securities Wtd. avg. yield 1.87% Securities sale completed Nonrecurring Loss (After-Tax) $253M Reported $256M after-tax loss for loan sale1, securities sale, credit card balance purchase1 & loss on prepayment of FHLB Reported additional $6M after-tax loss in 1Q 2025 after closing of loan sale (FAS91 & valuation adjustments) Use of Proceeds Reinvest into $1.5B of GNMA securities Wtd. avg. yield ~5.08% ~4 yr. duration Repay $0.6B of FHLB advances Wtd. avg. cost ~5.90% Reinvested into $1.486B of GNMA securities Wtd. avg. yield ~5.08% 4.15 yr. duration Purchased $55M in existing customer credit card balances Paid down $600M of FHLB advances at 6.17% and temporarily borrowed $600M at a spread reduction of 1.43% Securities reinvestment completed Credit card balance purchase completed $600M of FHLB advances repaid in 1Q 2025 upon closing of loan sale Actions taken as a result of the balance sheet repositioning announced during the fourth quarter of 2024

20 Improving our Return Profile Over Time1 Strategy Progress Since 2021 Growing diversified asset classes to decrease reliance on legacy low-yielding, low-relationship asset classes ▪ Increased Commercial & Business RMs by ~50% since 4Q21 ▪ Increased total commercial loans by $3.8B vs. 4Q21 (+25%) ▪ Added $2.9B in fixed-rate prime/super prime Auto Finance balances since 3Q21 ▪ Exited TPO mortgage business in 1Q23 ▪ Sold $969M in mortgage loans & pivoted to “originate to sell” model in 4Q23 ▪ Sold $695M in mortgage loans in 1Q25 ▪ Shifted to balanced RM scorecard to deepen Commercial relationships ▪ Modernized digital banking experience ▪ Quarterly upgrades to products & services ▪ $1.6B in net new Mass Affluent deposits ▪ Paid down $849M of FHLB advances in 4Q23 and an additional $600M in 1Q25 ▪ Added new Specialty Deposit & Payment Solutions vertical in 4Q24 ▪ Added $1.2B of core customer deposits2 in 2024 LiabilitiesAssets Auto Finance Relationship Commercial Low- Relationship Mortgage Low- Relationship Commercial Wholesale Funding Sources Core Customer Deposits2 Attracting & deepening customer relationships to decrease reliance on wholesale & network funding sources 1 All updates as of or for the period ended March 31, 2025 unless otherwise noted. 2 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures. Our efforts to remix the balance sheet & drive toward improved profitability are on track

21 Stable, Granular Deposit Portfolio 23% 22% 22% 23% 26% 77% 78% 78% 77% 74% $33.7 $32.8 $33.8 $34.9 $35.2 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Period End Deposit Trends (Associated Bank, N.A.) ($ in billions) Total of Insured & Collateralized Deposits Total of Uninsured & Uncollateralized Deposits As of 3/31/2025, ASB’s total liquidity sources covered 143% of uninsured, uncollateralized deposits Liquidity Sources 12/31/2024 3/31/2025 Federal Reserve Balance $451.3 $705.7 FHLB Chicago Capacity $7,097.4 $6,362.6 Fed Discount Window Capacity $2,778.3 $3,308.3 Funding Available Within One Business Day1 $10,327.0 $10,376.6 Fed Funds Lines $1,164.0 $1,284.0 Brokered Deposits Capacity2 $418.2 $414.2 Unsecured Debt Capacity3 $1,000.0 $1,000.0 Total Liquidity $12,909.2 $13,074.8 143% of uninsured, uncollateralized deposits 1 Estimated based on normal course of operations with the indicated institution. 2 Availability based on internal policy limitations. The Corporation includes outstanding deposits that have received a primary purpose exemption in the brokered deposit classification as they have similar funding characteristics and risk as brokered deposits. 3 Estimated availability based on the Corporation’s current internal funding considerations.

22 $3.3 $3.4 $3.6 $3.8 $3.8 $7.9 $7.8 $7.8 $7.0 $7.0 $7.3 $7.3 $7.2 $7.2 $7.4 $11.0 $11.1 $11.4 $11.7 $12.0 $29.5 $29.6 $30.0 $29.8 $30.3 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 ($ in billions) Commercial & Business Lending Commercial Real Estate Residential Mortgage Auto Finance, Home Equity & Other Consumer ($ in millions) Average Loan Change (4Q 2024 to 1Q 2025)Period End Quarterly Loan Trends $(188) $6 $36 $73 $244 $295 CRE-Investor CRE Construction Auto Finance Commercial & Industrial Residential Mortgage1 Additional Quarterly Loan Trends Commercial & Business Lending Commercial Real Estate Residential Mortgage Auto Finance, Home Equity & Other Consumer $(558) CRE-Owner Occupied Home Equity & Other Consumer 1 $695 million in residential mortgage balances were sold in 1Q 2025 as a result of the balance sheet repositioning announced during 4Q 2024. Total Loans ($91) (-0.3%)

23 $1.8 $1.5 $1.6 $1.8 $1.9 $3.9 $4.1 $4.2 $4.3 $4.2 $2.9 $3.1 $3.7 $3.7 $3.7 $6.2 $5.9 $5.8 $6.0 $6.1 $5.1 $5.2 $5.1 $5.1 $5.2 $7.5 $7.2 $7.3 $8.0 $7.9 $6.3 $5.8 $5.9 $5.8 $6.1 $33.7 $32.7 $33.6 $34.6 $35.2 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Period End Quarterly Deposits ($ in billions) Average Funding Change (4Q 2024 to 1Q 2025) ($ in millions) Customer CDs Savings Money Market Network Transaction Deposits Noninterest-Bearing Demand Interest-Bearing Demand Brokered CDs $(98) $30 $43 $155 $408 Noninterest-Bearing Demand Money Market $(205) $(200) $140 $157 Network Transaction Deposits Other Wholesale Funding Core Customer Deposits1 +$538 (+2%) Wholesale Funding Sources $(107) (-1%) Total Deposits +$496 (+1%) Interest-Bearing Demand FHLB Advances Additional Quarterly Deposit & Funding Trends Customer CDs Savings Brokered CDs 1 This is a non-GAAP financial measure. See appendix for a reconciliation of non-GAAP financial measures to GAAP financial measures.

24 Total Loans Outstanding Balances as of March 31, 2025 ($ in millions) 1 All values as of period end. 2 North American Industry Classification System. 3/31/2025 1 % of Total Loans 3/31/2025 1 % of Total Loans C&BL (by NAICS 2 ) CRE (by property type) Utilities 2,726$ 9.0% Multi-Family 3,254$ 10.7% Manufacturing & Wholesale Trade 2,625 8.7% Industrial 1,643 5.4% Real Estate (includes REITs) 2,077 6.9% Office 915 3.0% Finance & Insurance 705 2.3% Retail 640 2.1% Mortgage Warehouse 661 2.2% Hotel/Motel 201 0.7% Retail Trade 558 1.8% Warehouse 162 0.5% Rental and Leasing Services 484 1.6% Medical 155 0.5% Transportation and Warehousing 433 1.4% Single Family Construction 148 0.5% Construction 386 1.3% Land 97 0.3% Health Care and Social Assistance 333 1.1% Self Storage 14 0.0% Professional, Scientific, and Tech. Serv. 317 1.0% Other 177 0.6% Waste Management 193 0.6% Total CRE 7,406$ 24.4% Information 119 0.4% Accommodation and Food Services 116 0.4% Consumer Arts, Entertainment, and Recreation 60 0.2% Residential Mortgage 7,000$ 23.1% Management of Companies & Enterprises 60 0.2% Auto Finance 2,879 9.5% Educational Services 28 0.1% Home Equity 654 2.2% Public Administration 16 0.1% Credit Cards 189 0.6% Mining 3 0.0% Student Loans 47 0.2% Agriculture, Forestry, Fishing and Hunting 1 0.0% Other 75 0.2% Other 144 0.5% Total Consumer 10,843$ 35.8% Total C&BL 12,044$ 39.8% Total Loans 30,294$ 100.0%

25 Multi-Family 44% Retail 9% Office 12% Industrial 22% Warehouse 2% Hotel / Motel 3% Other 8% Wisconsin 27% Illinois 20% Minnesota 9% Other Midwest 12% Texas 6% Other 26% Manufacturing & Wholesale Trade 22% Power & Utilities 23% Real Estate 17% Mortgage Warehouse 5% Finance & Insurance 6% 1 Excludes Other Consumer portfolio. 2 Other Midwest includes Missouri, Indiana, Ohio, Michigan and Iowa. Wind 29% Natural Gas 26% Solar 19% Transmission, Control & Distribution 6% Other 19% Wisconsin 22% Illinois 15% Minnesota 7% Texas 6% Other Midwest 10% Other 40% Wisconsin 19% Illinois 14% Minnesota 10% Other Midwest2 21% Texas 10% Other 27% 2 2 Loan Stratification Outstanding Balances as of March 31, 2025 C&BL by Geography $12.0 billion Power & Utilities Lending $2.7 billion C&BL by Industry $12.0 billion Total Loans1 CRE by Geography $7.4 billion CRE by Property Type $7.4 billion

26 Swaps Update Contractual swap balances as of 3/31/2025 $2.85 $2.45 $2.45 $2.00 $1.75 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 3.89%3.89%3.82% 3.83% 3.79% ($ in billions) Notional Balances Weighted Average Yield

27 4% 0% 1Q 2017 1Q 2025 7% 1% 1Q 2009 1Q 2025 Strengthened Balance Sheet1 $9.4 $11.3 $2.2 $7.0$4.3 $12.0 $15.9 $30.3 1Q 2009 1Q 2025 Land & For-Sale Housing Loans / Total Loans Oil & Gas Loans / Total Loans Total Loan Portfolio Evolution ($ in billions) Commercial & Business Lending Residential Mortgage All Other Loans1 All figures shown on an end of period basis unless otherwise noted. 41% 63% 1Q 2015 – 1Q 2025 C&BL (ex. Oil & Gas) 0.16% Blended 0.09%Residential Mortgage 0.02% ~23% of total NCOs during a peak loss period from 1Q 2009 through 1Q 2011 ~68% of total NCOs from 1Q 2017 through 1Q 2023 1Q 2009 – 1Q 2025 C&BL (ex. Oil & Gas) 0.42% Blended 0.27%Residential Mortgage 0.09% WAvg. NCO Rates We’ve exited or greatly reduced certain historically volatile portfolios while growing historically stable assets

28 Multi-Family 44% Retail 9% Office 12% Industrial 22% Other 13% Consumer 36% Com'l & Business Lending 40% CRE 24% Wisconsin 19% Illinois 14% Minnesota 10% Other Midwest2 21% Texas 10% Other 27% 1 All updates as of or for the period ended March 31, 2025 unless otherwise noted. 2 Other Midwest includes Missouri, Indiana, Ohio, Michigan and Iowa. 3 Accruing loans 30-89 days past due + accruing loans 90+ days past due. 4 Calculated on an annualized basis. Negative values indicate a net recovery. 5 Calculated based on the 10-year Treasury rate plus 300 basis points/25-year amortization. 6 Property class mix determined by third-party vendor partner mapping of portfolio. High-Quality Commercial Real Estate Portfolio1 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 Portfolio LTV 59% 59% 58% 57% 57% Delinquencies3/Loans 0.28% 0.01% 0.22% 0.50% 0.03% NALs/Loans 0.26% 0.67% 0.26% 0.23% 0.43% ACLL/Loans 1.87% 1.98% 2.20% 1.99% 1.88% NCOs/Avg. Loans4 0.00% 0.25% 0.00% 0.37% 0.05% CRE Credit Quality CRE Loan Portfolio Granularity % of Total Loans Largest Single CRE Borrower 0.16% Top 10 Largest CRE Borrowers 1.21% Largest CRE Property Type (Multi-Fam) 10.74% CRE Office Loans 3.02% CRE by Geography CRE by Property Type Total Loans by Segment CRE Office Highlights WAvg. Debt Service Coverage Ratio5 1.20x 2025 Remaining Maturities $344 million Central Business District vs. Suburban ~79% Suburban Property Class Mix6 ~54% Class A ASB has built a diversified CRE portfolio by partnering with well-known developers in stable Midwest markets

29 Period End Core Customer Deposits Reconciliation ($ in millions) 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 Total deposits $35,197 $34,648 $33,554 $32,691 $33,713 Network transaction deposits (1,883) (1,758) (1,567) (1,503) (1,793) Brokered CDs (4,198) (4,276) (4,243) (4,062) (3,931) Core customer deposits $29,116 $28,614 $27,745 $27,127 $27,989 Reconciliation & Definitions of Non-GAAP Items 1 The ratio tangible common equity to tangible assets excludes goodwill and other intangible assets, net. This financial measure has been included as it is considered to be a critical metric with which to analyze and evaluate financial condition and capital strength. 2 These items classified as nonrecurring items are the result of a balance sheet repositioning that the Corporation announced in the fourth quarter of 2024. Quarterly Average Core Customer Deposits Reconciliation ($ in millions) 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 Total deposits $34,833 $34,337 $33,321 $32,629 $33,267 Network transaction deposits (1,848) (1,691) (1,644) (1,595) (1,652) Brokered CDs (4,315) (4,515) (4,248) (3,928) (4,269) Core customer deposits $28,670 $28,132 $27,429 $27,106 $27,346 Tangible Common Equity and Tangible Assets Reconciliation1 ($ in millions) 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 Common equity $4,492 $4,411 $4,219 $4,048 $3,975 Goodwill and other intangible assets, net (1,134) (1,137) (1,139) (1,141) (1,143) Tangible common equity $3,358 $3,275 $3,080 $2,907 $2,831 Total assets $43,309 $43,023 $42,211 $41,624 $41,137 Goodwill and other intangible assets, net (1,134) (1,137) (1,139) (1,141) (1,143) Tangible assets $42,175 $41,886 $41,072 $40,483 $39,994 Nonrecurring Item Noninterest Income Reconciliation ($ in millions) 1Q 2025 YTD Dec 2024 4Q 2024 GAAP noninterest income (loss) $59 $(9) $(207) Loss on mortgage portfolio sale2 7 130 130 Net loss on sale of investments2 - 148 148 Noninterest income, excluding nonrecurring items $66 $269 $72

30 Reconciliation & Definitions of Non-GAAP Items 1 Announced initiatives include the loss on mortgage portfolio sale and loss on prepayment of FHLB advances as a result of the balance sheet repositioning that the Corporation announced in the fourth quarter of 2024. The net loss on the sale of investments is already excluded from noninterest income within the efficiency ratio. Non-GAAP Efficiency Ratios Reconciliation ($ in millions) 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 Total expense for efficiency ratios reconciliation Noninterest expense $211 $224 $201 $196 $198 Less: Other intangible amortization 2 2 2 2 2 Total expense for fully tax-equivalent efficiency ratio 208 222 198 194 195 Less: FDIC special assessment - - - - 8 Less: Announced initiatives1 - 14 - - - Total expense for adjusted efficiency ratio 208 208 198 194 188 Total revenue for efficiency ratios reconciliation Net interest income 286 270 263 257 258 Noninterest income 59 (207) 67 65 65 Less: Investment securities gains (losses), net - (148) - - 4 Fully tax-equivalent adjustment 4 4 4 4 4 Total revenue for fully tax-equivalent efficiency ratio 349 215 333 325 323 Less: Announced initiatives1 (7) (130) - - - Total revenue for adjusted efficiency ratio 356 346 333 325 323 Efficiency Ratios (expense / revenue) Fully tax-equivalent efficiency ratio 59.72% 103.11% 59.51% 59.51% 60.56% Adjusted efficiency ratio 58.55% 60.10% 59.51% 59.51% 58.18%

31 Reconciliation & Definitions of Non-GAAP Items 1 This item classified as a nonrecurring item is a result of the balance sheet repositioning that the Corporation announced in the fourth quarter of 2024. Common Equity Tier 1 Capital Ratio Reconciliation 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 Common equity Tier 1 capital ratio 10.11% 10.01% 9.72% 9.68% 9.43% Accumulated other comprehensive loss adjustment (0.10)% (0.22)% (0.34)% (0.67)% (0.64)% Common equity Tier 1 capital ratio including accumulated other comprehensive loss 10.01% 9.79% 9.38% 9.01% 8.79% Nonrecurring Item Noninterest Expense Reconciliation ($ in millions) YTD Dec 2024 4Q 2024 GAAP noninterest expense $818 $224 Loss on prepayments of FHLB advances1 (14) (14) Noninterest expense, excluding nonrecurring items $804 $210

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Cover Page Cover Page	Apr. 24, 2025
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Apr. 24, 2025
Entity Registrant Name	Associated Banc-Corp
Entity Incorporation, State or Country Code	WI
Entity File Number	001-31343
Entity Tax Identification Number	39-1098068
Entity Address, Address Line One	433 Main Street
Entity Address, City or Town	Green Bay
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54301
City Area Code	920
Local Phone Number	491-7500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000007789
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	ASB
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | Two Thousand Twenty Three Subordinated Debt
Entity Information [Line Items]
Title of 12(b) Security	6.625% Fixed-Rate Reset Subordinated Notes due 2033
Trading Symbol	ASBA
Security Exchange Name	NYSE
Series E Preferred Stock | NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shrs, each representing 1/40th intrst in a shr of 5.875% Non-Cum. Perp Pref Stock, Srs E
Trading Symbol	ASB PrE
Security Exchange Name	NYSE
Series F Preferred Stock [Member] | NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shrs, each representing 1/40th intrst in a shr of 5.625% Non-Cum. Perp Pref Stock, Srs F
Trading Symbol	ASB PrF
Security Exchange Name	NYSE