Associated Banc-corp · NYSE:ASB
Associated Banc-corp — Merger or Acquisition (May 2020)
7 slides from Associated Banc-corp's merger presentation, May 4, 2020
Slide 1: Sale of Associated Benefits & Risk Consulting
SALE OF ASSOCIATED BENEFITS & RISK CONSULTING MAY 4, 2020 ASB NYSE N Associated Bank
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Importantnote regarding forvard looking statements: Statements made in this presentation which are not purely historicalare forwardJooking statements, as definedin the Private Securties Ligation Reform Actof 1995. This, includes any statements regarding management's plans,
Slide 3: On May 4, 2020 ASB Announced the Sale of ABRC
ON MAY 4, 2020 ASB ANNOUNCED THE SALE OF ASSOCIATED BENEFITS AND RISK CONSULTING (“ABRC”) Overview of ABRC Strategic Rationale Top 40 insurance broker in the United States, providing employee benefits, retirement plans, compliance, business insurance, risk management and individual insurance solutio
Slide 4: Benefits for Our Stakeholders
BENEFITS FOR OUR STAKEHOLDERS ABRC Customer Benefits Colleague Benefits Shareholder Benefits Enhanced Resources: greater breadth of insurance expertise in many specialized areas Continuity: current team of talented ABRC colleagues continuing to work on behalf of clients ABRC Colleagues: all will rec
Slide 5: Economics of the Sale Are Very Attractive to ASB
ECONOMICS OF THE SALE ARE VERY ATTRACTIVE TO ASB, REFLECTING ABRC’S PREMIUM FRANCHISE VALUE Transaction Terms Financially Attractive $266 million — 3x multiple of LTM revenue? — 18x multiple of LTM net income? Purchase Price Consideration 100% cash Required Approvals Antitrust clearance under HSR Ac
Slide 6: Reconciliation and Definitions of Non-GAAP Items
RECONCILIATION AND DEFINITIONS OF NON-GAAP ITEMS ‘Tangible Common Equity Reconciliation’ ($ in millions) 202001 ‘Common equity 93,534 Goodwill and otherintangible assets, net (4,284) Tangible common equity $2,250 Estimated after-tax gain on sale of ABRC 1 Pro forma ABRC goodwill and intangiblesrelea
Slide 7: Reconciliation and Definitions of Non-GAAP Items
RECONCILIATION AND DEFINITIONS OF NON-GAAP ITEMS Tangible Book Value Per Share Reconciliation (Sin millions, exceptper share) Tangible common equity ‘Shares outstanding, end of period (00's) Tangible bookvalue per share $14.64 Pro forma adjustedtangible common equity $2,460 ‘Shares outstanding, end
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