Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 53

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 53
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 law or as consented to in writing by Associated (such consent not to be unreasonably withheld, conditioned or delayed), American National will not, and will not permit any of its subsidiaries to:

| • |     | in each case, other than (i) federal funds borrowings and Federal Home Loan Bank borrowings, in each case                                                                                                                                                
 with a maturity not in excess of six months, (ii) the creation of deposit liabilities, (iii) issuances of letters of credit, (iv) purchases of federal funds, (v) sales of certificates of deposit, and (vi) entry into                                  
 repurchase agreements, in each case in the ordinary course of business with terms and conditions consistent with past practice, incur any indebtedness for borrowed money, obligations evidenced by notes, debentures or similar instruments, sale and   
 leaseback transactions, capital or finance leases or other similar financing arrangements (other than indebtedness solely between or among American National and any of its wholly owned subsidiaries), or assume, guarantee, endorse or otherwise as an 
 accommodation become responsible for the obligations of any other person (other than any wholly owned subsidiary of American National);                                                                                                                  |

| • |     | adjust, split, combine or reclassify any capital stock; |

| • |     | except as set forth in the American National Disclosure Schedule, make, declare, pay or set a record date for any                                                                                                                                         
 dividend, or any other distribution on, or directly or indirectly redeem, purchase or otherwise acquire, any shares of its capital stock or other equity or voting securities or any securities or obligations convertible (whether currently convertible 
 or convertible only after the passage of time or the occurrence of certain events) into or exchangeable for any shares of its capital stock or other equity or voting securities (except dividends paid by any of the subsidiaries of American National   
 to American National or any of its wholly owned subsidiaries);                                                                                                                                                                                            |

| • |     | grant any stock options, stock appreciation rights, performance shares, restricted stock units, stock bonus                                                                                                                                              
 awards, restricted shares or other equity-based awards or interests, including American National stock bonus awards, or grant any individual, corporation or other entity any right to acquire any shares of its capital stock or other equity or voting 
 securities;                                                                                                                                                                                                                                              |

| • |     | issue, sell or otherwise permit to become outstanding any additional shares of capital stock or other equity or                                                                                                                                       
 voting securities or securities convertible or exchangeable into, or exercisable for or valued by reference to, any shares of its