Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 56

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 56
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 change in any material respect its lending, collateral eligibility,                                                                                                                                               
 investment, underwriting, risk and asset liability management, interest rate or fee pricing policies and other banking and operating, hedging, securitization and servicing policies (including any change in the maximum ratio or similar limits as a 
 percentage of its capital exposure applicable with respect to its loan portfolio or any segment thereof), except as required by such policies or applicable law, regulation or policies imposed by any governmental entity;                            |

| • |     | except pursuant to existing commitments entered into prior to the date of the Merger Agreement and disclosed to                                                                                                                                     
 Associated prior to the date of the Merger Agreement, make or acquire, renew, modify in any material respect or extend any loans that, (i) are outside of the ordinary course of business consistent with past practice or inconsistent with, or in 
 excess of the limitations contained in, American National’s loan policy or (ii) (x) with respect to loans to existing customers (including such customer’s affiliates), increase the aggregate outstanding commitments or credit                    
 exposure to any such existing customer by the greater of $25,000,000 less the preexisting commitments or credit exposure to such existing customer or $12,000,000; or (y) with respect to loans to new customers, result in an aggregate commitment 
 or credit exposure to any such new customer in excess $25,000,000 in each case of this clause (ii), without first notifying and, if requested by Associated within one business day of receipt of such notice, consulting with Associated (which    
 notification will be made through certain designated representatives of Associated);                                                                                                                                                                |

| • |     | make, or commit to make, any capital expenditures that exceed by more than five percent (5%) American                                                                                                                                       
 National’s capital expenditure budget set forth in the American National Disclosure Schedule; provided, however, American National shall not be required to obtain Associated’s prior written consent and shall only be required to provide 
 Associated prompt after-the-fact notice of capital expenditures for emergency repairs or replacements necessary to prevent substantial deterioration of the condition of                                                                    
 a property;                                                                                                                                                                                                                                 |

| • |     | make, change or revoke any material tax election (including, for the avoidance of doubt, any election in respect                                                                                                                                    
 of the tax treatment of American National as an “S corporation” within the meaning of Sections 1361 and 1362 of the Code (and any analogous provisions of applicable state or local law) or the tax treatment of any subsidiary of