Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 7

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 7
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 Merger                                    |     | The merger of American National with and into Associated, with Associated continuing as the surviving corporation         |
| Merger Agreement                          |     | The Agreement and Plan of Merger, dated as of November 30, 2025, by and between Associated and American National          |
| NYSE                                      |     | The New York Stock Exchange                                                                                               |
| SEC                                       |     | U.S. Securities and Exchange Commission                                                                                   |

iii

QUESTIONS AND ANSWERS The following are some questions that you may have about the Merger and brief answers to those questions. You are urged to read carefully the remainder of this information statement/prospectus because the information in this section does not provide all of the information that might be important to you with respect to the Merger. Additional important information is also contained in the documents incorporated by reference into this information statement/prospectus. See the section entitled “Where You Can Find More Information.”

| Q: | Why am I receiving this information statement/prospectus? |

As of November 30, 2025, the Dianne S. Lozier ANC Stock Holding Trust, the John F. Kotouc Special Holding Trust, the Thomas O. Kotouc Living Trust, and the Ann Duey Revocable Trust (together, the “American National voting shareholders”) held all of the outstanding shares of American National voting common stock. On November 30, 2025, the American National voting shareholders unanimously approved the Merger Agreement and the other transactions contemplated thereby, including the Merger, and delivered a unanimous written consent effecting such approval (the “American National shareholder approval”). This document is being delivered to you as both an information statement of American National and a prospectus of Associated in connection with the Merger. It is the information statement by which American National is notifying American National stockholders of the American National shareholder approval. In addition, this document is the prospectus by which Associated will issue shares of Associated common stock to American National shareholders in the Merger in accordance with the Merger Agreement.

| Q: | What will American National shareholders receive in the Merger? |

| A: | Under the terms and subject to the conditions set forth in the Merger Agreement, each share of American                                                                                                                                                
 National common stock issued and outstanding immediately prior to the effective time of the Merger (excluding certain shares excluded under the Merger Agreement) will be converted into the right to receive 36.250 shares of Associated common stock 
 (the “Merger Consider