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Green Bay, Wisconsin regional bank offering consumer and commercial banking across Wisconsin, Illinois and Minnesota.
Green Bay, Wisconsin regional bank offering consumer and commercial banking across Wisconsin, Illinois and Minnesota.
Earns mostly from the gap between interest on loans and the cost of deposits, with a loan book weighted toward business customers, plus fees from wealth, mortgage and deposit services. Wisconsin is its largest market.
Moat: narrow (scale, distribution). Established Upper Midwest deposit franchise across Wisconsin, Illinois and Minnesota.
Headquarters: Green Bay, Wisconsin, USA · Founded: 1861
Size Associated Banc-Corp (ASB) is a United States Financials company (Major Banks) with a market value of $5.64B, the 1107th largest of 3,117 United States companies the cockpit tracks. Shares closed at $30.36 on 6 Nov 2026.
Performance Over six months the shares gained 6.3%, against +4.2% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 22.9% over the last twelve months (peer median +5.0%); the operating margin is 39.1% (peer median 36.5%).
Valuation It trades at 1.07× book value against a peer median of 1.31× (10th cheapest of 21).
Price implies The share price implies a return on equity of about 9.3%; Associated Banc-Corp delivers 10.2%, so the price asks less than the business earns today.
Credit Associated Banc-Corp has 1 bond outstanding ($300M), rated BBB- by the agencies.
Short interest Short interest is 4.5% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.65B | $2.46B | $2.12B | $2.02B | $1.44B |
| Revenue growth | — | +16% | +5% | +40% | — |
| Net income | $525M | $473M | $122M | $182M | $364M |
| Free cash flow | $648M | $585M | $476M | $445M | $399M |
| Capital expenditure | $37.7M | $36.4M | $45.0M | $61.8M | $62.7M |
| Total debt | $4.86B | $4.21B | $3.20B | $2.84B | $5.20B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Associated Banc-Corp ASB | $5.64B | +6% | +23% | 10% | 1.07× | 9.3% |
| Old National Bancorp ONB | $9.43B | +3% | +18% | 12% | 1.17× | 10.3% |
| Huntington Bancshares HBAN | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% |
| Fifth Third Bancorp FITB | $47.9B | +8% | +15% | 9% | 1.55× | 13.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.6% | +0.4% | 3rd highest of 21 |
| 6-month return | +6.3% | +4.2% | 11th highest of 21 |
| Return on equity | 10.2% | 10.0% | 11th highest of 21 |
| Price / book | 1.07× | 1.31× | 10th cheapest of 21 |
| Trailing P/E | 10.5× | 11.6× | 6th cheapest of 21 |
| ROE the price implies | 9.3% | 12.8% | 6th least demanding of 19 |
| ROE delivered | 10.2% | 10.0% | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Associated Banc-Corp ASB | United States | $5.64B | +6% | +23% | 10% | 1.07× | 9.3% | 10.2% |
| Yes Bank YESBANK.NS | India | $5.72B | -24% | +5% | 8% | 1.01× | 15.3% | 8.2% |
| Grupo Aval Acciones y Valores SA Sponsored ADR Pfd AVAL | United States | $5.29B | -5% | +15% | 11% | 0.95× | 7.8% | 10.8% |
| Bank of East Asia 0023.HK | Hong Kong | $6.03B | +27% | -9% | 3% | 0.44× | 5.2% | 3.2% |
| Axos Financial AX | United States | $5.26B | +7% | +18% | 17% | 1.60× | 16.5% | 16.7% |
| St.Galler Kantonalbank SGKN.SW | Switzerland | $5.22B | +19% | -13% | 8% | 1.37× | n/a | 7.6% |
| Bank of Chongqing 601963.SS | China | $5.13B | +7% | +5% | 10% | 0.65× | 3.0% | 9.8% |
| RBL Bank RBLBANK.NS | India | $6.21B | +10% | +9% | 4% | 1.35× | 23.1% | 4.0% |
| Indian Overseas Bank IOB.NS | India | $6.23B | -13% | +14% | 18% | 1.46× | 17.2% | 17.9% |
| F.N.B FNB | United States | $6.28B | 0% | +2% | 9% | 0.92× | 8.9% | 9.0% |
| Bank of India BANKINDIA.NS | India | $6.68B | -1% | +9% | 14% | 0.67× | 12.5% | 14.1% |
| 77 Bank 8341.T | Japan | $4.66B | +7% | +21% | 9% | 0.95× | 5.9% | 9.4% |
| Fulton Financial FULT | United States | $4.54B | +11% | +3% | 12% | 1.29× | 10.5% | 11.6% |
| Banco Macro SA Sponsored ADR BMA | United States | $4.53B | -21% | +4% | 7% | 0.87× | 11.3% | 7.5% |
| Bank of Maharashtra MAHABANK.NS | India | $7.08B | +2% | +17% | 23% | 1.79× | 26.2% | 23.3% |
| Liechtensteinische Landesbank LLBN.SW | Switzerland | $4.40B | +24% | -2% | 8% | 1.48× | n/a | 7.7% |
| Texas Capital Bancshares TCBI | United States | $4.39B | +1% | +3% | 10% | 1.34× | 9.8% | 10.2% |
| First Financial Bankshares FFIN | United States | $4.36B | -6% | +8% | 16% | 2.38× | 17.0% | 15.9% |
| Lion Finance BGEO.L | United Kingdom | $7.39B | +20% | +19% | 27% | 1.89× | 21.1% | 27.3% |
| Credito Emiliano CE.MI | Italy | $7.48B | +26% | -2% | 12% | 1.41× | 13.1% | 12.3% |
| IndusInd Bank INDUSINDBK.NS | India | $7.48B | -4% | -2% | 5% | 1.04× | 17.8% | 4.5% |
Associated Banc-Corp has 1 bond outstanding with $300M face value. The agencies rate it BBB-.