Associated Announces Annual Meeting Results, Dividends and Share Repurchase Program

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Apr 24, 2018, 04:15 ET

GREEN BAY, Wis., April 24, 2018 /PRNewswire/ -- Associated Banc-Corp (NYSE:ASB) ("Associated") today announced the results of the actions taken at its 2018 Annual Meeting of Shareholders.

The following directors were re-elected:

William R. Hutchinson, chairman, Associated Banc-Corp, and president, W.R. Hutchinson & Associates, Inc.
Philip B. Flynn, president and chief executive officer, Associated Banc-Corp
John F. Bergstrom, chairman and chief executive officer, Bergstrom Corp.
Michael T. Crowley, Jr., past chairman, Bank Mutual Corporation
R. Jay Gerken, director of 18 mutual funds associated with Sanford C. Bernstein Fund, Inc.
Judith P. Greffin, former chief investment officer, Allstate Corporation
Robert A. Jeffe, director, OAG Analytics, Inc.
Eileen A. Kamerick, adjunct professor of law and consultant
Gale E. Klappa, chairman and chief executive officer, WEC Energy Group
Richard T. Lommen, chairman, Courtesy Corp.
Cory L. Nettles, founder and managing director, Generation Growth Capital, Inc.
Karen T. van Lith, business consultant
John (Jay) B. Williams, chairman, Church Mutual Insurance Company

Shareholders also (1) approved named executive officer compensation, (2) approved an annual vote on Associated Banc-Corp's named executive officer compensation, and (3) ratified the selection of KPMG LLP as Associated's independent accounting firm for 2018.

The Associated Board of Directors declared a regular quarterly cash dividend of $0.15 per common share, payable on June 15, 2018, to shareholders of record at the close of business on June 1, 2018.

The Board of Directors also declared a regular quarterly cash dividend of $0.3828125 per depositary share on Associated's 6.125% Series C Perpetual Preferred Stock, payable on June 15, 2018, to shareholders of record at the close of business on June 1, 2018.

The Board of Directors also declared a regular quarterly cash dividend of $0.3359375 per depositary share on Associated's 5.375% Series D Perpetual Preferred Stock, payable on June 15, 2018, to shareholders of record at the close of business on June 1, 2018.

In addition, the Board authorized the repurchase of up to $100 million of Associated's common stock. This repurchase authorization is in addition to the authority remaining under the previous program. Repurchases under such programs are subject to regulatory limitations and may occur from time to time in open market purchases, block transactions, accelerated share repurchase programs or similar facilities.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $33 billion and is one of the top 50, publicly traded, U.S. bank holding companies. Headquartered in Green Bay, Wis., Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 270 banking locations serving more than 110 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

FORWARD LOOKING STATEMENTS

Statements made in this document which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management's plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings or other measures of performance. Such forward-looking statements may be identified by the use of words such as "believe", "expect", "anticipate", "plan", "estimate", "should", "will", "intend", "outlook", or similar expressions. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements. Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the company's most recent Form 10-K and subsequent SEC filings. Such factors are incorporated herein by reference.

Investor Contact:
Robb Timme, Vice President, Investor Relations
920-491-7059

Media Contact:
Jennifer Kaminski, Vice President, Public Relations Senior Manager
920-491-7576

SOURCE Associated Banc-Corp