Short answer
ASSOCIATED BANC-CORP (ASB) filed its fiscal 2025 10-K annual report with the SEC on Feb 12, 2026. It reported revenue of $2.2B (+2.4% year over year) and net income of $475M.
- Top risk flagged: Legal risk from increased regulatory scrutiny on CRE lending by federal banking agencies, given $8.4B CRE loans at 27% of total portfolio
FY2025 key financial metrics · XBRL
- Revenue
- $2.2B
- +2.4% YoY
- Net income
- $475M
- +285.5% YoY
- EPS (diluted)
- $2.77
- +284.7% YoY
- ROE
- 9.5%
- +6.9 pp YoY
- Operating cash flow
- $616M
- +6.1% YoY
Source: XBRL data from the ASSOCIATED BANC-CORP (ASB) FY2025 10-K on SEC EDGAR. USD.
ASSOCIATED BANC-CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Regional commercial bank providing lending, deposit, fiduciary, and risk management services to businesses, consumers, and municipalities
- Segment reorganization: Private wealth moved from Corporate and Commercial Specialty to Community, Consumer, and Business segment starting Q4 2024
- Net income $475M in 2025 up from $123M in 2024, driven by strong segment performance and reduced losses in Risk Management segment
- Total loans grew to $31.16B in 2025 from $29.77B in 2024, with risk management losses sharply reduced from -$541M to -$157M
- Board authorized $100M common stock repurchase program in early 2026, adding to existing repurchase authority
Management Discussion & Analysis
- Revenue $1.49B total (net interest $1.2B + noninterest $286.4M), net interest income up 15% YoY (+$153.9M), noninterest income up $295.8M from -$9.4M in 2024
- Operating margin improved: efficiency ratio 56.29% vs 67.64% in 2024; net interest margin 3.03% vs 2.78% in 2024
- Best segment: Commercial and business loans; average loans up $892.7M (3%), commercial & industrial loans up $1.2B (from $10.6B to $11.8B)
- Worst segment: Residential mortgage loans down due to portfolio sale, loss on mortgage portfolio sale decreased by $123.4M to $7M loss in 2025
- Cash flow & capital: total assets up $2.2B (5%), FHLB advances up $1.4B (76%), subordinated notes matured ($243.4M), no detailed buyback/dividend capex figures disclosed
- Forward outlook: Management notes balance sheet repositioning benefits, expects continued capital markets activity, highlights risks from macroeconomic trends, with Moody’s baseline economic forecast guiding credit loss allowance
Risk Factors
- Legal risk from increased regulatory scrutiny on CRE lending by federal banking agencies, given $8.4B CRE loans at 27% of total portfolio
- Geopolitical risk from U.S. trade tariffs imposed since 2025 against Canada, Mexico, China negatively affecting customers' margins and debt servicing
- Operational risk of cyber-attacks, including sophisticated AI-enabled fraud, threatening sensitive client data and causing potential financial loss
- Competitive risk from alternative financing technologies disrupting traditional lending, unaddressed in text, with focus on elevated CRE lending competition
- Financial risk from $17.0B uninsured deposits (26.5% of total), heightening liquidity risk if rapid withdrawals occur during distress
Generated from the filing text; verify against the original. How to read a 10-K
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