Associated Banc-Corp Raises Dividend at Annual Meeting.Business Editors GREEN BAY, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--April 25, 2001 The Directors of 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. , in conjunction with today'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. , increased the company's quarterly dividend from 29 cents to 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. , an increase of approximately 7 percent. The increased dividend, payable May 15 to Associated Banc-Corp shareholders of record May 1, will represent Associated's 125th consecutive quarterly dividend. It also represents the 30th consecutive year of dividend increases. In remarks prepared for the meeting, 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 C. Gallagher also said he was pleased with the company's ability to rise to the challenges presented by a difficult interest rate environment in 2000 and position itself well for improved growth. The company reported earnings per share growth of 5.1 percent in 2000, supported by loan growth of 8 percent, solid asset quality, improved fee income and excellent expense control. More specifically, the company has accelerated growth of its commercial loan portfolio and improved several areas of fee income, which will make the company's earnings more stable in times of changing interest rates. Additionally, the company is becoming more streamlined and improving productivity. The company instituted a new technology platform in 2000, improving customer service and allowing the company to better anticipate customers' needs. The company is also consolidating its Wisconsin bank charters to streamline operations and improve efficiency, thus heightening height·en v. height·ened, height·en·ing, height·ens v.tr. 1. To raise or increase the quantity or degree of; intensify. 2. To make high or higher; raise. v.intr. associates' focus on customers. Associated is also making organizational changes that will allow it to more effectively leverage the skill and experience of its bankers, Gallagher said. At the same, he said, Associated remains committed to its hallmark hallmark, mark impressed on silverwork or goldwork to signify official approval of the standard of purity of the metal, also called plate mark. The hallmark was introduced by statute in England in 1300 and enforced by the Goldsmiths' Hall, London. community banking philosophy, which gives highly experienced bankers significant decision-making authority to provide services that are appropriate for the communities they support. "Associated has been successful year in and year out for 31 years because of the unique way we position ourselves in the communities where we do business," he said. "Our people know their customers and their communities, and we trust them to do what's right for their customers, their communities, and the company," he said. Gallagher also confirmed the company's objectives of increasing earnings in the range of 10 percent annually, and he reiterated an earnings per share of $2.60 to $2.65 for 2001. Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified diversified (di·verˑ·s 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 $13.1 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. For more information about Associated, visit www.AssociatedBank.com. |
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