GREEN BAY, Wis.--(BUSINESS WIRE)--April 27, 2005--Associated
Banc-Corp (Nasdaq:ASBC) President and CEO Paul S. Beideman announced
an increase in the company's regular quarterly cash dividend to 27
cents per share, from 25 cents, at today's Annual Meeting of
shareholders.
Shareholders of record on May 9 will receive the higher dividend
on May 16. The action makes 2005 the 35th consecutive year of dividend
increases for Associated.
At the annual meeting, Beideman cited the company's success in
implementing its strategic priorities.
"Several key initiatives contributed to our 2004 progress,
producing earnings growth of 10 percent and a total shareholder return
of 20 percent," he said. He cited several strategic priorities
including business lending, wealth management services, deposit growth
and asset quality, among others.
He added, "More importantly, we advanced our vision of being the
preferred provider of financial services for business and individuals
in the communities we serve. For us, these are not just words that
hang on the wall. They define the approach each associate brings to
everything they do." He told shareholders the company has invested in
its people and improved systems and accountability to make the quality
of the interaction with our people a point of differentiation that
customers notice.
Beideman also said the First Federal acquisition and integration,
announced a year earlier, had gone smoothly. The addition of its 100
banking locations, including 50 supermarket branches, adds convenience
to Associated customers while bringing a much broader product line to
former First Federal customers.
Beideman also discussed Associated's recently announced plan to
acquire State Financial Services Corp. State Financial is a $1.5
billion financial services company based in Milwaukee, with 29 banking
branches in Southeastern Wisconsin and Northeastern Illinois.
"State Financial's footprint extends Associated's presence into
attractive growing markets in Southeast Wisconsin and Northeast
Illinois. Their geographical position, their strong commercial lending
capabilities and their good people complement Associated's franchise
well," he said.
"The skill and diligence shown by our associates during the
integration of First Federal give us the confidence to seize this
opportunity and, with it, to expand our ability to serve our
customers," he said.
Beideman's remarks at the Green Bay meeting were Webcast. An
archived recording of the Webcast will be available later in the day
through Associated's web site, www.associatedbank.com, in the Investor
Relations area.
Associated Banc-Corp, headquartered in Green Bay, Wis., is a
diversified multibank holding company with total assets of $20.5
billion. Associated has more than 300 banking offices serving more
than 170 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.
CONTACT: Associated Banc-Corp
Joe Selner (Investors), 920-491-7120
or
Jon Drayna (Media), 920-491-7006
SOURCE: Associated Banc-Corp