ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) is a bank holding company and the largest bank holding company headquartered in Wisconsin. The company traces its banking heritage back to 1861 with the founding of the Bank of Neenah and was incorporated in Wisconsin in 1964. Associated operates through its principal subsidiary, Associated Bank, a nationally chartered commercial bank headquartered in Green Bay, Wisconsin, along with a nationally chartered trust company based in Milwaukee and twelve additional limited purpose banking and nonbanking subsidiaries. The company maintains a four-state branch footprint across Wisconsin, Illinois, Minnesota, and Missouri, operating 184 banking branches serving more than 100 communities as of December 31, 2025.

The company's business is organized into three reportable segments: Corporate and Commercial Specialty, which serves larger commercial clients; Community, Consumer, and Business, which serves individuals and smaller businesses; and Risk Management and Shared Services. Associated provides a comprehensive array of banking and nonbanking products and services including commercial lending, consumer banking, wealth management, investment services, and mortgage banking. The company is not dependent on any single customer or small group of customers for material revenue.

Associated employs approximately 4,000 colleagues across its operations, with an average workforce tenure of 8.8 years. The company emphasizes human capital development, reporting low voluntary turnover of 12 percent in 2025 while promoting internal advancement through nearly 853 internal promotions or lateral moves. The organization maintains a non-union workforce and focuses on diversity, equity, and inclusion through seven colleague resource groups.

In November 2025, Associated announced a definitive merger agreement to acquire American National Corporation in an all-stock transaction valued at approximately 604 million dollars, with the transaction expected to close in the second quarter of 2026 subject to regulatory approvals. The acquisition would expand the company's asset base and market presence in the Midwest region.