Associated Banc-Corp Shatters Growth Targets in Q2 2026, Sets Sights on Continued Expansion
Associated Banc-Corp has made significant strides in its second quarter of 2026, exceeding growth targets and solidifying its position as a leader in the financial sector. In a recent conference call, President and CEO Andy Harmening outlined the company's impressive performance, highlighting key milestones and strategic initiatives that have contributed to its success.
One of the most notable achievements is the company's organic commercial and industrial (C&I) loan growth, which hit 9-10% for the year as of June 30th. This was made possible by adding over $600 million in balances during the second quarter alone. Additionally, Associated Banc-Corp has seen significant relationship deposit growth, with organic core customer deposits increasing by 6% from June 30th of last year to this year.
"We've been pleased with the initial results we've seen from several recent investments, including our expanded Kansas City C&I team, our new Dallas C&I office, our new Franchise Banking vertical, and key leadership hires in our private wealth business," said Harmening. "We expect the impact from these investments to ramp up later this year and into 2027."
The company's acquisition of American National Corporation has also played a significant role in its growth, with nearly $4 billion in loan balances added to the balance sheet during the quarter. This addition led to a 15% increase in total loans versus the prior quarter, with organic loan growth of 3% or $940 million in Q2. Total deposits and core customer deposits both grew by 12% in Q2 after adding over $4 billion in American National balances.
Associated Banc-Corp's focus on sustainable, profitable organic growth has been a key driver of its success. The company's leadership team remains committed to maintaining a disciplined approach to expenses, risk management, and credit, ensuring that growth is achieved in a responsible manner.
"We look forward to providing additional updates as Associated's growth journey continues along the way," said Harmening. With a strong foundation in place, the company is well-positioned for continued expansion and success in the years to come."
