Associated Announces Stock Dividend at Annual Meeting.Business Editors GREEN BAY, Wis.--(BUSINESS WIRE)--April 24, 2002 Associated Banc-Corp Associated Banc-Corp is a bank holding company headquartered in Green Bay, Wisconsin. As of early 2007, it had $20.8 billion in assets and was the 41st largest bank holding company in the United States.[1] The company has over 5101 employees. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ASBC ASBC American Society of Brewing Chemists (St. Paul, MN) ASBC American Small Business Coalition ASBC Air and Space Basic Course (USAF) ASBC Archaeological Society of British Columbia ) President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert Gallagher Robert Gallagher is an award-winning and worldwide published magazine photographer. Born in Kensington, West London, England in 1969, and currently based in Los Angeles, California. announced a 10 percent stock dividend at Wednesday's annual shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. . The stock dividend will accompany the company's regular May cash dividend of 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , and will have the effect of a 10 percent dividend increase, payable May 15. Shareholders of record on April 29 will receive the stock dividend, and shareholders of record on May 3 will receive the cash dividend. The stock dividend, in effect, increases the company's quarterly cash dividend by 10 percent, the 31st increase in Associated Banc-Corp's 32-year history. The May dividend will be the company's 129th consecutive quarterly dividend. Gallagher also outlined Associated's progress, saying the company is positioned well for a future of consistent strong performance. He noted the success of the company's efforts to shift its mix of loans and deposits, and its recent streamlining results, including the smooth integration of several banking and other subsidiaries. 2001's financial results began to show the benefit of that progress, he said. Gallagher said the stock market has begun to reward the company's improvements with a higher share price. He noted Associated compares favorably with both large and mid-size banks in many categories of financial performance, while its stock trades at lower multiples than most of its peers. The company is demonstrating solid performance from its improved business mix, its higher net interest margin, and improving fee income as it executes its strategic plan. At the same time, he said, the company's longstanding business philosophy - combining a highly efficient operating platform with the customer relationships built around strong community banking values - continues to provide a sustainable competitive advantage. He told shareholders the company is on track to meet the earnings guidance it gave in January: earnings per share growth of 10 to 12 percent in 2002. Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified multibank holding company Noun 1. multibank holding company - a bank holding company owning several banks bank holding company - a holding company owning or controlling one or more banks with total assets of $14.3 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. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are interest rates, changes in the mix of the company's business, competitive pressures, general economic conditions and the risk factors detailed in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. |
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