GREEN BAY, Wis.--(BUSINESS WIRE)--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
http://www.associatedbank.com/AboutAssociated/InvestorRelations/.
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.
CONTACT: Associated Banc-Corp
Joe Selner (Investors), 920-491-7120
Jon Drayna (Media), 920-491-7006
SOURCE: Associated Banc-Corp