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Net Interest Income: $305 million in Q3, a record for the company, up 16% from Q3 2024.
Earnings Per Share (EPS): $0.73 in Q3.
Total Loans Growth: 1% increase from the prior quarter and 3% from Q3 2024.
Commercial and Industrial (C&I) Loans: Nearly $300 million growth in Q3, with nearly $1 billion added year-to-date.
Core Customer Deposits: Increased by $628 million or 2% from Q2, and up 4% or $1.2 billion year-over-year.
Noninterest Income: $81 million in Q3, a 21% increase from the prior quarter.
Noninterest Expense: $216 million in Q3, up $7 million from the prior quarter.
Return on Average Tangible Common Equity: Over 14% in Q3, a 250 basis point improvement from Q3 2024.
Net Charge-Off Ratio: Flat at 0.17% in Q3.
Common Equity Tier 1 (CET1) Capital Ratio: Increased to 10.33%, up 13 basis points from the prior quarter.
Release Date: October 23, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Associated Banc-Corp (NYSE:ASB) achieved record net interest income of $305 million in Q3 2025, marking a 16% increase from Q3 2024.
The company reported strong organic growth, with net household growth each quarter and a significant increase in core customer deposits by over $600 million in Q3.
ASB successfully added nearly $1 billion in high-quality C&I loans year-to-date, demonstrating effective balance sheet remixing.
The bank’s capital generation improved, with a 13 basis point increase in CET1 capital in Q3, supporting future growth.
ASB maintained strong credit quality, with flat delinquencies and nonaccruals at just 34 basis points of total loans, reflecting disciplined credit management.
Total noninterest expense increased by $7 million in Q3, driven by performance-based incentive programs, impacting overall profitability.
The company anticipates elevated CRE payoff activity in coming quarters, which could affect loan growth.
Deposit costs increased slightly in Q3, reflecting some pressure from higher-priced accounts returning with seasonality.
ASB’s reliance on wholesale funding sources remains a concern, although efforts are underway to reduce this dependency.
The potential impact of macroeconomic uncertainties, including interest rate changes and trade policy negotiations, poses ongoing risks to ASB’s financial performance.
Q: C&I growth has been impressive. What happens when the remaining RMs come off their noncompete agreements? Will growth rates accelerate? A: Andrew Harmening, President and CEO, explained that there is still significant potential for growth. Production is up 12%, and the pipeline is up 31%. As non-solicitation agreements expire, production is expected to increase slightly next year. The company anticipates strong C&I growth above the market in 2026, with deposit production also showing promising signs.
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