Company: ASB
Filing Date: 2025-12-04
Form Type: 425
Source: 0001193125-25-307510
Chunk: 10

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-04
Form: 425
Chunk 10
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12 |
| SEC                                               |     | 12 |
| Securities Act                                    |     | 36 |
| Shareholders’ Agreement                           |     |  1 |
| SRO                                               |     | 12 |
| Subsequent Unaudited Monthly Financial Statements |     | 51 |
| Subsidiary                                        |     |  9 |
| Surviving Corporation                             |     |  1 |
| Takeover Restrictions                             |     | 30 |
| Tax                                               |     | 17 |
| Tax Contest                                       |     | 59 |
| Tax Return                                        |     | 18 |
| Taxes                                             |     | 17 |
| Termination Date                                  |     | 63 |
| Treasury Regulations                              |     | 18 |
| Unaudited 1H 2025 Financial Statements            |     | 13 |
| Unaudited Monthly Financial Statements            |     | 13 |
| Volcker Rule                                      |     | 22 |
| Voting Shareholders                               |     |  1 |
| WBCL                                              |     |  2 |
| Wisconsin DFI                                     |     |  2 |
| Written Consent                                   |     |  2 |

-vii-

AGREEMENT AND PLAN OF MERGER

AGREEMENT AND PLAN OF MERGER, dated as of November 30, 2025 (this “”), by and between Associated
Banc-Corp, a Wisconsin corporation (“”), and American National Corporation, a Nebraska corporation (the “”).

W I T N E S S E T H:

WHEREAS,
the boards of directors of Parent and the Company have determined that it is advisable and in the best interests of their respective companies and their shareholders to enter into this Agreement, pursuant to which the Company will, subject to the
terms and conditions set forth herein, merge with and into Parent (the “”), so that Parent is the surviving corporation (hereinafter sometimes referred to in such capacity as the “”);

WHEREAS, the parties intend that the Merger qualify as a “reorganization” within the meaning of
Section 368(a) of the Internal Revenue Code of 1986, as amended (the “”) and that this Agreement be and is adopted as a plan of reorganization for purposes of Sections 354 and 361 of the Code;

WHEREAS, concurrently with the execution and delivery of this Agreement and as a condition to Parent’s willingness to enter into this
Agreement, John F. Kotouc, the Co-Chair