Associated Banc-Corp profit rises as American National deal lifts deposits 16%

Associated Banc-Corp's purchase of American National is showing up in its numbers, with net interest income and deposits both posting double-digit gains.

The regional lender earned $144 million, or $0.76 per share, in the third quarter, up from $0.73 a year earlier and $0.63 in the second quarter, according to its earnings release filed with an 8-K on Thursday. Excluding nonrecurring costs tied to the American National acquisition, which closed April 1, adjusted earnings were $154 million, or $0.81 a share.

Bigger balance sheet

Net interest income rose 24% from a year earlier to $377 million, and the net interest margin was 3.20%. Total deposits grew 16% to $40.4 billion, while core customer deposits climbed 21% to $34.8 billion.

Credit stayed contained, with net charge-offs at 0.19%.

The bank repurchased $100 million of stock in the quarter, buying 3.2 million shares at an average of $30.88.

By the numbers

• EPS: $0.76, vs. $0.73 a year ago
• Adjusted EPS: $0.81
• Net interest income: $377 million, up 24%
• Deposits: $40.4 billion, up 16%
• Buybacks: $100 million

Sources

1. Associated Banc-Corp, Form 8-K (Item 2.02) with Exhibit 99.1 earnings release dated Oct. 22, 2026, accession 0000007789-26-000257

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