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Companies / Financials / Associated Banc-Corp
ASB

Associated Banc-Corp

FinancialsBanks & Brokers
Ticker ASBGREEN BAY, WIFiscal year ends DecemberBook value per share $29.86Diluted shares 166.6M

Associated Banc-Corp (NYSE: ASB) is a bank holding company whose principal subsidiary, Associated Bank, provides banking and related financial services to individuals and businesses across the upper Midwest. Its services are delivered through Associated Bank and nonbanking subsidiaries, including a nationally… From the company’s description.

In fiscal 2025, Associated Banc-Corp reported revenue of $1.49B, up 43.3% from fiscal 2024, and net income of $474.78M. Its pre-tax margin was 38.8%.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024
Sales & profitability
$1.49BFY2025
+43.3% year over year
38.85%FY2025
+25.9 percentage points
$474.78MFY2025
+285.5% year over year
9.54%FY2025
+6.9 percentage points
Cash & financing
$615.69MFY2025
+6.1% year over year
$615.69MFY2025
+6.1% year over year
7.92FY2025
Was 8.11× a year earlier
166.6MFY2025
+8.7% year over year

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure.

What Associated Banc-Corp does

In the company’s own words

Associated Banc-Corp (NYSE: ASB) is a bank holding company whose principal subsidiary, Associated Bank, provides banking and related financial services to individuals and businesses across the upper Midwest. Its services are delivered through Associated Bank and nonbanking subsidiaries, including a nationally chartered trust company, and its business is organized into Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services. At December 31, 2025, the company operated 184 banking branches serving more than 100 communities, primarily in Wisconsin, Illinois, Minnesota, and Missouri, and employed approximately 4,000 people. Associated Bank traces its history to the 1861 founding of the Bank of Neenah; Associated Banc-Corp was incorporated in Wisconsin in 1964. The company had agreed to acquire American National in an all-stock transaction, which was expected to close in the second quarter of 2026, subject to customary conditions including regulatory approvals.

Company details
Sector
Financials
Industry (SIC)
Banks & Brokers
Headquarters
GREEN BAY, WI
Fiscal year end
December
CIK
7789
SIC
6022

Financial performance, year by year

Fiscal 2011–2025 · USD
$-148.75M$297.51M$743.77M$1.19B$1.64B2011201220132014201520162017201820192022202320242025

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Associated Banc-Corp — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

369
funds hold it
0 of 35
superinvestors hold it
$2.35B
held by funds, at market
41.8%
of shares held by funds
1
bond issues held by funds

Largest fund holders · Associated Banc-Corp’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.14%of fund net assets
First Trust RBA American Industrial Renaissance ETF
AIRR · First Trust Exchange-Traded Fund VI
1.29%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.14%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.05%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Associated Banc-Corp’s bonds, as funds hold them

Funds report holding 1 issues of Associated Banc-Corp’s debt, $57.50M at market value — what funds hold, not the company’s total debt.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Associated Banc-Corp and its peers compare on margins and cash generation over ten years?”
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  • “What changed in Associated Banc-Corp's last four quarterly filings that the numbers alone won't show?”
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