Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 2

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 2
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On November 30, 2025, Associated and American National entered into an Agreement and Plan of Merger (as amended from time to time, the “Merger Agreement”) that (i) provides for the merger of American National with and into Associated, with Associated as the surviving corporation (the “Merger”) and (ii) contemplates that immediately following the Merger or at such later time as Associated may determine in its sole discretion, American National Bank, a wholly owned subsidiary of American National, will merge with and into Associated Bank, National Association (“Associated Bank”), a wholly owned subsidiary of Associated, with Associated Bank as the surviving bank. As described below, on November 30, 2025, American National delivered to Associated a duly executed unanimous written consent of the American National voting shareholders, constituting the shareholder approval required to consummate the Merger. As such, no further approval of American National shareholders is required to consummate the Merger, and you are not required to take any action to receive your shares of Associated common stock that will be issued in the Merger. The Merger remains subject to customary closing conditions, including the receipt of required regulatory approvals. If the Merger is completed, each share of American National common stock issued and outstanding immediately prior to the effective time of the Merger will be converted into the right to receive 36.250 shares of common stock, par value $0.01 per share, of Associated (the “Associated common stock”) (the “Merger Consideration”), with cash in lieu of fractional shares. Based on the closing price of Associated common stock on November 28, 2025, the last trading day prior to the public announcement of the Merger, the Merger Consideration represented a value of approximately $953.01 per share of American National common stock, or approximately $604 million in the aggregate. Based upon the closing price of Associated common stock on December 22, 2025, the most recent practicable date preceding the date of this information statement/prospectus, the Merger Consideration represented a value of $967.51 per share of American National common stock. The dollar value of the consideration that American National shareholders will receive will change depending on fluctuations in the market price of Associated common stock. You can obtain current stock quotations for Associated common stock, which is listed on the New York Stock Exchange under the symbol “ASB.” If the Merger is completed, existing Associated shareholders will own approximately 88% of Associated’s common stock immediately following