Announcement • May 21
Associated Banc-Corp Appoints Brandon White as Senior Vice President, Dallas Market Leader, Corporate and Commercial Banking Associated Banc-Corp announced Brandon White has been hired as senior vice president, Dallas market leader, Corporate and Commercial Banking. In his role, White will oversee the buildout of a dedicated Commercial team, with relationship manager (RM) hiring underway. The bank expects to add approximately four positions across its Texas offices in 2026. Prior to joining Associated, White was with Comerica Bank for more than 16 years, most recently leading a team of RMs focused on developing opportunities with corporate banking clients and sport franchises. He will report into Matt Flynn, senior vice president, business segment and region leader. Based in Kansas City, Mo., Flynn oversees Associated's expansion into Kansas City, Mo., Kansas, Oklahoma and Texas as well as leads Associated Bank's national Short Line Rail Industry vertical. White has a bachelor's degree afrom Texas Tech University – Rawls College of Business and an MBA from Texas Christian University. He resides in Dallas. Declared Dividend • May 20
First quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 1st June 2026 Payment date: 15th June 2026 Dividend yield will be 3.7%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (32% payout ratio) and is expected to be well covered in 3 years' time (29% forecast payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 5.6% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 24
Associated Banc-Corp Reports Net Charge Offs for the First Quarter Ended March 31, 2026 Associated Banc-Corp reported charge offs for the first quarter ended March 31, 2026. For the period, the company reported net charge offs of $5,312,000 compared to net charge offs of $8,698,000 a year ago. Announcement • Apr 23
Associated Banc-Corp Appoints Lisa Buetow as Director of Private Banking, Major Metro Markets Associated Banc-Corp announced Lisa Buetow has joined Associated Bank as director of Private Banking, major metro markets. Buetow is based in Minneapolis and will be responsible for Minnesota, Chicago, Milwaukee and Madison, Wis., and will report to Jayne Hladio, executive vice president and president, Associated Bank Private Wealth. Buetow brings more than 25 years of experience across investment banking, corporate banking, and private wealth, with a proven history of leading complex, high-performing organizations serving ultra-high-net-worth clients. Most recently, she served as managing director and Private Wealth Banking manager at Wells Fargo, where she led client-facing banking and lending teams across 11 states in the central U.S., partnering with more than 1,000 wealth and financial advisors to serve the banking and lending needs of high- and ultra-high-net worth clients.Prior to that, Buetow held senior leadership roles at Abbot Downing, where she oversaw professionals offering custom lending, cash management and deposit services to ultra-high-net-worth clients nationwide and advanced various enterprise initiatives. Her depth of experience in wealth advisory, strategic credit structuring, risk management, and multi-market leadership will be instrumental as Private Wealth continues to scale its Private Banking capabilities across Associated's largest and most complex markets. She is a graduate of the University of Minnesota, Carlson School of Management, earning both a bachelor's degree in business and an MBA. Buetow and her family live in Minnesota, and she is based in the IDS Center in Minneapolis. Announcement • Apr 17
Associated Banc-Corp Announces Appointment of Jason Hansen as Nebraska and Western Iowa Market President and Business Segment Leader - Commercial Banking, Effective April 16, 2026 Associated Banc-Corp announced Jason Hansen as Nebraska and Western Iowa market president, and business segment leader - Commercial Banking, effective April 16, 2026, reporting into Phil Trier, executive vice president, head of Corporate & Commercial Banking. Hansen previously served as president of American National Bank. Hansen's career at American National Bank began in 2000 as a teller and quickly progressed to other responsibilities prior to being named to significant commercial and client-centered management roles. His expertise in relationship development, financial structuring and the creation of operational efficiencies kept the American National Bank at the forefront of the industry and was instrumental in the bank's achievement of its financial goals and objectives. Associated Bank acquired American National Bank with the deal closing April 1, 2026. Hansen is a graduate of University of Nebraska – Omaha with a bachelor's in business administration, finance and banking as well as the Graduate School of Banking at the University of Colorado Boulder. He currently serves on the Board of Directors for United Way of the Midlands and has previously held the role of Chairman of the Board for both the Urban League of Nebraska and the Visiting Nurses Association (VNA)/Easterseals. His dedication to public service has been recognized with the University of Nebraska at Omaha's College of Public Affairs and Community Service Alumni Award for Excellence in Public Service. Hansen lives in Elkhorn, Nebraska, with his wife and three children. Announcement • Apr 01
Associated Banc-Corp Appoints Wende Kotouc to Board of Directors, Effective April 1, 2026 Associated Banc-Corp announced the appointment of Wende Kotouc to its Board of Directors effective April 1, 2026. Ms. Kotouc, aged 63, served as Executive Co-Chairperson and Chief Executive Officer of American National Bank and Executive Vice President of American National from July 2019 to April 2026 and as Executive Co-Chairperson of American National Bank's Board of Directors from May 2017 to April 2026. Ms. Kotouc was also a member of American National's Board of Directors from May 2013 to April 2026, and she was originally hired by American National in October of 1999. Ms. Kotouc has a long history of community engagement and leadership, including current service on the Omaha Airport Authority Board of Directors, Creighton University Board of Trustees, The Salvation Army Omaha Board of Directors, Executive Committee and Christ Community Church Governing Board. Announcement • Mar 25
Associated Banc-Corp to Report Q1, 2026 Results on Apr 23, 2026 Associated Banc-Corp announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 23, 2026 Announcement • Feb 28
Associated Banc-Corp Appoints Alexander Bush as Executive Vice President and Chief Data Officer, Effective 25 February 2026 Associated Banc-Corp announced Alexander Bush has been appointed executive vice president, chief data officer (CDO), effective 25 February 2026. Bush will report to Executive Vice President and Chief Information Officer, Terry Williams. As chief data officer, Bush is responsible for Associated's enterprise data strategy and governance, ensuring data is consistent, trusted, and effectively used across the organization. His role connects across business lines and functions, establishing a strong data foundation that supports operations, regulatory requirements, risk management, and advanced analytics at scale. He has more than two decades of experience in financial services, most recently as senior vice president, director of financial information at Huntington National Bank. While there, Bush led multi-year strategic initiatives for financial data and systems, championed enterprise data governance, and pioneered innovative approaches to automation and analytics. His leadership enabled trusted data, predictive analytics and streamlined regulatory compliance across complex environments. Bush holds a bachelor's degree in information technology and an MBA, both from Franklin University. He and his family will relocate to Milwaukee in May 2026 from Columbus, Ohio. Announcement • Jan 23
Associated Banc-Corp Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2025 Associated Banc-Corp reported net charge-offs for the fourth quarter ended December 31, 2025. For the quarter, the company reported net charge-offs of $2,273,000 against $12,220,000 a year ago. Announcement • Dec 31
Associated Banc-Corp to Report Q4, 2025 Results on Jan 22, 2026 Associated Banc-Corp announced that they will report Q4, 2025 results After-Market on Jan 22, 2026 Announcement • Dec 01
Associated Banc-Corp (NYSE:ASB) entered into a definitive agreement to acquire American National Corporation for approximately $600 million. Associated Banc-Corp (NYSE:ASB) entered into a definitive agreement to acquire American National Corporation for approximately $600 million on November 30, 2025. Under the terms of the merger agreement, American National shareholders will receive 36.250 shares of Associated stock for each share of American National stock. American National's bank subsidiary, American National Bank, will also merge into Associated's bank subsidiary, Associated Bank, N.A.
As of September 30, 2025, American National Corporation reported total assets of $5.3 billion. Wende Kotouc (Co-CEO & Co-Chairperson of American National Bank) to join Associated's Board. JohnKotouc (Co-CEO & Co-Chairperson of American National Bank) to remain in consultancy role.
The transaction is subject to approval by regulatory board / committee, approval of Offer by Target Shareholders, approval of merger agreement by target board and approval of offer by acquirer board. The deal has been unanimously approved by the board and approved by American National primary shareholders. The expected completion of the transaction is second quarter of 2026. The transaction will create 2.0% 2027E EPS accretion, 1.2% TBVS2 dilution at close, 2.25-year TBVS2 earn-back and accretive to CET1 at close.
Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor for Associated Banc-Corp. Evercore Inc. acted as financial advisor for Associated Banc-Corp. Piper Sandler & Co. acted as financial advisor for American National Corporation. Alston & Bird LLP acted as legal advisor for American National Corporation. Announcement • Nov 19
Associated Banc-Corp Announces Executive Changes, Effective January 1, 2026 Associated Banc-Corp announced that effective January 1, 2026, Jay Sodey, regional executive – Consumer & Business Banking, will succeed Dave Stein, former head of Consumer & Business Banking, as Madison market president. Stein previously announced his plan to retire at the end of 2025. With 22 years of banking experience, Sodey joined Associated Bank in 2005 to oversee its retail banking in the Greater Madison market. He will continue to report to Director of Branch Banking, John Halechko. As market president, Sodey will provide leadership for the region, which includes approximately 370 colleagues across 32 locations. He will champion initiatives that emphasize sales growth, marketing strategies, community giving, volunteer engagement and cultural development within the market and work closely with the Madison Engage Local Regional Leadership Team (RLT). The Engage Local initiative has local colleagues developing and aligning new charitable, volunteer and marketing and sales efforts in the market to foster bank growth alongside community needs. Sodey holds a degree in business management/finance from Central College in Pella, Iowa, and a Certificate of Executive Leadership from the Graduate School of Banking, University of Wisconsin – Madison. He lives in Verona, Wisconsin. Announcement • Oct 30
Associated Banc-Corp Announces Changes to Its Board, Effective from January 1, 2026 Associated Banc-Corp announced that effective January 1, 2026, Mike Lebens, senior vice president and commercial banking market leader, will succeed Paul Schmidt, executive vice president and head of commercial real estate and facilities, as the Twin Cities market president. Lebens joined Associated in May 2024, from Wells Fargo Bank where he spent 22 years in various leadership positions. He will continue to report directly to Phillip Trier, executive vice president, head of Corporate & Commercial Banking. In October 2024, Paul Schmidt, current Twin Cities market president and head of Commercial Real Estate and Facilities, announced his intent to retire at the end of 2025. He was named Twin Cities market president in 2022, after joining Associated in 2015. Announcement • Oct 29
Associated Banc-Corp Announces Increase in Common Stock Dividend, Payable on December 15, 2025 The Board of Directors of Associated Banc-Corp declared a regular quarterly cash dividend of $0.24 per common share, payable on December 15, 2025, to shareholders of record at the close of business on December 1, 2025. This is an increase of $0.01 from the previous quarterly dividend of $0.23 per common share. Announcement • Oct 24
Associated Banc-Corp. Announces Net Charge Offs for the Third Quarter Ended September 30, 2025 Associated Banc-Corp. announced net charge offs for the third quarter ended September 30, 2025. Third quarter 2025 net charge offs were $13,173,000 compared to net charge offs of $13,078,000 for the third quarter ended Sep 30, 2024. Announcement • Oct 22
Associated Banc-Corp Announces Executive Appointments Associated Banc-Corp has announced that it has expanded its private wealth team. The firm has announced the appointment of David Hutcheson and Craig Keisling. Hutcheson will become SVP, senior director of Private Wealth Sales Strategy and Innovation, while Keisling will become director of Strategic Sales Support. They are to focus on growth and enhancing client experience. Announcement • Oct 03
Associated Banc-Corp to Report Q3, 2025 Results on Oct 23, 2025 Associated Banc-Corp announced that they will report Q3, 2025 results After-Market on Oct 23, 2025 Announcement • Oct 01
Associated Banc-Corp Announces Appointment of Abhishek Vaidya as Senior Vice President and Chief Analytics Officer Associated Bank has announced Abhishek Vaidya joined the bank as senior vice president, chief analytics officer. He will report to Bryan Carson, chief product and marketing officer. Vaidya brings more than 20 years of banking experience to Associated Bank. Most recently, he held the position of senior director, head of US Campaign Analytics Contact Optimization at BMO Harris Bank based out of Chicago. In that position he led end-to-end development and delivery of predictive models, advanced data analytics, automated insights and reporting, artificial intelligence and machine learning products. He developed actionable recommendations to deepen, acquire, and retain customer relationships across Consumer and Business Banking lines of business. Prior to BMO, Abhishek held various analytic leadership roles at Discover, Barclaycard, and Citigroup. He has deep experience and expertise in customer retention, customer deepening, customer acquisition, credit risk, fraud, marketing campaign digital analytics, data science, automated reporting and data visualization. Vaidya holds a master's degree in statistics and a bachelor's degree in statistics from University of Mumbai, India. He is based in Milwaukee, Wis. Announcement • Jul 30
Associated Banc-Corp Declares Quarterly Cash Dividend on Common Stock, Payable on September 15, 2025 The Board of Directors of Associated Banc-Corp declared a regular quarterly cash dividend of $0.23 per common share, payable on September 15, 2025, to shareholders of record at the close of business on September 2, 2025. Announcement • Jul 11
Associated Banc-Corp to Report Q2, 2025 Results on Jul 24, 2025 Associated Banc-Corp announced that they will report Q2, 2025 results After-Market on Jul 24, 2025 Announcement • Jun 13
Associated Bank Moves Minneapolis Office to the IDS Center Associated Banc-Corp announced it is moving its Minneapolis office to the IDS Center's 43rd floor at 80 S 8th St. The move is expected to happen in Spring 2026, and construction is expected to start in August 2025. Announcement • May 08
Associated Banc-Corp Announces Executive Changes Associated Banc-Corp announced the promotion of Steven Zandpour to executive vice president, head of consumer and business banking, effective July 1, 2025. Zandpour will succeed David Stein, who has announced his intent to retire at the end of 2025 after more than 20 years with the company. Zandpour joined Associated Bank in January 2024 as executive vice president, director of retail banking and was promoted to deputy head of consumer and business banking and the bank's Executive Leadership Team in January 2025. He will continue to oversee revenue growth for consumer and business banking and lead the bank's branch network, contact centers, and other sales and service channels. In addition, he will oversee digital banking, consumer risk, customer experience, retail strategy, and community accountability teams. Effective July 1, Stein will transition from head of consumer and business banking to executive vice president, strategic advisor, and Madison market president, assisting with the development of the bank's strategic plan for the remainder of the year. He will also continue to serve as Madison market president through the end of 2025. Stein joined Associated Bank in 2005 as regional president for the company's former South-Central Region, leading all the bank's businesses in Madison and southwestern Wisconsin. Under his leadership, the bank has built up its branch network and mortgage business, introduced a suite of digital products, and increased customer satisfaction scores. Associated has completed phase two of its strategic plan and Stein will help lead the development of the next phase before fully retiring at the end of 2025. Announcement • Apr 30
Associated Banc-Corp Declares Regular Quarterly Cash Dividend, Payable on June 16, 2025 The Board of Directors of Associated Banc-Corp declared a regular quarterly cash dividend of $0.23 per common share, payable on June 16, 2025, to shareholders of record at the close of business on June 2, 2025. Announcement • Mar 27
Associated Banc-Corp to Report Q1, 2025 Results on Apr 24, 2025 Associated Banc-Corp announced that they will report Q1, 2025 results After-Market on Apr 24, 2025 Announcement • Mar 25
Associated Banc-Corp Appoints Mitchell Hind as Senior Vice President Associated Banc-Corp announced the addition of seasoned banker, Mitchell Hind, to its commercial banking team in Kansas City, Missouri, to grow that new market. This strategic move is part of Associated's broader growth initiative, focused on strengthening its core business in the Midwest and expanding into newer markets through organic growth. Mitchell Hind joined Associated on March 21 as senior vice president, relationship manager. Most recently, he spent seven years with U.S. Bank growing their commercial banking business. He has more than 20 years of experience in financial services and a proven track record as a trusted advisor delivering financial solutions to companies across the region. He holds a bachelor's degree in finance from Missouri Western State University. Announcement • Mar 18
Associated Banc-Corp, Annual General Meeting, Apr 29, 2025 Associated Banc-Corp, Annual General Meeting, Apr 29, 2025. Announcement • Jan 29
Associated Banc-Corp Announces Quarterly Dividend, Payable on March 17, 2025 The Board of Directors of Associated Banc-Corp declared a regular quarterly cash dividend of $0.23 per common share, payable on March 17, 2025, to shareholders of record at the close of business on March 3, 2025. Announcement • Jan 01
Associated Banc-Corp to Report Q4, 2024 Results on Jan 23, 2025 Associated Banc-Corp announced that they will report Q4, 2024 results After-Market on Jan 23, 2025 Announcement • Dec 20
Associated Banc-Corp Announces Executive Appointments Associated Banc-Corp announced the addition of four experienced relationship managers to the company's growing commercial banking team. The hiring of Stacy Quick, Kevin Kopaska, Mike Hauswirth and Scott Rothenbush is a continuation of Associated's multi-year strategic growth plan designed to bolster talent in key focus markets, expand commercial capabilities, and deepen relationships with new and existing clients. Stacy Quick is expected to join Associated as Senior Vice President, Relationship Manager in the Minnesota market on December 23, 2024. Quick brings more than 20 years of banking experience to Associated. Most recently, she held the position of Senior Vice President – Relationship Manager with US Bank's commercial group in Minneapolis, Minnesota, where she managed a diverse, complex portfolio of regional midsize businesses, including private and public companies, nonprofits, hedge funds, and alternative investment firms. She holds a bachelor's degree in business administration from Minnesota State University.Kevin Kopaska joined Associated as Senior Vice President, Relationship Manager in the Iowa market on November 15. Kopaska brings more than 25 years of banking experience to Associated. For the last 13 years, he was the Market Credit Leader for Wells Fargo's Middle Market Banking Office in Des Moines, Iowa. Prior to that he was with Bank of America for 19 years. He received his bachelor of arts degree in finance & banking from Buena Vista University. Kopaska will be covering Iowa as part of Associated's Minnesota team.Mike Hauswirth joined Associated as Senior Vice President, Relationship Manager in the Minnesota market on December 4. Hauswirth brings more than 30 years of banking experience to Associated. Most recently, he held the position of Senior Vice President – Relationship Manager Team Leader for US Bank's commercial group in St. Paul, Minnesota. While at US Bank, Hauswirth also held roles in portfolio management and credit risk. Prior to joining US Bank, he spent 11 years with General Motors Acceptance Corporation in finance roles. He holds a bachelor's degree in accounting from the University of Wisconsin-La Crosse and a master of business administration from the University of Kansas.Scott Rothenbush joined Associated as Senior Vice President, Relationship Manager on the company's new Specialty Deposit and Payment Solutions team on December 4, 2024. Rothenbush brings more than 30 years of banking experience to Associated. Most recently, he held the position of Deposit/Payments Relationship Manager covering the Title/Escrow/1031 and FinTech Industries at US Bank in Dayton, Ohio. He holds a bachelor of science/bachelor of arts degree in marketing/economics from The Ohio State University. Announcement • Dec 13
Associated Banc-Corp Announces Executive Appointments Associated Banc-Corp announced the appointment of Steven Zandpour to its Executive Leadership Team (ELT), effective January 1, 2025. Zandpour, 48 will be executive vice president, deputy head of Consumer and Business Banking, Associated Bank, reporting directly to David Stein, executive vice president, head of Consumer and Business Banking and Madison Market president. Zandpour joined Associated Bank in January 2024, focusing on consumer and small business growth across the company's major metropolitan markets while leading its branch network, contact centers and other sales and service channels in those markets. Adding Consumer Lending to his portfolio will make Zandpour accountable for all revenue growth for the Consumer and Business Banking line of business. Zandpour joined Associated from BMO in Chicago where he most recently served as U.S. head of Specialty Sales and successfully drove sales, service and financial results for mortgage, business banking and mass affluent segments across BMO's U.S. footprint. Prior to joining BMO, he spent 14 years in leadership at Fifth Third Bank in Illinois. Zandpour earned his MBA from the University of Notre Dame and his Bachelor of Science degree in economics from the University of Iowa. In the community, he has dedicated his time and talent to City Year Chicago, Valley of the Sun United Way Cabinet and the Arizona Science Center. Announcement • Dec 11
Associated Banc-Corp Announces Kristen Ludgate and Owen Sullivan Join Board of Directors Associated Banc-Corp announced the appointment of Kristen M. Ludgate and Owen J. Sullivan to its Board of Directors effective. Ludgate, 62, is the Chief People Officer at HP Inc., a global provider of personal computing and other digital devices, imaging and printing products, and related technologies, solutions and services. Ms. Ludgate previously served as Chief Human Resources Officer for 3M Company from 2018 to 2021 and held multiple 3M legal and executive roles over more than 15 years with the company. She is a member of the HP Foundation Board and previously chaired the 3M Foundation Board. Ludgate earned her bachelor's degree from Bowdoin College and her J.D. from University of Minnesota Law School. She will also serve as a member of Associated's Compensation and Benefits Committee. Sullivan, 67, served as President and Chief Operating Officer of NCR, a global leader in ATM, point-of-sale and digital banking from 2018 until his retirement in 2023. Prior to 2018, Mr. Sullivan was an independent consultant, providing strategic planning, consulting and executive mentoring for private equity firms and other investor groups. He received a bachelor's degree from Marquette University and completed executive education at the Kellogg School of Business at Northwestern University and Harvard Business School. Sullivan will also serve as a member of Associated's Enterprise Risk Committee. Announcement • Nov 16
Associated Banc-Corp has completed a Follow-on Equity Offering in the amount of $300 million. Associated Banc-Corp has completed a Follow-on Equity Offering in the amount of $300 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 12,000,000
Price\Range: $25
Discount Per Security: $1 Announcement • Nov 15
Associated Banc-Corp has filed a Follow-on Equity Offering. Associated Banc-Corp has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 11,500,000 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €26.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 43% over the past three years. Declared Dividend • Nov 04
Third quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 2nd December 2024 Payment date: 16th December 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (73% payout ratio) and is expected to be covered in 3 years' time (36% forecast payout ratio). The dividend has increased by an average of 9.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 51% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$0.57 (vs US$0.53 in 3Q 2023) Third quarter 2024 results: EPS: US$0.57 (up from US$0.53 in 3Q 2023). Revenue: US$308.7m (up 3.3% from 3Q 2023). Net income: US$85.1m (up 6.6% from 3Q 2023). Profit margin: 28% (in line with 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Oct 25
Associated Bank Appoints Rick Bruhn as Senior Vice President and Head of the Specialty Deposit and Payment Solutions National Vertical Associated Banc-Corp announced that Rick Bruhn has joined Associated Bank as senior vice president and head of the Specialty Deposit and Payment Solutions national vertical. Bruhn is responsible for collaborating with internal and external partners to build this new business vertical within the bank. In addition, he is responsible for driving the specialty deposits and payment solutions strategy and team that aligns with the bank's growth goals by driving new client acquisition and helping fund the growth of the overall enterprise. A leading industry expert, Bruhn brings more than 20 years of financial services experience and was most recently at U.S. Bank where he spent the past 18 years leading several deposit focused strategies including title and escrow, 1031 exchange, HOA property management and fintech. His leadership and expertise will help Associated accelerate Phase 2 of strategy of building out corporate and commercial banking capabilities and driving deposit and treasury management revenue. Bruhn holds a bachelor's degree in economics, finance and accounting from Wright State University and is based in Cincinnati, Ohio. Announcement • Sep 27
Associated Banc-Corp to Report Q3, 2024 Results on Oct 24, 2024 Associated Banc-Corp announced that they will report Q3, 2024 results After-Market on Oct 24, 2024 Announcement • Sep 12
Associated Banc-Corp Appoints Trevor D'souza as Senior Vice President of Commercial Banking Associated Banc-Corp has hired Trevor D'Souza as senior vice president of commercial banking. In his new role, D'Souza will focus on attracting and deepening customer relationships for products including loans, deposits, treasury management and other services. Prior to joining Associated Bank, D'Souza was a middle-market merger and acquisition growth and strategy consultant for Wells Fargo Asset Management. D'Souza previously was a managing director of Mason Wells Venture Funds. D'Souza's hiring builds on the second phase of Associated's strategic plan, which President and CEO Andy Harmening announced in November 2023. The bank is focusing on growing and deepening core customer deposit relationships by adding talent to the bank's team. D'Souza adds to a string of hirings in the Milwaukee executive offices including Riegelman, who was named to his position last year, and director of retail banking Steven Zandpour, who was hired in January. Upcoming Dividend • Aug 27
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 03 September 2024. Payment date: 16 September 2024. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.5%). Declared Dividend • Aug 05
Second quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 3rd September 2024 Payment date: 16th September 2024 Dividend yield will be 4.1%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 9.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 34% over the next year, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Aug 02
Insider recently sold €508k worth of stock On the 30th of July, Paul Schmidt sold around 24k shares on-market at roughly €21.47 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.5m more than they bought in the last 12 months. Announcement • Jul 31
Associated Banc-Corp Declares Regular Quarterly Cash Dividend, Payable on September 16, 2024 The Board of Directors of Associated Banc-Corp declared a regular quarterly cash dividend of $0.22 per common share, payable on September 16, 2024, to shareholders of record at the close of business on September 3, 2024. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: US$0.75 (vs US$0.56 in 2Q 2023) Second quarter 2024 results: EPS: US$0.75 (up from US$0.56 in 2Q 2023). Revenue: US$298.7m (flat on 2Q 2023). Net income: US$112.7m (up 35% from 2Q 2023). Profit margin: 38% (up from 28% in 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jun 28
Associated Banc-Corp. Management Changes Associated Banc-Corp announced that Tammy C. Stadler, 58, Executive Vice President, Corporate Controller and Chief Accounting Officer, will retire from those positions effective July 15, 2024. Stadler will remain with Associated in a consultative capacity until September 1, 2024, to assure a successful transition of her duties. Stadler will be succeeded as Corporate Controller and Chief Accounting Officer by Ryan Beld, 35. Beld, currently the Assistant Controller, joined Associated in 2020. Prior to joining Associated, Beld was a senior financial analyst with Northwestern Mutual. Beld is a CPA and was employed by KPMG LLP from 2012-2018. Beld will report to Chief Financial Officer, Derek S. Meyer. Stadler retires after a 28 year career at Associated. Announcement • Jun 27
Associated Banc-Corp to Report Q2, 2024 Results on Jul 25, 2024 Associated Banc-Corp announced that they will report Q2, 2024 results After-Market on Jul 25, 2024 Upcoming Dividend • May 27
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 17 June 2024. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.3%). Announcement • May 09
Associated Banc-Corp Adds Chun Schiros as Senior Vice President, Chief Analytics Officer Associated Banc-Corp announced the expansion of its product and marketing leadership team with the addition of Chun Schiros as senior vice president, chief analytics officer. Schiros will focus on enhancing the bank's ability to access and use data effectively and efficiently to attract, deepen and retain customer relationships across all lines of business, including consumer, small business, corporate banking and private wealth. The addition of Schiros is driven in part by the company's multi-year strategic plan to bolster talent and technology in key business units to integrate customer feedback and insights to deliver targeted product and service enhancements that improve the customers' banking experience and deepen their relationships. Schiros joins the company from Regions Bank, where she served as head of enterprise data science and successfully led end-to-end development and delivery of predictive models, advanced data analytics, automated insights and reporting, AI and machine learning products. Schiros has been recognized as a leader and innovator in data and analytics by American Banker Magazine and Corinium Global Intelligence for her drive for advanced modeling, automation using AI, and improved bottom-line performance. She holds a doctorate and master's degree in electrical engineering and a master's degree in probability and statistics from Auburn University. Declared Dividend • May 06
First quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 3rd June 2024 Payment date: 17th June 2024 Dividend yield will be 4.0%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 42% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$0.52 (vs US$0.67 in 1Q 2023) First quarter 2024 results: EPS: US$0.52 (down from US$0.67 in 1Q 2023). Revenue: US$298.8m (down 6.1% from 1Q 2023). Net income: US$78.3m (down 22% from 1Q 2023). Profit margin: 26% (down from 32% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Mar 28
Associated Banc-Corp to Report Q1, 2024 Results on Apr 25, 2024 Associated Banc-Corp announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on Apr 25, 2024 Announcement • Mar 19
Associated Banc-Corp, Annual General Meeting, Apr 30, 2024 Associated Banc-Corp, Annual General Meeting, Apr 30, 2024, at 11:00 Central Daylight. Agenda: To consider the election of 11 individuals recommended by the Board of Directors to serve as directors; to consider Advisory approval of Associated Banc-Corp’s named executive officer compensation; to consider Advisory vote on the frequency of advisory approval of Associated Banc-Corp’s named executive officer compensation; to consider the ratification of the selection of KPMG LLP as the independent registered public accounting firm for Associated Banc- Corp for the year ending December 31, 2024; and to consider Such other business as may properly come before the meeting and all adjournments thereof. Upcoming Dividend • Feb 22
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 29 February 2024. Payment date: 15 March 2024. Payout ratio is a comfortable 75% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (6.6%). Declared Dividend • Feb 05
Fourth quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 29th February 2024 Payment date: 15th March 2024 Dividend yield will be 4.3%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (74% payout ratio) and is expected to be covered in 3 years' time (33% forecast payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 76% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 31
Associated Banc-Corp Announces Quarterly Dividend, Payable on March 15, 2024 The Board of Directors of Associated Banc-Corp declared a regular quarterly cash dividend of $0.22 per common share, payable on March 15, 2024, to shareholders of record at the close of business on March 1, 2024. New Risk • Jan 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 17% Last year net profit margin: 29% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: US$1.14 (vs US$2.36 in FY 2022) Full year 2023 results: EPS: US$1.14 (down from US$2.36 in FY 2022). Revenue: US$1.02b (down 15% from FY 2022). Net income: US$171.5m (down 51% from FY 2022). Profit margin: 17% (down from 29% in FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 17
Associated Bank Appoints Steven Zandpour as Executive Vice President, Director of Retail Banking Associated Bank announced the appointment of Steven Zandpour as the company's executive vice president, director of retail banking. In his new role, Zandpour will focus on consumer and small business growth across the company's major metropolitan markets. He will also lead Associated Bank's branch network, contact centers and other sales and service channels. Following the successful launch of several deposit gathering initiatives including a mass affluent strategy over the past 24 months, Associated Bank continues to focus on growing and deepening core customer deposit relationships and is leveraging customer feedback to deliver targeted product and service enhancements. Additional details regarding planned investments in people, products and technology are laid out in the next phase of the company's people-led, digitally enabled strategic plan. Zandpour joins the company from BMO in Chicago where he most recently served as U.S. Head of Specialty Sales and successfully drove sales, service and financial results for mortgage, business banking and mass affluent segments across BMO's U.S. footprint. Prior to joining BMO, he spent 14 years in leadership at Fifth Third Bank in Illinois. He is currently completing his MBA at the University of Notre Dame and earned his Bachelor of Science degree in economics from the University of Iowa. In the community, Zandpour has dedicated his time and talent to City Year Chicago, Valley of the Sun United Way Cabinet and the Arizona Science Center. Zandpour will be located in Milwaukee. Announcement • Dec 30
Associated Banc-Corp to Report Q4, 2023 Results on Jan 25, 2024 Associated Banc-Corp announced that they will report Q4, 2023 results After-Market on Jan 25, 2024 Upcoming Dividend • Nov 23
Upcoming dividend of US$0.22 per share at 5.0% yield Eligible shareholders must have bought the stock before 30 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of German dividend payers (5.0%). Lower than average of industry peers (6.4%). Announcement • Nov 21
Associated Bank Appoints Phillip Trier as Evp, Commercial Banking Associated Bank has announced the appointment of an executive vice president (EVP). The firm has announced the appointment of Phillip Trier as the company's EVP, Commercial Banking group leader. In the position, Trier is to focus on accelerating core Commercial Middle Market business development across major metropolitan markets for the firm. He will also lead the company's equipment finance and leasing vertical and commercial deposit and treasury management sales and service strategies. Trier joins the bank from US Bank where he had been employed for about 23 years. Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: US$0.54 (vs US$0.62 in 3Q 2022) Third quarter 2023 results: EPS: US$0.54 (down from US$0.62 in 3Q 2022). Revenue: US$298.9m (down 6.3% from 3Q 2022). Net income: US$80.4m (down 13% from 3Q 2022). Profit margin: 27% (down from 29% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Announcement • Oct 06
Associated Banc-Corp Appoints Gus Hernandez to the Role of Senior Vice President, Director of Business Banking Associated Banc-Corp announced the appointment of Gus Hernandez to the role of Senior Vice President and director of Business Banking. He is responsible for business banking sales, product management and credit functions across the company's major metropolitan markets, including Milwaukee, Madison, Chicago and the Twin Cities. With approximately 35 years of banking experience, Hernandez has been a member of the Associated Bank team since 2019, most recently serving as commercial banking segment leader for the Milwaukee and Madison markets. Prior to joining the Company, he held leadership positions at Johnson Bank and BMO Harris/Bank in Wisconsin and Florida. Hernandez holds a Bachelor of Business Administration degree in finance and marketing from the University of Wisconsin - Milwaukee and a Master of Business Administration degree from Marquette University. In the community, he currently serves on the board for Ascend Talent Strategies and the Waukesha County Business Alliance Economic Development Policy committee. He is located at 111 E. Kilbourn Ave., Milwaukee. Announcement • Sep 20
Associated Banc-Corp to Report Q3, 2023 Results on Oct 19, 2023 Associated Banc-Corp announced that they will report Q3, 2023 results After-Market on Oct 19, 2023 Announcement • Aug 30
Associated Banc-Corp Announces Executive Changes Associated Banc-Corp announced that Jayne Hladio has been appointed as the company's next executive vice president, president of Private Wealth on October 2, 2023. She will replace John Thayer, who will continue with the company, retaining his roles as executive vice president, CEO of Associated Trust Company, N.A. and chair of the board for Associated Investment Services Inc. In her new role as president of private wealth based in Milwaukee, Hladio will have footprint-wide responsibility for Associated's wealth management business, including private banking, financial planning, asset management, generational wealth transfer, investment and fiduciary services and trust. Hladio, a Midwest banking leader with more than 25 years of market expertise, was most recently president of Midland Wealth Management and Midland Trust Co. for U.S. markets where she led a group focused on investment and advisory, trust administration and retirement plan services. Hladio has also held leadership roles with U.S. Bank, Charter One (Citizens) Royal Bank of Scotland and Fifth Third Bank. Headquartered in Green Bay, Wisconsin, with total assets of USD41bn, Associated Banc-Corp is a bank holding company based in Wisconsin and a Midwest banking franchise. The company offers a full range of financial products and services from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Announcement • Aug 26
Associated Banc-Corp Announces Executive Changes Associated Banc-Corp has announced that Jayne Hladio will join Associated as the company's next executive vice president, president of Private Wealth on October 2, 2023. She will succeed John Thayer, who will continue with the company, retaining his roles as executive vice president, CEO of Associated Trust Company, N.A. and chair of the board for Associated Investment Services Inc. As president of private wealth, Hladio will have footprint-wide responsibility for Associated's wealth management business including private banking, financial planning, asset management, generational wealth transfer, investment and fiduciary services and trust. She will also play an influential role in advancing the company's mass affluent and digital banking strategies. A Midwest banking leader, Hladio brings more than 25 years of market expertise to Associated. She most recently served as president of Midland Wealth Management and Midland Trust Co. for US markets where she led a group focused on investment and advisory, trust administration and retirement plan services. Hladio has also held leadership roles with US Bank, Charter One (Citizens) Royal Bank of Scotland and Fifth Third Bank. She earned her MBA and Management Consulting Certification from Benedictine University and Bachelor of Arts in Finance from the University of Northern Iowa. Announcement • Aug 24
Associated Banc-Corp Appoints Tonjia Coverdale as Senior Vice President, Chief Strategy Officer in Operations and Technology Associated Banc-Corp announced Tonjia Coverdale has joined the Bank as senior vice president, chief strategy officer in operations and technology. She is responsible for guiding, challenging and providing practical support for the planning, long term development and effective delivery of the bank's operations and technology (OT) strategic plans and ambitions. Coverdale is a technology executive, professional and scholar who has cultivated her unique perspective through industry best practices, strategic focus, academic theories and applied research with nearly 30 years' experience and three degrees in technology. She was previously with Nationwide Mutual Insurance Company where she launched the enterprise data partner solutions team to mobilize data strategies for the entire enterprise including all lines of business and corporate functional units, led the finance technology team and strategized modernization efforts for enterprise performance management, planning/budgeting, risk management, treasury management, and regulatory reporting and drove strategic initiatives to support 25,000+ associates and led modernization efforts to support operations, compliance, litigation, and philanthropy as the leader of the workforce and legal technology team. Coverdale earned her Ph.D. in business administration - information science and systems from Morgan State University in addition to her MBA in computer information systems from Georgia State University, and her Bachelor of Science degree in information science and systems from Morgan State University. In the community, she is a member of several advisory boards that provide access to technology education and career opportunities including Project Lead the Way and Per Scholas. She is based in Columbus, Ohio. Upcoming Dividend • Aug 24
Upcoming dividend of US$0.21 per share at 5.0% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.1%). Announcement • Aug 11
Associated Banc-Corp Appoints Lauren Hess as Senior Vice President Lauren Hess has joined Associated Bank as senior vice president treasury management officer lead, commercial banking. She is responsible for managing mid-market commercial relationships with technical treasury services, building upon Associated Bank's nonprofit, healthcare and higher-education division, and sales enablement training within the bank's team of treasury management professionals. Hess brings more than 15 years of sales and leadership experience to Associated Bank. Announcement • Jul 23
Associated Banc-Corp Provides Earnings Guidance for the Year 2023 Associated Banc-Corp provided earnings guidance for the year 2023. For the period, the company expects total net interest income growth of 10% to 12%. Reported Earnings • Jul 21
Second quarter 2023 earnings released: EPS: US$0.56 (vs US$0.56 in 2Q 2022) Second quarter 2023 results: EPS: US$0.56 (up from US$0.56 in 2Q 2022). Revenue: US$301.4m (up 5.0% from 2Q 2022). Net income: US$84.3m (up 1.1% from 2Q 2022). Profit margin: 28% (down from 29% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Announcement • Jun 28
Associated Banc-Corp to Report Q2, 2023 Results on Jul 20, 2023 Associated Banc-Corp announced that they will report Q2, 2023 results After-Market on Jul 20, 2023 Upcoming Dividend • May 24
Upcoming dividend of US$0.21 per share at 5.3% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.1%). Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €13.50, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 22% over the past three years. Recent Insider Transactions • Apr 27
Independent Director recently bought €90k worth of stock On the 26th of April, Michael Haddad bought around 6k shares on-market at roughly €15.71 per share. This transaction increased Michael's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €94k. Despite this recent purchase, insiders have collectively sold €140k more in shares than they bought in the last 12 months.