Associated Banc-Corp - ASB STOCK NEWS

Associated Banc-Corp (NYSE: ASB) has announced a proposed public offering of 11.5 million shares of its common stock, with an additional option for underwriters to purchase up to 1.725 million shares within 30 days of pricing. The company plans to use the net proceeds for general corporate purposes, including supporting organic growth, capital generation, and potential investments in Associated Bank, N.A. BofA Securities and J.P. Morgan are serving as joint book-running managers for the offering. The stock will be issued under an effective shelf registration statement with the SEC.

Associated Banc-Corp (NYSE: ASB) announced a decrease in its prime rate from 8.00% to 7.75%, effective November 8, 2024. The rate change affects Associated Bank, N.A., the company's banking subsidiary.

Associated Banc-Corp (NYSE: ASB) has announced its participation in the 2024 Piper Sandler East Coast Financial Services Conference in Naples, FL, scheduled for November 13-15, 2024. The company's management team will engage with investors during the event. Fourth quarter investor materials will be accessible before the conference through the company's Investor Relations website section at investor.associatedbank.com.

Associated Banc-Corp (NYSE: ASB) announced two key appointments to its Executive Leadership Team effective November 1, 2024. Phillip Trier, 46, will become executive vice president, head of Corporate and Commercial Banking, while Gregory Warsek, 60, will serve as executive vice president, deputy head of Commercial Real Estate and Facilities. The appointments come as part of a leadership restructuring, with Paul Schmidt stepping down from the ELT in March 2025 but remaining as Twin Cities market president until his planned retirement at the end of 2025. Additionally, John Utz will transition to head of Specialized Industries and Capital Markets while maintaining his role as Milwaukee market president.

Associated Banc-Corp (NYSE: ASB) has announced an increase in its quarterly cash dividend. The company's Board of Directors declared a regular quarterly dividend of $0.23 per common share, representing a $0.01 increase from the previous $0.22. The dividend will be payable on December 16, 2024, to shareholders of record as of December 2, 2024. Additionally, the Board declared quarterly dividends for Series E Preferred Stock at $0.3671875 per depositary share and Series F Preferred Stock at $0.3515625 per depositary share, both payable on the same dates.

Associated Banc-Corp (ASB) reported Q3 2024 net income of $85 million, or $0.56 per share, compared to $113 million ($0.74/share) in Q2 2024 and $80 million ($0.53/share) in Q3 2023. The quarter saw $373 million in loan growth and $618 million in core customer deposit growth. Key metrics include net interest income of $263 million, net interest margin of 2.78%, and noninterest income of $67 million. The company maintains strong credit quality with an allowance for credit losses ratio of 1.33% and net charge-offs of 0.18%. ASB expects 2024 loan growth at the lower end of 4-6% range and core customer deposit growth at the lower end of 3-5% range.

Associated Banc-Corp (NYSE: ASB) has announced the launch of a new Specialty Deposits and Payment Solutions national vertical, appointing Rick Bruhn as senior vice president and head of this division. Bruhn, with over 20 years of financial services experience, will be responsible for:

• Building the new business vertical
• Driving the specialty deposits and payment solutions strategy
• Aligning with the bank's growth goals
• Driving new client acquisition
• Helping fund overall enterprise growth

This appointment is part of Associated's Phase 2 strategy to expand corporate and commercial banking capabilities and boost deposit and treasury management revenue. Bruhn's expertise is expected to accelerate this strategic initiative.

Associated Banc-Corp (NYSE: ASB) has announced its plans to release third quarter 2024 financial results on Thursday, October 24, 2024, after market close. The company will also host a conference call for investors and analysts at 4:00 p.m. Central Time on the same day.

Interested parties can access the live webcast through the Investor Relations section of the company's website. Alternatively, they can dial into the call at 877-407-8037 (domestic) or 201-689-8037 (international). Financial tables and an accompanying slide presentation are expected to be available on the company's website prior to the call. An audio archive of the webcast will be accessible on the website approximately fifteen minutes after the call concludes.

Associated Banc-Corp (NYSE: ASB), the holding company for Associated Bank, N.A., has announced a decrease in its prime rate from 8.50% to 8.00%. This change will take effect on September 19, 2024. The prime rate is a key benchmark used by banks to set interest rates for various financial products, including loans and credit lines. This reduction in the prime rate could potentially impact the company's lending activities and overall financial performance.