GREEN BAY, Wis.--(BUSINESS WIRE)--
Associated Banc-Corp (NASDAQ: ASBC) announced today that it has sold
$525 million of senior preferred shares and related common stock
warrants to the U.S. Department of the Treasury under the federal
government's voluntary Capital Purchase Program.
"The Treasury Department's investment is confirmation of the strength of
Associated Banc-Corp," said Paul S. Beideman, Chairman and CEO.
The additional capital will increase the company's Tier 1 capital ratio
to 12.22% from 9.22% at September 30, 2008, and increase the total
capital ratio to 14.08%, compared to 11.08% at September 30, 2008.
"The additional capital will support our customers' borrowing needs and
other growth opportunities in our markets," Beideman continued. "We
believe our participation in the Capital Purchase Program will benefit
our customers, shareholders and the communities we serve."
Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified
bank holding company with total assets of $22 billion. Associated has
approximately 300 banking offices serving 180 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.
Source: Associated Banc-Corp
Contact: Associated Bank
Janet L. Ford, SVP, Public Relations Director
414-278-1890
janet.ford@associatedbank.com