ASSOCIATED BANC-CORP

For the period ended Mar 31, 2026. Filed Apr 28, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed Apr 28, 2026

ASB$30.89+1.7%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows (Unaudited)

	Three Months Ended Mar 31,
(in thousands)	2026	2025
Cash flows from operating activities
Net income	$119,635	$101,687
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	11,001	13,003
Depreciation and amortization	12,214	13,981
Change in MSRs valuation	(1,261)	1,047
Amortization of other intangible assets	2,203	2,203
Amortization and accretion on earning assets, funding, and other, net	12,264	6,336
Net amortization of tax credit investments	8,455	8,689
Gains on sales of investment securities, net	4	—
Asset (gains) losses, net	(840)	878
Loss on mortgage banking activities, net	998	329
Loss on mortgage portfolio sale	—	6,976
Net periodic pension benefit	(8,206)	(6,186)
Mortgage loans originated for sale	(159,442)	(92,584)
Proceeds from sales of mortgage loans held for sale	146,457	105,642
Changes in certain assets and liabilities:
Decrease in interest receivable	97	8,044
Decrease in net income tax position	22,342	29,846
Increase (decrease) in interest payable	1,409	(2,025)
Decrease in expense payable	(52,852)	(53,261)
Decrease (increase) in net derivative position	3,169	(36,128)
Increase in BOLI/COLI cash surrender value	(3,816)	(5,204)
Net change in other assets and other liabilities	22,034	(5,107)
Net cash provided by operating activities	135,865	98,166
Cash flows from investing activities
Net increase in loans	(656,118)	(513,237)
Purchases of:
AFS securities	(534,565)	(391,952)
HTM securities	—	(994)
Regulatory stocks and equity securities	(56,881)	(71,364)
Proceeds from:
Sales of HTM securities	1,222	—
Sales of regulatory stocks and equity securities	19,206	56,786
Prepayments, calls, and maturities of AFS securities	380,404	206,882
Prepayments, calls, and maturities of HTM securities	31,062	34,673
Sales, prepayments, calls, and maturities of other assets	3,734	2,631
Sale of mortgage portfolio	—	564,375
Premises, equipment, and software	(8,701)	(7,472)
Net change in tax credit and alternative investments	(3,543)	(7,448)
Net cash used in investing activities	(824,180)	(127,119)
Cash flows from financing activities
Net increase in deposits	179,157	548,279
Net increase (decrease) in short-term funding	87,788	(159,033)
Net increase in short-term FHLB advances	154,750	170,000
Repayment of long-term FHLB advances	(33)	(32)
Repayment of finance lease principal	—	(22)
Repayment of long-term funding	—	(250,000)
Proceeds from issuance of common stock for stock-based compensation plans	7,121	2,192
Purchase of treasury stock, open market purchases	(25,202)	(22,292)
Purchase of treasury stock, stock-based compensation plans	(6,377)	(5,816)
Cash dividends on common stock	(40,058)	(38,538)
Cash dividends on preferred stock	(2,875)	(2,875)
Payments for other financing activities	—	(52)
Net cash provided by financing activities	354,271	241,810
Net (decrease) increase in cash and cash equivalents	(334,044)	212,856
Cash and cash equivalents at beginning of period	1,720,221	1,019,604
Cash and cash equivalents at end of period	$1,386,177	$1,232,460
Supplemental disclosures of cash flow information
Cash paid for interest	$219,035	$241,667

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.