Associated Banc-Corp Announces Merger with American National

An announcement from Associated Banc-Corp ( (ASB) ) is now available.

On December 1, 2025, Associated Banc-Corp and American National Corporation announced an agreement for American National to merge into Associated Banc-Corp, with the latter continuing as the surviving entity. This merger, valued at approximately $604 million, is expected to close in the second quarter of 2026 and aims to expand Associated’s presence in strategic Midwest markets, making it the #2 bank in the Omaha MSA and #10 in the Minneapolis/St. Paul MSA by deposit market share.

The most recent analyst rating on (ASB) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Associated Banc-Corp stock, see the ASB Stock Forecast page.

Spark’s Take on ASB Stock

According to Spark, TipRanks’ AI Analyst, ASB is a Outperform.

Associated Banc-Corp’s strong financial performance and positive earnings call are the most significant factors contributing to its score. The technical analysis supports a bullish outlook, although the high P/E ratio suggests potential overvaluation. The company’s robust cash flow and strategic growth investments position it well for future growth, despite some challenges in CRE lending.

To see Spark’s full report on ASB stock, click here.

More about Associated Banc-Corp

Associated Banc-Corp is the largest bank holding company based in Wisconsin, offering a full range of financial products and services from nearly 200 banking locations across Wisconsin, Illinois, Minnesota, and Missouri. American National Corporation is a privately-held financial institution based in Omaha, Nebraska, operating 33 full-service offices in Nebraska, Iowa, and Minnesota.

Average Trading Volume: 1,514,237

Technical Sentiment Signal: Buy

Current Market Cap: $4.36B

For a thorough assessment of ASB stock, go to TipRanks’ Stock Analysis page.