Core Insights - Associated Banc-Corp reported revenue of $366.98 million for the quarter ended June 2025, reflecting a year-over-year increase of 12.7% [1] - The company's EPS was $0.65, up from $0.52 in the same quarter last year, exceeding the consensus estimate of $0.62 by 4.84% [1] - The revenue surpassed the Zacks Consensus Estimate of $362.81 million, resulting in a surprise of +1.15% [1] Financial Metrics - Total earning assets averaged $40.07 billion, exceeding the average estimate of $39.56 billion [4] - Net Interest Margin remained stable at 3%, matching the average estimate [4] - Annualized year-to-date net charge offs to average loans were 0.2%, consistent with analyst estimates [4] - Total nonperforming assets were reported at $148.17 million, lower than the estimated $161.65 million [4] - Adjusted efficiency ratio was 57.2%, slightly above the average estimate of 56.4% [4] - Net Interest Income (FTE) was $304.23 million, surpassing the average estimate of $296.03 million [4] - Bank and corporate owned life insurance revenue was $4.14 million, below the estimate of $4.33 million [4] - Capital markets net revenue was $5.77 million, exceeding the average estimate of $4.36 million [4] - Mortgage banking net revenue was $4.21 million, above the estimated $3.74 million [4] - Card-based fees were reported at $11.2 million, slightly higher than the estimate of $11.03 million [4] - Service charges and deposit accounts fees reached $13.15 million, exceeding the average estimate of $12.92 million [4] - Wealth management fees were $23.03 million, above the estimated $22.43 million [4] Stock Performance - Shares of Associated Banc-Corp have returned +8% over the past month, outperforming the Zacks S&P 500 composite's +5.7% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - Associated Banc-Corp reported quarterly earnings of $0.65 per share, exceeding the Zacks Consensus Estimate of $0.62 per share, and showing an increase from $0.52 per share a year ago, indicating a positive earnings surprise of +4.84% [1] Financial Performance - The company achieved revenues of $366.98 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.15%, and up from $325.5 million year-over-year [2] - Over the last four quarters, Associated Banc-Corp has consistently surpassed consensus EPS estimates four times and topped revenue estimates two times [2] Stock Performance - Since the beginning of the year, Associated Banc-Corp shares have increased by approximately 8.4%, compared to the S&P 500's gain of 8.1% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.63 on revenues of $369.87 million, and for the current fiscal year, it is $2.50 on revenues of $1.46 billion [7] - The company's favorable estimate revisions trend prior to the earnings release has resulted in a Zacks Rank 2 (Buy), suggesting expected outperformance in the near future [6] Industry Context - The Banks - Midwest industry, to which Associated Banc-Corp belongs, is currently ranked in the top 29% of over 250 Zacks industries, indicating a favorable outlook for stocks within this sector [8]

Financial Data and Key Metrics Changes - The company reported earnings of $0.65 per share for Q2 2025, with total loans growing by 1% quarter-over-quarter and 3% year-over-year [9] - Net interest income reached a record $300 million, up $43 million or 17% compared to the same period last year [10][11] - The return on tangible common equity was 12.96%, a 62 basis point improvement from Q1 [12] Business Line Data and Key Metrics Changes - Commercial and industrial (C&I) loans grew by over $700 million in the first half of 2025, with $356 million added in Q2 alone [6][10] - Total average quarterly loans increased by nearly $400 million versus Q1, with C&I leading the growth [14] - Non-interest income for Q2 was $67 million, a 3% increase year-over-year [22] Market Data and Key Metrics Changes - Core customer deposits were up 4.3% compared to the same period last year, despite seasonal outflows in Q2 [10][15] - The net interest margin climbed above 3%, reflecting a strong profitability profile [13] Company Strategy and Development Direction - The company is focused on executing its strategic plan, which includes enhancing profitability through a mix shift in its asset base [5][12] - There is a strong emphasis on organic growth in customer relationships, with the best organic checking household growth in nearly a decade [5][16] - The company aims to reduce reliance on wholesale funding by increasing lower-cost core customer deposits [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow core customer deposits in the second half of the year, citing strong household growth trends and a growing commercial pipeline [10][16] - The management remains vigilant regarding credit quality, with a proactive approach to managing portfolios amid macroeconomic uncertainties [8][30] Other Important Information - The company added nine basis points to its CET1 capital in Q2, totaling a 19 basis point increase year-to-date [7] - The efficiency ratio improved to below 56%, the lowest level since early 2023 [23] Q&A Session Summary Question: Seasonal decline in deposits - Management acknowledged the seasonal decline but noted that it was anticipated and that they expect a rebound in the second half of the year due to a growing commercial pipeline [36][39] Question: Update on office CRE portfolio - Management indicated that the office CRE portfolio is evolving positively, with proactive clients benefiting from improvements [46][48] Question: Margin outlook and deposit pricing strategy - Management discussed the importance of asset-side growth in maintaining margin strength and emphasized disciplined pricing strategies for deposits [53][59] Question: Thoughts on acquisitions - Management stated that any potential acquisition would need to be a good strategic, financial, and cultural fit, emphasizing the priority of executing their current strategic plan [68][70] Question: Increase in ACL for C&I portfolio - Management explained that the increase in the allowance for credit losses (ACL) for the C&I portfolio is primarily due to growth in that segment [72] Question: Sustainability of positive operating leverage - Management expressed confidence in sustaining positive operating leverage into 2026, driven by growth in commercial loans and disciplined expense management [79][81]

Financial Data and Key Metrics Changes - The company reported earnings of $0.65 per share for Q2 2025, with total loans growing by 1% quarter over quarter and 3% year over year [8][10] - Net interest income reached $300 million, marking a 17% increase compared to the same period last year, and was the highest in the company's history [10][18] - The return on tangible common equity was 12.96%, reflecting a 62 basis point improvement from Q1 [12] Business Line Data and Key Metrics Changes - Commercial and industrial (C&I) loans grew by over $700 million in the first half of 2025, with $356 million added in Q2 alone [6][9] - Total average quarterly loans increased by nearly $400 million compared to Q1, driven primarily by C&I growth [14] - Non-interest income for Q2 was $67 million, a 3% increase year over year, with fee-based revenues and capital markets income contributing to this growth [11][23] Market Data and Key Metrics Changes - Core customer deposits were up 4.3% compared to the same period last year, despite seasonal outflows in Q2 [10][15] - The net interest margin climbed above 3%, with a 29 basis point increase year over year [13][18] - The securities book increased to $9 billion, with an overall yield of 4.24% [22] Company Strategy and Development Direction - The company is focused on executing its strategic plan, which includes enhancing profitability through a mix shift in its asset base and deepening customer relationships [5][12] - The strategy involves replacing lower-yielding residential mortgage loans with higher-yielding C&I loans, aiming for total bank loan growth of 5% to 6% for the year [12][15] - The company remains open to potential acquisitions but emphasizes that any opportunity must align strategically, financially, and culturally with its goals [68][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow core customer deposits in the second half of the year, citing strong household growth trends and a growing commercial pipeline [16][41] - The management team remains vigilant regarding credit quality, with a proactive approach to managing portfolios amid macroeconomic uncertainties [7][30] - The company expects net interest income growth of 14-15% in 2025, assuming three Fed rate cuts [20] Other Important Information - The company added 19 basis points to its CET1 capital so far in 2025, reflecting a strong capital position [7][25] - Non-accrual loans decreased by 16%, indicating improved credit quality [11][31] - The efficiency ratio improved to below 56%, the lowest level since early 2023 [24] Q&A Session Summary Question: Seasonal decline in deposits - Management acknowledged the seasonal decline but noted that it was anticipated and that the commercial pipeline for deposits has increased significantly [38][40] Question: Update on office CRE portfolio - Management indicated that the office CRE portfolio is evolving positively, with proactive clients benefiting from improvements [47][49] Question: Margin outlook and deposit pricing strategy - Management discussed the importance of asset remixing for margin strength and emphasized disciplined pricing strategies for deposits [54][60] Question: Thoughts on acquisitions - Management reiterated that any acquisition would need to be a good strategic, financial, and cultural fit, while focusing on executing the current strategic plan [68][70] Question: ACL increase for C&I portfolio - Management explained that the increase in the allowance for credit losses (ACL) for the C&I portfolio is due to growth in that segment, reflecting a proactive risk management approach [71][72]

Second Quarter 2025 Earnings Presentation July 24, 2025 Associated Banc-Corp Important Disclosures Forward-looking statements: 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 ...

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 This is a non-GAAP financial measure. See financial tables for a reconciliation of non-GAAP financial measures to GAAP financial measures. 1 • Diluted earnings per common share of $0.65 • Record net interest income of $300 million (+5% vs. 1Q 2025; +17% vs. 2Q 2024) • Total period end loans of ...

GREEN BAY, Wis., July 24, 2025 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income available to common equity ("earnings") of $108 million, or $0.65 per common share, for the quarter ended June 30, 2025. These amounts compare to earnings of $99 million, or $0.59 per common share, for the quarter ended March 31, 2025 and earnings of $113 million, or $0.74 per common share, for the quarter ended June 30, 2024."Midway through 2025, Associated Bank is seeing st ...

Associated Banc-Corp (ASB) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on July 24, might help the stock move higher if these key numbers are better than exp ...

Market Overview - The Dow Jones Industrial Average declined by 436.36 points, or 0.98%, closing at 44,023.29, amid rising inflation concerns and mixed earnings from major banks [2] - The Consumer Price Index increased by 0.3% month over month, indicating potential cost impacts from recent tariff policies [1] Value Investing Insights - Current market conditions suggest a renewed focus on value investing, emphasizing companies with strong fundamentals, stable cash flows, and reasonable valuations [2] - The Price to Cash Flow (P/CF) ratio is highlighted as an effective valuation metric, with a lower ratio indicating better value and strong cash generation potential [3][4] Company Performance and Projections - Hudbay Minerals Inc. (HBM) is projected to have sales growth of 9.7% and EPS growth of 43.8% this year, with shares rising 18.9% in the past year [9][14] - CVS Health Corporation (CVS) expects 3.4% sales growth and 12.9% EPS growth, with shares increasing by 3.8% over the past year [9][14] - Universal Health Services, Inc. (UHS) anticipates 8% sales growth and 17% EPS growth, although shares have declined by 3.7% in the past year [16] - Associated Banc-Corp (ASB) forecasts 10.1% sales growth and 5% EPS growth, with shares rising 6.3% in the past year [17] Investment Strategy Parameters - Parameters for selecting true-value stocks include a P/CF less than or equal to the industry median, a minimum stock price of $5, and an average 20-day volume greater than 100,000 [8] - Additional metrics for screening include P/E, P/B, and P/S ratios, with a PEG ratio of less than 1 indicating undervaluation [10][11]

Core Viewpoint - Associated Banc-Corp (ASB) is positioned well to continue its trend of beating earnings estimates, with a solid history of performance in recent quarters [1][5]. Earnings Performance - For the last reported quarter, Associated Banc-Corp achieved earnings of $0.59 per share, surpassing the Zacks Consensus Estimate of $0.57 per share, resulting in a surprise of 3.51% [2]. - In the previous quarter, the company was expected to post earnings of $0.55 per share but delivered $0.57 per share, yielding a surprise of 3.64% [2]. Earnings Estimates and Predictions - Estimates for Associated Banc-Corp have been trending higher, supported by its history of earnings surprises [5]. - The company currently has an Earnings ESP (Expected Surprise Prediction) of +0.81%, indicating a bullish outlook from analysts regarding its earnings prospects [8]. - The combination of a positive Earnings ESP and a Zacks Rank of 2 (Buy) suggests a strong possibility of another earnings beat in the upcoming report [8]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [6]. - The Earnings ESP metric compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [7].