Associated Banc Reports Strong Q2 Earnings and Loan Growth
Associated Banc-Corp (NYSE: ASB) reported improved financial results for the second quarter of 2026, with adjusted earnings per share rising to $0.73 from GAAP EPS of $0.63 due to a one-time acquisition-related cost. The bank saw strong loan growth driven by its recent acquisition of American National Corporation and organic commercial lending gains. Organic C&I (commercial and industrial) loans grew significantly, reaching the company's full-year target in just six months. Total loans increased 15% quarter-over-quarter due to $4 billion from the American National acquisition, with an additional $940 million coming from organic growth. The integration of American National is on schedule for October systems conversion and now projects cost savings at about 30% of its expense base. Deposits also rose by 12%, largely due to the addition of over $4 billion in new deposit balances, while net interest income climbed to $370 million with a margin expansion to 3.17%. The bank maintained strong credit quality and reaffirmed its outlook for robust loan and deposit growth.