GREEN BAY, Wis., April 27, 2021 /PRNewswire/ -- Associated
Banc-Corp (NYSE:ASB) ("Associated") today announced the results of
the actions taken at its 2021 Annual Meeting of Shareholders.
The following directors were re-elected:
- John (Jay) B. Williams,
chairman, Associated Banc-Corp, and chairman, Church Mutual
Insurance Company
- Philip B. Flynn, president and
chief executive officer, Associated Banc-Corp
- John F. Bergstrom, chairman and
chief executive officer, Bergstrom Corp.
- R. Jay Gerken, director of 19
mutual funds associated with Sanford C. Bernstein Fund, Inc.
- Judith P. Greffin, former chief
investment officer, Allstate Corporation
- Michael J. Haddad, chair of the
board of directors, Schreiber Foods, Inc.
- Robert A. Jeffe, senior
operating partner, BlackWatch
- Eileen A. Kamerick, adjunct
professor of law and consultant
- Gale E. Klappa, executive
chairman, WEC Energy Group
- Cory L. Nettles, founder and
managing director, Generation Growth Capital, Inc.
- Karen T. van Lith, CEO of APEL Worldwide, LLC
Shareholders also (1) gave advisory approval to named executive
officer compensation, and (2) ratified the selection of KPMG LLP as
Associated's independent accounting firm for 2021.
Dividends
The Associated Board of Directors declared a regular quarterly
cash dividend of $0.18 per common
share, payable on June 15, 2021, to shareholders of record at
the close of business on June 1,
2021.
The Board of Directors also declared a regular quarterly cash
dividend of $0.3828125 per depositary
share on Associated Banc-Corp's 6.125% Series C Perpetual Preferred
Stock, payable on June 15, 2021 to
shareholders of record at the close of business on June 1, 2021.
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, 2021 to
shareholders of record at the close of business on June 1, 2021.
The Board of Directors also declared a regular quarterly cash
dividend of $0.3671875 per depositary
share on Associated's 5.875% Series E Perpetual Preferred Stock,
payable on June 15, 2021 to
shareholders of record at the close of business on June 1, 2021.
The Board of Directors also declared a regular quarterly cash
dividend of $0.3515625 per depositary
share on Associated's 5.625% Series F Perpetual Preferred Stock,
payable on June 15, 2021 to
shareholders of record at the close of business on June 1, 2021.
6.125% Perpetual Preferred Stock, Series C Redemption
In addition, the Board called for redemption on June 15, 2021 (the "Redemption Date") of all of
its outstanding depositary shares (NYSE: ASB PR C) representing a
1/40th interest in a share of Associated's 6.125% Perpetual
Preferred Stock, Series C (the "Depositary Shares"). As of
today, there are 2,600,000 Depositary Shares outstanding. The
Depositary Shares will be redeemed at a redemption price of
$25 per Depositary Share, plus an
amount equal to any declared and unpaid dividends to the Redemption
Date.
A notice of redemption and related materials will be transmitted
to holders of record of the Depositary Shares on April 27, 2021. The Depositary Shares are held
through The Depository Trust Company ("DTC") and will be redeemed
in accordance with the procedures of DTC. Payment to DTC will
be made by Equiniti Trust Company, in accordance with the Deposit
Agreement among Associated, Wells Fargo Bank, N.A. (now known as
Equiniti Trust Company) and the Holders from Time to Time of the
Depositary Receipts Described Therein, dated as of June 8, 2015. Questions related to the
notice of redemption and related materials should be directed to
Equiniti Trust Company, as Associated's redemption agent (the
"Redemption Agent"), at 1-800-468-9716. The Redemption Agent's
address is Equiniti Trust Company, Attn: Corporate Actions
Department, 1110 Centre Pointe Curve Suite 101, Mendota Heights, MN 55120.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of
$35 billion and is one of the top 50,
publicly traded, U.S. bank holding companies. Headquartered in
Green Bay, Wisconsin, Associated
is a leading Midwest banking franchise, offering a full range of
financial products and services from more than 220 banking
locations serving more than 120 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", "target", 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:
Ben McCarville, Vice President,
Director of Investor Relations
920-491-7059
Media Contact:
Jennifer
Kaminski, Vice President, Public Relations Senior
Manager
920-491-7576
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SOURCE Associated Banc-Corp