ASSOCIATED BANC-CORP (ASB) Company Report

On November 30, 2025, Associated Banc-Corp entered into an Agreement and Plan of Merger with American National Corporation, under which American National will merge with and into Associated.
The Merger Agreement was unanimously approved by the Board of Directors of both Associated and American National.
Each share of American National voting and non-voting stock will be converted into the right to receive 36.250 shares of Associated common stock.
Wende Kotouc, Executive Co-Chairman and Chief Executive Officer of American National Bank, will be appointed as a director of Associated effective as of the merger's effective time.

18 hours ago

8-K

Associated Announces Merger with American National Corporation

ASB

M&A

Board Change

New Projects/Investments

Associated (ASB) announced an all-stock merger with American National Corporation, a community bank headquartered in Omaha, Nebraska, valued at approximately $604 million.
The transaction is expected to close in the second quarter of 2026 and is projected to deliver 2% EPS accretion in 2027 with 1.2% tangible book value dilution and a 2.25-year earnback period.
Strategically, the merger allows Associated to enter the Omaha market with a number two deposit market share and enhances its presence in the Twin Cities, achieving a number 10 pro forma deposit market share.
The deal anticipates $29.2 million in cost savings, representing 25% of American National's expense base, and will result in a combined entity with approximately $50 billion in assets.

4 days ago

Transcript

Associated Banc-Corp Announces Merger with American National Corporation

ASB

M&A

Associated Banc-Corp (ASB) announced an all-stock merger with American National Corporation, valued at approximately $604 million based on Friday's closing price.
The transaction is projected to be 2% accretive to EPS in 2027, with a 1.2% tangible book value dilution and a 2.25-year earnback period.
The merger will expand ASB's market presence, establishing a number two deposit market share in Omaha and strengthening its position in the Twin Cities.
American National Corporation brings $5.3 billion in assets, $3.8 billion in loans, and $4.7 billion in deposits to the combined entity.
The deal is anticipated to close in the second quarter of 2026.

4 days ago

Transcript

Associated Banc-Corp Announces Merger with American National Corporation

ASB

M&A

Associated Banc-Corp (ASB) announced a merger with American National Corporation, a community bank headquartered in Omaha, Nebraska, in an all-stock transaction valued at approximately $604 million based on Friday's closing price.
The transaction is structured with American National shareholders receiving 36.25 shares of Associated stock for each American National share, resulting in Associated shareholders owning 88% of the combined company.
Financially, the merger is expected to deliver 2% EPS accretion in 2027 with a modest 1.2% tangible book dilution and a 2.25-year earnback period. It also anticipates 25% or $29.2 million in cost savings from American National's expense base, with 50% realized in 2026 and 100% thereafter.
Strategically, the acquisition expands Associated's franchise into the Omaha metropolitan area with a number two deposit market share and strengthens its position in the Twin Cities, adding over $800 million in deposits. The combined entity will reach approximately $50 billion in assets, $40 billion in deposits, and $35 billion in loans.
The transaction has been approved by both companies' boards and American National's voting shareholders, with closing expected in the second quarter of 2026 subject to customary regulatory approvals.

4 days ago

Transcript

ASB Announces Partnership with American National Corporation

ASB

M&A

New Projects/Investments

Guidance Update

ASB announced a 100% stock merger with American National Corporation (ANC), with an aggregate consideration of $604 million to ANC, resulting in 88% Associated / 12% American National pro forma ownership.
The transaction is projected to yield 2.0% EPS accretion and ~60 bps ROATCE accretion by 2027E, with a 1.2% TBVPS dilution at close and a 2.25-year TBVPS earn-back.
The partnership is expected to generate 25% achievable cost savings from ANC's noninterest expense base and is anticipated to close in 2Q 2026, pending customary regulatory approvals.
Strategically, the merger expands ASB's footprint into the Omaha MSA with a #2 deposit market share rank and strengthens its presence in the Minneapolis/St. Paul MSA.

4 days ago

Presentation

Associated Banc-Corp to Acquire American National Corporation

ASB

M&A

Associated Banc-Corp (ASB) announced a definitive agreement to acquire American National Corporation (ANC) in an all-stock transaction valued at approximately $604 million, based on ASB's closing price as of November 28, 2025.
American National shareholders will receive 36.250 shares of Associated stock for each share of American National stock.
As of September 30, 2025, American National reported $5.3 billion in total assets, $3.8 billion in total loans, and $4.7 billion in total deposits.
The acquisition is projected to be 2.0% accretive to 2027E EPS and cause 1.2% tangible book value per share (TBVPS) dilution at closing, with a 2.25-year TBVPS earn-back.
The transaction is expected to close in the second quarter of 2026.

4 days ago

8-K

Associated Banc-Corp to Acquire American National Corporation

ASB

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Associated Banc-Corp (ASB) has entered into a definitive agreement to acquire American National Corporation in an all-stock merger.
The transaction is valued at approximately $604 million, with American National shareholders receiving 36.250 shares of Associated stock for each American National share.
This acquisition is expected to accelerate Associated's growth strategy by deepening its presence in the Twin Cities and establishing a new presence in the Omaha market.
As of September 30, 2025, American National reported $5.3 billion in total assets, $3.8 billion in total loans, and $4.7 billion in total deposits.
The merger is anticipated to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.

4 days ago

Press Release

Associated Banc-Corp Reports Record Q3 2025 Net Interest Income and Strong Loan Growth

ASB

Earnings

Guidance Update

Revenue Acceleration/Inflection

Associated Banc-Corp reported Q3 2025 earnings of $0.73 per share and a record net interest income of $305 million, marking a 16% increase compared to Q3 2024.
The company achieved 1% total loan growth quarter-over-quarter, driven by a nearly $300 million increase in C&I loans in Q3, contributing to nearly $1 billion in C&I loan growth year-to-date.
Core customer deposits increased by $628 million from Q2, enabling a reduction in wholesale funding, and were up over $1.2 billion year-over-year.
Capital ratios strengthened, with the CET1 ratio rising to 10.33% and the TCE ratio to 8.18% in Q3 2025.
Management expects net interest income growth of 14% to 15% and total non-interest income growth of 5% to 6% for 2025, while also forecasting total bank loan growth of 5% to 6% for the year.

Oct 23, 2025, 9:00 PM

Transcript

Associated Banc-Corp Reports Record Q3 2025 Net Interest Income and Strong Loan Growth

ASB

Earnings

Guidance Update

Hiring

Associated Banc-Corp reported Q3 2025 earnings of $0.73 per share.
The company achieved a record net interest income of $305 million in Q3 2025, marking a 16% increase from Q3 2024, and non-interest income grew 21% to $81 million.
Total loans increased 1% quarter-over-quarter, with C&I loans growing by nearly $300 million in Q3 2025 and $1 billion year-to-date. Core customer deposits were up 2% from Q2 2025, totaling $628 million.
Capital ratios improved, with the CET1 ratio increasing to 10.33% and the TCE ratio to 8.18% in Q3 2025. Credit quality remained strong with non-accruals at 34 basis points and net charge-offs at 17 basis points.
The company expects 2025 net interest income growth of 14%-15%, non-interest income growth of 5%-6%, and total non-interest expense growth of 5%-6%.

Oct 23, 2025, 9:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for ASSOCIATED BANC-CORP.

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