Associated Banc Corp Stock Price, News & Analysis

Associated Bank (NYSE: ASB) has announced the promotion of Steven Zandpour to executive vice president, head of consumer and business banking, effective July 1, 2025. Zandpour will succeed David Stein, who plans to retire at the end of 2025 after 20+ years with the company. Zandpour, who joined Associated Bank in January 2024, will report to CEO Andrew J. Harmening and oversee revenue growth for consumer and business banking, branch network, contact centers, digital banking, and other key operations. Under his leadership, the bank has launched notable initiatives including family banking solutions and a customer-centric conversation model. Stein will transition to executive vice president, strategic advisor and Madison market president until his retirement.

Associated Bank (NYSE: ASB) announced the retirement of David Stein after more than 20 years with the company. Effective July 1, 2025, Stein will step down from his role as executive vice president, head of consumer and business banking, transitioning to executive vice president, strategic advisor. He will continue as Madison market president through the end of 2025.

During his tenure since 2005, Stein has led significant developments including branch network expansion, mortgage business growth, and digital product introduction. Steven Zandpour, who joined in January 2024, will succeed Stein as head of consumer and business banking effective July 1, 2025. Stein will assist in developing the bank's next strategic plan phase before his full retirement.

Associated Banc-Corp (NYSE:ASB) held its 2025 Annual Meeting of Shareholders, announcing key leadership elections and dividend declarations. The company's shareholders elected thirteen directors to the board, including Chairman John Williams and CEO Andrew Harmening.

The meeting resulted in three significant approvals:

• The 2025 Equity Incentive Plan
• Named executive officer compensation
• KPMG LLP as the independent accounting firm for 2025

The Board declared multiple dividend payments for June 16, 2025:

• Common stock: Quarterly cash dividend of $0.23 per share
• Series E Preferred Stock: $0.3671875 per depositary share (5.875%)
• Series F Preferred Stock: $0.3515625 per depositary share (5.625%)

All dividends will be paid to shareholders of record as of June 2, 2025.

Associated Banc-Corp (NYSE: ASB) reported strong Q1 2025 results with net income of $99 million, or $0.59 per share, compared to a loss of $164 million in Q4 2024 and earnings of $78 million in Q1 2024.

Key highlights include:

• Total loan growth of $526 million and deposit growth of $548 million
• Net interest income of $286 million with margin expansion to 2.97%
• Noninterest income of $59 million and noninterest expense of $211 million
• Strong credit quality with net charge-offs/average loans at 0.12%

The bank maintains a solid capital position with CET1 ratio of 10.11% and expects 5-6% loan growth and 1-2% deposit growth for 2025. Management expressed confidence in delivering enhanced stakeholder value despite macroeconomic uncertainty.

Associated Banc-Corp (NYSE: ASB) has announced that Julio Manso will become its new chief human resources officer effective June 2, 2025, succeeding Angie DeWitt who is retiring. Manso, 57, joins from KeyBank where he served as executive vice president of human resources since November 2020.

Reporting directly to Associated Bank President and CEO Andy Harmening, Manso will oversee all HR functions including succession planning, talent management, recruitment, culture development, organizational management, training, internal communications, and total rewards. He will be based in Milwaukee.

Manso brings experience from previous senior HR leadership roles at JPMorgan Chase (2016-2020). He holds degrees from Kansas State University, University of Pittsburgh, and University of Western Ontario.

Associated Banc-Corp (NYSE: ASB) announced that Chief Human Resources Officer (CHRO) Angie DeWitt will retire on June 2, 2025, after 17 years with the company. DeWitt, who joined in 2008 and became CHRO in 2019, has been instrumental in:

• Streamlining financial processes
• Creating profitability reporting
• Implementing talent management programs
• Navigating executive compensation
• Forming a culture team
• Launching refreshed Core Values

President & CEO Andy Harmening praised DeWitt's contributions to the organization's workforce development. DeWitt will remain with Associated as an advisor during the transition period to her successor.

Associated Banc-Corp (NYSE: ASB) has announced the opening of its first Missouri branch in St. Louis at Dellwood Crossing Shopping Center, marking a strategic expansion into a new market. The 6,000-square-foot facility, opening on April 21, 2025, will include a Community Advocacy Center and meeting space for over 30 people.

The branch will offer services including first-time home buyer education, financial literacy programs, and fraud prevention classes. The location will employ seven new staff members and features a full-service teller lobby with a 24-hour deposit-enabled ATM.

This expansion follows Associated's commercial presence in Missouri since 2006 and builds upon their Southern Illinois operations established in 1997. The St. Louis market represents Associated's sixth largest metropolitan statistical area, accounting for 3.6% of total bank deposits. The bank currently maintains 20 colleagues in Missouri, including recently added commercial team members in Kansas City.

Associated Banc-Corp (NYSE: ASB) has scheduled its first quarter 2025 earnings release and conference call for Thursday, April 24, 2025. The financial results will be released after market close, followed by a conference call at 4:00 p.m. Central Time.

Investors and analysts can participate through the company's website investor relations section or by dialing 877-407-8037 (domestic) or 201-689-8037 (international). Financial tables and presentation slides will be available on the website before the call, and an audio archive will be accessible approximately fifteen minutes after the call concludes.