Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 10

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 10
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 the Merger, the size of the                                                                                                                                          
 Associated board of directors will be increased by one, and Wende Kotouc, Executive Co-Chairman and Chief Executive Officer of American National Bank and Executive Vice President and director of American                                    
 National, will be appointed to the Associated board of directors. Ms. Kotouc will serve in accordance with the corporate governance guidelines and standards applicable to all Associated directors. No other changes to the membership of the 
 Associated board of directors are expected as a result of the Merger.                                                                                                                                                                          |

2

| The officers of Associated as of immediately prior to the effective time of the Merger will continue to serve as the officers of the surviving corporation. For more information, see the section 
 entitled “The Merger — Governance of Associated After the Merger.”                                                                                                                                |

| Q: | What are the conditions to completion of the Merger? |

| A: | The obligations of Associated and American National to complete the Merger are subject to the                                                                                                                                                        
 satisfaction or waiver of certain closing conditions contained in the Merger Agreement, including the receipt of required regulatory approvals and the expiration of statutory waiting periods in respect thereof, receipt of tax opinions and other 
 customary closing conditions. For more information, see the section entitled “The Merger Agreement — Conditions to Completion of the Merger.”                                                                                                        |

| Q: | What happens if the Merger is not completed? |

| A: | If the Merger is not completed, American National shareholders will not receive any Merger Consideration                                                                                                                                             
 for their shares of American National common stock. In that event, American National will continue to operate as an independent company and Associated will not issue any shares of Associated common stock pursuant to the Merger Agreement. If the 
 Merger is not completed, the rights of American National shareholders will remain unchanged, and their shares will continue to represent an ownership interest in American National as they did prior to the proposed Merger.                        |

| Q: | Should I send in my American National stock certificates now? |

| A: | No. Please do not send in your stock certificates. If and after the Merger is completed, an exchange                                                                                                                                        
 agent designated by Associated and reasonably acceptable to American National (the “exchange agent”) will send you instructions for exchanging American National stock certificates for the consideration to be received in the Merger. See 
 the section entitled “The Merger Agreement — Conversion of Shares; Exchange of American National Stock Certificates.”                                                                                                                       |

| Q: | Who can help answer my