Key Takeaways
- Associated Banc-Corp elected 11 directors to its Board at the 2026 Annual Meeting, including incumbent leaders and new members with diverse finance, technology, and industry expertise.
- Shareholders approved named executive officer compensation and ratified KPMG LLP as the independent auditor for 2026.
- The Board honored three retiring directors (R. Jay Gerken, Robert A. Jeffe, Gale E. Klappa) with $25,000 charitable donations each in their names.
- A regular quarterly cash dividend of $0.24 per common share was declared, payable June 15, 2026, alongside specific dividends for Series E and F Perpetual Preferred Stock.
- The Board authorized an additional $100 million for common stock repurchases, increasing the total repurchase authorization to $214 million as of April 28, 2026.
- A new Technology Committee was established to oversee data management, IT, information security, vendor management, and related risk mitigation efforts.
Associated Banc-Corp Announces 2026 Annual Meeting of Shareholders Results
Associated Banc-Corp (NYSE: ASB) today disclosed the outcomes of shareholder actions taken during its 2026 Annual Meeting of Shareholders, held in Green Bay, Wisconsin. The meeting covered standard governance matters including director elections, executive compensation approvals, auditor ratification, dividend declarations, capital return initiatives, and the formation of a new board committee focused on technology oversight. These actions reflect the Board’s ongoing commitment to governance, shareholder return, and strategic risk management as the company operates within its Midwestern banking footprint.
Director Elections Results
Shareholders elected eleven individuals to serve on the Associated Banc-Corp Board of Directors. The elected directors are: John (Jay) B. Williams (Chairman of Associated Banc-Corp and Chairman of Church Mutual Insurance Company); Owen J. Sullivan (Vice Chairman of Associated Banc-Corp and former President/COO of NCR Corporation); Andrew J. Harmening (President and CEO of Associated Banc-Corp); Judith P. Greffin (Former Chief Investment Officer, Allstate Corporation); Michael J. Haddad (Chair of the Board, Schreiber Foods, Inc.); Rodney Jones-Tyson (Global Chief Human Resources Officer, Baird Financial Group); Eileen A. Kamerick (Adjunct Professor of Law and Consultant); Wende L. Kotouc (Former Executive Co-Chairperson/CEO of American National Bank and EVP of American National); Kristen M. Ludgate (Former Strategic Advisor and former Chief People Officer at HP Inc.); Cory L. Nettles (Founder and Managing Director, Generation Growth Capital, Inc.); and Karen T. van Lith (Founder and CEO of APEL Worldwide, LLC). This slate combines continuity with Associated leadership and fresh perspectives from various sectors.
Executive Compensation and Auditor Ratification
In addition to director elections, shareholders voted on two key advisory and routine matters. They approved the compensation of the company’s named executive officers as presented in the proxy materials. Furthermore, shareholders ratified the appointment of KPMG LLP as Associated Banc-Corp’s independent registered public accounting firm for the fiscal year 2026, affirming the Board’s recommendation regarding the external audit relationship.
Recognition of Retiring Directors
The Board of Directors formally acknowledged the retirement of three long-serving members: R. Jay Gerken, Robert A. Jeffe, and Gale E. Klappa. Chairman John (Jay) B. Williams expressed deep gratitude for their years of service and leadership. As a tribute to their contributions, the Company announced a charitable donation of $25,000 in each director’s name to a charity of their individual choice. The Board thanked Gerken, Jeffe, and Klappa for their dedication and wished them well in their future endeavors.
Dividend Declarations for Common and Preferred Stock
The Board declared regular quarterly cash dividends applicable to multiple share classes. For common stock, a dividend of $0.24 per share was declared, payable on June 15, 2026, to shareholders of record at the close of business on June 1, 2026. Regarding preferred stock, the Board declared a dividend of $0.3671875 per depositary share on the 5.875% Series E Perpetual Preferred Stock, also payable June 15, 2026, to holders of record June 1, 2026. Similarly, a dividend of $0.3515625 per depositary share was declared on the 5.625% Series F Perpetual Preferred Stock, with the same payment and record dates. These declarations underscore the Board’s commitment to returning capital to shareholders across different equity classes.
Stock Repurchase Program Authorization
The Board authorized an additional repurchase of up to $100 million of Associated Banc-Corp’s common stock. This authorization supplements any remaining authority from prior repurchase programs. Consequently, the total authorization to repurchase common stock stands at $214 million as of April 28, 2026. The Bank clarified that repurchases under this program are subject to regulatory constraints and may be executed via open market purchases, block transactions, accelerated share repurchase agreements, or other similar mechanisms, contingent on market conditions and strategic considerations.
Establishment of the Technology Committee
Recognizing the increasing importance of technology risk and oversight, the Board of Directors formally established a Technology Committee. This new committee is tasked with overseeing critical areas including Associated Banc-Corp’s data management practices, information technology systems and infrastructure, information security protocols, vendor management relationships, and the specific measures the company implements to assess and mitigate risks inherent in these domains. The creation of this committee highlights the Board’s focus on strengthening governance around technological resilience and operational risk in an increasingly digital financial services landscape.
About Associated Banc-Corp
Associated Banc-Corp (NYSE: ASB) is a bank holding company with approximately $50 billion in total assets, headquartered in Green Bay, Wisconsin. It operates as the largest bank holding company headquartered in Wisconsin and serves as a leading Midwestern banking franchise. The company provides a full spectrum of financial products and services through over 200 banking locations across Wisconsin, Illinois, Iowa, Minnesota, Missouri, and Nebraska. Additionally, Associated Banc-Corp maintains loan production offices in Indiana, Kansas, Michigan, New York, Ohio, and Texas. Its banking subsidiary, Associated Bank, N.A., operates as an Equal Housing Lender, Equal Opportunity Lender, and is a member of the FDIC. Further details are accessible via the company’s website, www.associatedbank.com.
Forward-Looking Statements Disclaimer
The press release includes a standard caution regarding forward-looking statements. It notes that statements concerning future plans, objectives, goals, products, services, or financial performance forecasts (identified by terms like "believe," "expect," "plan," etc.) are subject to inherent risks and uncertainties. Actual results may differ materially due to factors such as the successful completion and integration of the proposed transaction with American National Bank, the realization of anticipated transaction benefits, and other risk factors detailed in the company’s SEC filings (including Form 10-K and 10-Q reports), which are incorporated by reference. This disclaimer ensures investors understand the speculative nature of forward-looking information.