Jon Drayna, Vice President, Corporate Communications
Associated Banc-Corp
920-491-7006
News Release
GREEN BAY, Wis. – April 28, 2004 – Associated Banc-Corp (Nasdaq: ASBC)
President and CEO Paul Beideman announced a 3-for-2 stock split and an
increase of 10.3 percent on the company’s cash dividend at today’s Annual
Meeting of shareholders.
Shareholders of record on May 7 will receive the split on May 12. A cash
dividend of $0.25 per share will be paid May 21 to shareholders of record as
of May 18. This timetable means shareholders will receive the dividend on
the post-split shares. The action will make 2004 the 34th consecutive year
of dividend increases for Associated.
At the annual meeting, Beideman gave shareholders an outline of Associated’s
strategic priorities, including diversifying revenue streams, achieving
top-tier performance among the company’s peer group, and investing in people
so they can deliver the best the company has to offer to its customers.
“We’re making excellent progress on our strategic priorities while keeping
sight of the business model that has served our customers and our
shareholders very well for a long time. We’re very encouraged by our recent
results and optimistic about our prospects to become one of the best
performing mid-cap banks in the United States,” he said.
Beideman also described the prospects for the planned acquisition of First
Federal Capital Corp, which the company announced earlier in the day,
saying, “We welcome the skills First Federal brings to Associated. First
Federal enhances our distribution capabilities in attractive markets, and
provides the opportunity to cross-sell our expansive line of services to a
larger customer base.”
“First Federal is a 70-year-old organization that shares the values and work
ethic that have been such a strength for Associated. As part of Associated,
the people of First Federal will be able to maintain these values, while
bringing a more comprehensive array of products and services to their
customers,” Beideman said.
Associated held its meeting at Lambeau Field, citing the bank’s longstanding
relationship with the Green Bay Packers.
Beideman’s remarks were Webcast. An archived recording of the Webcast is
available through Associated’s web site, at
Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified
multibank holding company with total assets of $15.5 billion. Associated has
more than 200 banking offices serving more than 150 communities in
Wisconsin, Illinois, and Minnesota. The company offers a full range of
traditional banking services and a variety of other financial products and
services. More information about Associated Banc-Corp is available at
www.AssociatedBank.com.
Statements made in this document that 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.
Forward-looking statements are based on current management expectations and,
by their nature, are subject to risks and uncertainties. These statements
may be identified by the use of words such as “believe,” “expect,”
“anticipate,” “plan,” “estimate,” “should,” “will,” “intend,” or similar
expressions. Outcomes related to such statements are subject to numerous
risk factors and uncertainties including those listed in the company’s
Annual Report filed on Form 10-K.
