Associated Banc-Corp Sets Public Offering for Growth Funding

Associated Banc-Corp Announces Stock Offering

Associated Banc-Corp (NYSE: ASB) has recently made headlines with its announcement regarding a public offering of its common stock. The company is set to offer 12 million shares, each with a par value of $0.01, at a price of $25.00 per share. This means the total gross proceeds from this offering are expected to reach an impressive $300 million.

Additional Shares and Closing Details

In a strategic move, Associated Banc-Corp has also granted the underwriters the option to purchase up to 1.8 million additional shares within a 30-day window following the pricing date. The closing of this offering is anticipated soon, contingent upon the fulfillment of customary closing conditions.

Funding for Corporate Growth Initiatives

The funds generated from this public offering are earmarked for general corporate purposes. Associated Banc-Corp's management has indicated that these proceeds will support continued organic growth and reinforce capital generation efforts. This may also include possible investments in Associated Bank, N.A. and various balance sheet optimization strategies.

Joint Book-Running Managers of the Offering

The offering will be managed by BofA Securities and J.P. Morgan, both of whom are acting as joint book-running managers. Their involvement underlines the significant trust and reputation these institutions have earned in the banking and financial sectors.

Regulatory Framework and Compliance

All common stock shares will be issued in compliance with an effective shelf registration statement and along with a preliminary prospectus supplement filed with the Securities and Exchange Commission (SEC). The final prospectus supplement will follow, ensuring all necessary legal requirements are met for investor transparency.

How to Access Offering Documents

For investors interested in more information, copies of the registration statement and the accompanying base prospectus concerning the Common Stock offering can be easily accessed through the SEC's website without any charge. This openness is part of Associated Banc-Corp's commitment to maintaining transparency with its potential investors.

About Associated Banc-Corp

Based in Green Bay, Associated Banc-Corp is a prominent player in the banking sector, boasting total assets worth $42 billion. As the largest bank holding company in its home state, it provides a wide range of financial products and services through nearly 200 banking locations. These serve over 100 communities across various states, including Wisconsin, Illinois, and Minnesota. The organization's reach even extends to loan production offices in several states, reinforcing its commitment to serving diverse markets.

Commitment to Equal Opportunities

Associated Bank, N.A. maintains a strong dedication to fair lending practices, ensuring it operates as an Equal Housing Lender and an Equal Opportunity Lender. Its status as a Member FDIC emphasizes the company's reliability and commitment to the financial security of its customers.

Frequently Asked Questions

What is the purpose of Associated Banc-Corp's stock offering?

The funds from the stock offering will primarily be used for general corporate purposes, supporting growth and capital generation.

Who are the joint book-running managers for the offering?

BofA Securities and J.P. Morgan are the joint book-running managers for this stock offering.

When is the expected closing date for the offering?

The closing of the offering is expected soon, pending the satisfaction of customary closing conditions.

Where can investors access documentation related to the offering?

Investors can obtain copies of the registration statement and related documents through the SEC's official website.

What markets does Associated Banc-Corp serve?

Associated Banc-Corp operates in several states, including Wisconsin, Illinois, Minnesota, and has offices in states like Indiana and Texas, among others.

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