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.