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Q2 2026 · read from the 30 June 2026 Call Report · United States · Great Lakes · Wisconsin, the state note

Associated Bank N.A.

Green Bay, Wisconsin · $51.76B in assets · beside the 11 other the Great Lakes states banks over $10B (the state alone holds too few in the band to rank)

The filing

2.9x
Coverage of noncurrent
1st of 12
0.97%
ROA
10th of 12
0.42%
NPA / loans
3rd of 12

Associated Bank N.A. is the fourth largest of the 12 the Great Lakes states banks nearest its size over $10B, with $51.76B in assets at 30 June 2026. Loans are 91.2% of deposits, 8th of 12 against a median of 89.7%, and equity is 10.4% of assets, 9th of 12. Loans grew +19.1% in the year, 3rd of 12, and deposits grew 17.3%; the cohort's median loan growth is +15.1%.

Noncurrent loans are 0.42% of the book, 3rd of 12 against a median of 0.76%; 0.16% is 30 to 89 days past due, and the allowance covers them 2.9 times. Net charge-offs are 0.16% of loans, 6th of 12. Commercial real estate is 24.7% of loans, 3rd of 12 against a median of 28.7%, and 183% of capital, below the 300% screen, with construction at 52% against the 100% screen.

Return on assets is 0.97%, 10th of 12 against a median of 1.43%, on an efficiency ratio of 58.8%, 7th of 12. Five years ago it was 1.11%. The question is which of these lines moves first over the next four quarters, and against which peer.

Return on assetsGreat Lakes states banks over $10B · 30 June 2026 · higher is stronger, listed first
median 1.43% PN Park National Bank 1.83% NT Northern Trust Co. 1.59% CB CIBC Bank USA 1.53% CB Centier Bank 1.53% FF First Financial Bank 1.52% MB Merchants Bank of Indiana 1.47% ON Old National Bank 1.39% BB Busey Bank 1.34% NN Nicolet National Bank 1.01% AB Associated Bank N.A. 0.97% FM First Merchants Bank 0.75% TF Third Federal Savings & Loan Association of Cleveland 0.61%
Loans, year over yearGreat Lakes states banks over $10B · 30 June 2026 · no better direction, largest first
median +15.1% NN Nicolet National Bank +64.5% PN Park National Bank +22.2% AB Associated Bank N.A. +19.1% FM First Merchants Bank +17.1% FF First Financial Bank +16.6% MB Merchants Bank of Indiana +15.5% CB CIBC Bank USA +14.6% ON Old National Bank +5.9% CB Centier Bank +4.4% TF Third Federal Savings & Loan Association of Cleveland +3.6% NT Northern Trust Co. +1.2% BB Busey Bank -4.5%

SBA 7(a), FY2008 to FY2026

Associated Bank N.A. is the 8th largest 7(a) lender into Wisconsin of 426, with $278M across 2,089 loans, 3.0% of everything approved in the state (Byline Bank leads with $864M). 158 of its 236 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Wisconsin, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Hennepin, MN$60M12th of 2282.0%+0.8 pts
Milwaukee, WI$56M5th of 1444.3%-0.0 pts
Cook, IL$47M33rd of 2820.7%+0.6 pts
Douglas, NE$42M3rd of 1454.9%+0.5 pts
Waukesha, WI$39M7th of 1223.4%+1.9 pts
Brown, WI$38M3rd of 858.1%-12.1 pts
Dane, WI$22M10th of 1412.7%+1.6 pts
Ramsey, MN$21M12th of 1392.2%+0.6 pts
Sarpy, NE$17M3rd of 707.2%+1.6 pts
Dakota, MN$15M13th of 1601.9%-2.2 pts
Winnebago, IL$11M9th of 743.4%+1.5 pts
Outagamie, WI$10M13th of 912.6%+1.0 pts
Washington, WI$8M9th of 752.3%thin
223 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Health care & social assistance448$139M20.1%0.29%55th of 2,172
Manufacturing360$103M14.9%0.26%67th of 2,246
Retail trade511$76M11.0%0.12%134th of 2,589
Construction494$67M9.7%0.21%78th of 2,063
Professional & technical services438$63M9.1%0.19%72nd of 1,955
7(a) lenders into Wisconsin, share of approvals since FY2008426 lenders on record; the ten largest and Associated Bank N.A.
BB Byline Bank 9.3% $864M · 860 loans BF Bank Five Nine 7.9% $733M · 1,782 loans BF Bank First, N.A. 4.7% $437M · 963 loans UB UMB Bank, National Association 3.8% $355M · 672 loans UB U.S. Bank, National Association 3.5% $324M · 1,831 loans NN Nicolet National Bank 3.2% $296M · 741 loans ON Old National Bank 3.0% $279M · 390 loans AB Associated Bank National Associat… 3.0% $278M · 2,089 loans LO Live Oak Banking Company 2.6% $246M · 206 loans SC Summit CU 2.6% $244M · 1,034 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
Associated Bank N.A.RankCohort median
Total CRE against capital, the 300% screen183%6th of 12190%
Construction against capital, the 100% screen52%11th of 1241%
Construction and land development, share of loans7.0%9th of 126.0%
Non-owner-occupied nonfarm nonresidential, share of loans11.0%4th of 1216.6%
Total CRE, the guidance definition, share of loans24.7%3rd of 1228.7%
CRE growth over 36 months, the third prong+23.2%6th of 12+24.0%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Northern Trust Co.$178.57B1.6%70.3%0.23%0.00%0.4%29.6%6.7%
Old National Bank$73.86B1.4%49.4%0.92%0.25%1.1%89.2%11.3%
CIBC Bank USA$66.50B1.5%36.8%1.35%0.25%1.1%84.2%17.4%
Associated Bank N.A.$51.76B1.0%58.8%0.42%0.16%1.2%91.2%10.4%
First Financial Bank$22.35B1.5%57.5%0.70%0.27%1.4%77.3%13.4%
First Merchants Bank$21.32B0.7%65.2%0.82%0.18%1.5%93.0%12.8%
Merchants Bank of Indiana$21.17B1.5%40.2%1.18%0.39%0.4%121.1%11.0%
Busey Bank$18.15B1.3%59.9%0.51%0.21%1.2%87.1%13.7%
Third Federal Savings & Loan Association of Cleveland$18.06B0.6%60.7%0.25%-0.02%0.5%159.7%9.9%
Nicolet National Bank$15.39B1.0%64.9%0.63%0.03%1.2%87.0%15.0%
Park National Bank$12.61B1.8%54.7%0.86%0.11%1.1%90.3%12.4%
Centier Bank$10.41B1.5%48.2%0.82%0.08%1.2%92.3%9.9%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Associated Bank N.A.Cohort median
20212026Change20212026Change
Loans$24.11B$36.58B+52%$9.34B$15.94B+71%
Deposits$27.30B$40.12B+47%$10.80B$15.97B+48%
NPA / loans0.64%0.42%-0.21 pts0.51%0.76%+0.25 pts
Efficiency65.7%58.8%-6.9 pts56.5%58.1%+1.6 pts
ROA1.11%0.97%-0.14 pts1.36%1.43%+0.07 pts

This read was prepared for Associated Bank N.A.'s board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Associated Bank N.A. is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort Great Lakes states banks over $10B
Institution www.associatedbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by New England and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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