Associated Banc-Corp Announces Retirement of EVP David Stein

Associated Banc-Corp announced that Executive Vice President David Stein will retire effective July 1, 2025. He will transition to Strategic Advisor and Madison Market President through the end of the year. Under a transition agreement, Stein will receive $25,000 monthly, remain eligible for certain incentive programs, and may receive a $25,000 performance-based award upon retirement.

Associated Banc-Corp Posts $99 Million Profit in Q1 2025, Marking Strong Turnaround from Prior Quarter

Associated Banc-Corp (NYSE: ASB) reported first-quarter 2025 net income available to common equity of $99 million, or $0.59 per share—up from $78 million a year earlier and sharply reversing a $164 million loss in Q4 2024. The strong start to the year was driven by margin expansion, disciplined cost control, and over $1 billion in combined loan and deposit growth.

Net interest income rose to $286 million, with the net interest margin improving to 2.97%. Total loans climbed 2% from the prior quarter, led by commercial and business lending. Deposits also rose 2% to $35.2 billion. Credit quality remained solid, with net charge-offs at 0.12% of average loans and allowance coverage at 1.34%.

CEO Andy Harmening highlighted the completion of strategic investments and balance sheet repositioning as key to the company’s improved profitability. The bank reaffirmed 2025 guidance for 5–6% loan growth, 1–2% deposit growth, and 12–13% net interest income growth.