Associated Banc-Corp - ASB STOCK NEWS

On November 1, 2021, Associated Banc-Corp (NYSE: ASB) announced significant executive leadership changes. Timothy J. Lau, head of community markets, plans to retire in Q2 2022 after over 30 years with the bank. Denis Hogan will also retire on December 31, 2021, but will continue to serve as an ambassador for the Northeast Wisconsin Advisory Board. Dennis DeLoye has been appointed as executive vice president and Northeast Wisconsin regional president, bringing 30 years of banking experience. These leadership transitions are expected to bolster the bank's community market strategy and growth in business banking.

The Board of Directors of Associated Banc-Corp (ASB) announced a quarterly cash dividend of $0.20 per common share, payable on December 15, 2021. Additionally, dividends of $0.3671875 and $0.3515625 will be paid for the Series E and Series F preferred stocks, respectively, on the same date. The Board also approved a $100 million share repurchase program, providing flexibility for stock buybacks subject to regulatory limits, aimed at enhancing shareholder value.

Associated Banc-Corp (NYSE: ASB) reported net income of $85 million, or $0.56 per share for Q3 2021, reflecting stability compared to $86 million in Q2 2021 but up from $40 million in Q3 2020. Average loans fell by $215 million to $23.9 billion, while average deposits rose by $604 million to $28.1 billion. Net interest income was $184 million, increasing by $4 million from the prior quarter. The bank launched a new Auto Finance vertical and improved its return on average tangible common equity to over 12.7%.

Associated Banc-Corp (NYSE: ASB) will raise its minimum hourly wage from $15 to $17, effective November 21, 2021, impacting about 35% of its workforce. This wage increase, primarily for entry-level positions, is part of a broader strategy to ensure competitive wages, with additional adjustments for higher-level roles. The bank has received accolades for customer satisfaction and is committed to enhancing employee benefits, which include comprehensive healthcare and educational assistance. This move aligns with their focus on talent development and retention.

Associated Banc-Corp (NYSE: ASB) will present at the BofA Securities 2021 Banking and Financials Conference on November 10, 2021, at 3:20 p.m. ET. Management will also meet with investors during the event. An investor presentation will be accessible beforehand on Associated Banc-Corp's website. As Wisconsin's largest bank holding company, Associated Banc-Corp boasts total assets of $34 billion and offers financial services across multiple states including Wisconsin, Illinois, and Minnesota. More details can be found at investor.associatedbank.com.

Associated Banc-Corp (NYSE: ASB) announced the launch of Associated Bank Auto Finance, an indirect auto lending service available through eligible dealerships in 13 states, including Michigan, Indiana, and New York, with a planned expansion to Wisconsin, Minnesota, and Illinois in 2022. The service will be led by Craig Stickney, bringing a team with over 100 years of combined experience. This initiative aims to enhance consumer financing options, offering service 362 days a year.

Associated Banc-Corp (NYSE: ASB) will announce its third quarter 2021 financial results on October 21, 2021, after market close. A conference call for investors and analysts is scheduled for 4:00 p.m. CT on the same day. Interested parties can access the live webcast through the Investor Relations section of the company's website or dial in using the provided phone numbers. Associated Banc-Corp is Wisconsin's largest bank holding company, with total assets of $34 billion and over 200 banking locations serving multiple states.

Associated Banc-Corp (NYSE: ASB) announced strategic expansions in lending and digital capabilities to enhance growth. Key initiatives include the launch of a new Auto Finance vertical and an Equipment Finance vertical slated for early 2022. The expansion will deepen relationships with manufacturing clients and improve customer experience. Additionally, the company is bolstering its Commercial Middle Market lending and Wealth strategy by recruiting experienced talent. These advancements aim to deliver higher shareholder returns and position the bank for accelerated revenue growth.

Associated Banc-Corp (NYSE: ASB) announced its participation in the 2021 Barclays Global Financial Services Conference on September 13, 2021, at 2:45 p.m. ET. Management will also engage with investors throughout the event. An investor presentation will be accessible before the conference on the company’s website, highlighting its position as Wisconsin's largest bank holding company with total assets of $34 billion. The bank operates over 220 locations across multiple states, providing comprehensive financial services.