| EBP, Investment, Fair Value and NAV |
The following table sets forth by level, within the fair value hierarchy, the Plan's fair value measurements at December 31, 2025 and 2024, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | ($ in thousands) | | Fair Value | | Level 1 | | Level 2 | | Level 3 | | | Investments measured in fair value hierarchy | | | | | | | | | | | Mutual funds | | $ | 446,365 | | | $ | 446,365 | | | $ | — | | | $ | — | | | | Collective trust funds | | 227,531 | | | 227,531 | | | — | | | — | | | | | | | | | | | | | | | Total investments measured in fair value hierarchy | | $ | 673,896 | | | $ | 673,896 | | | $ | — | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total investments measured at NAV | | $ | 265,114 | | | | | | | | | | Total investments at fair value | | $ | 939,010 | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | ($ in thousands) | | Fair Value | | Level 1 | | Level 2 | | Level 3 | | | Investments measured in fair value hierarchy | | | | | | | | | | | Mutual funds | | $ | 415,221 | | | $ | 415,221 | | | $ | — | | | $ | — | | | | Collective trust funds | | 182,619 | | | 182,619 | | | — | | | — | | | | | | | | | | | | | | | Total investments measured in fair value hierarchy | | $ | 597,840 | | | $ | 597,840 | | | $ | — | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total investments measured at NAV | | $ | 243,129 | | | | | | | | | | Total investments at fair value | | $ | 840,969 | | | | | | | |
The following table summarizes investments for which fair value is measured using the NAV per share practical expedient as of December 31: | | | | | | | | | | | | | | | | | | | ($ in thousands) | Fair Value | Unfunded Commitments | Redemption Frequency (If Currently Eligible) | Redemption Notice Period | | 2025 | 2024 | | Collective trust funds | $ | 224,594 | | $ | 205,001 | | N/A | daily | one day | Associated Banc-Corp Common Stock Fund (1) | $ | 40,520 | | $ | 38,128 | | N/A | daily | one day |
(1) This fund is designed to share in the performance of Associated Banc-Corp. The share price and return will vary according to factors affecting the Associated Banc-Corp common stock.
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