Slide 1: Associated Banc-Corp Fall 2022 Shareholder Engagement
Associated Banc - Corp Fall 2022 Shareholder Engagement
Slide 2: Forward-Looking Statements
1 Forward - Looking Statements Important note regarding forward - looking statements: Statements made in this presentation which are not purely historical are forward - looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding mana
Slide 3: Introduction
2 Introduction ▪ Follow - up on our outreach from the fall of 2021 and successful 2022 Say on Pay vote ▪ Discuss progress on our strategic initiatives ▪ Introduce our new CFO, Derek Meyer ▪ Highlight some of our ESG Initiatives ▪ Derek Meyer started as CFO on August 1, 2022, succeeding Chris Niles ▪
Slide 4: Key Leadership Changes
3 Key Leadership Changes Management Update ▪ Andy Harmening started as President and CEO on April 28, 2021, succeeding Phil Flynn who retired as a special adviser to the CEO on December 31, 2021 ▪ Derek Meyer started as CFO on August 1, 2022, succeeding Chris Niles who retired as CFO on the same dat
Slide 5: Broad-Based Lending Growth
4 EoP Loan Change (6/30/2022 to 9/30/2022) Total average loans grew by 7% vs. the prior quarter, while total period end loans grew by 5% Broad - Based Lending Growth $(63) $(8) $5 $6 $7 $16 $60 $118 $119 $209 $269 $274 $312 Mortgage Warehouse Home Equity and Other Cons. CRE Investor Power & Utilitie
Slide 6: Strategic lending initiatives remain on track
5 Core Commercial 1 New Asset - Based Lending + Equipment Finance 2 Auto Finance $15,550 $17,201 $17,000 $18,000 12/31/21 9/30/22 12/31/22 Target 12/31/23 Target $143 $1,117 $1,400 $2,450 12/31/21 9/30/22 12/31/22 Target 12/31/23 Target $67 $270 $300 $650 12/31/21 9/30/22 12/31/22 Target 12/31/23 Ta
Slide 7: Investing in Digital Transformation
6 We are leveraging agile frameworks and customer feedback to more quickly deliver custom digital solutions Investing in Digital Transformation Launch of Associated Bank Digital AI - led Financial Wellness and Personal Insights Debit Card Controls Digital Account Opening Upgrades (Consumer) ▪ Cloud
Slide 8: Open Discussion on Areas of Investor Interest
OPEN DISCUSSION ON AREAS OF INVESTOR INTEREST
Slide 9: Executive Compensation Overview
8 Executive Compensation Overview • Received 95% support on Say on Pay in both the 2021 and 2022 Annual Meetings x Significantly restructured compensation starting in 2021: – Established revised peer group to reflect more appropriate benchmarks for ASB to enhance assessments of pay competitiveness a
Slide 10: 2022 Executive Pay Programs
9 2022 Executive Pay Programs Reinforce achievement of our business strategy and create shareholder value Peer Group 2022 Management Incentive Plan (Annual) 2022 Long - erm Incentive Plan (Executive Leadership Team) ▪ Refined to reflect merger and acquisition activity ▪ Maintained the same scorecard
Slide 11: 2023 Executive Pay Program
10 2023 Executive Pay Program Designed to reinforce achievement of our business strategy Peer Group ▪ Further refinement of peer group through removal of organizations impacted by M&A ▪ Removal of those larger in size relative to ASB and addition of organizations smaller with a similar business mode
Slide 12: Shareholder Friendly Pay Practices
11 Shareholder Friendly Pay Practices x Double trigger change in control equity vesting x Robust clawback policy x Stock ownership requirements, including salary multiple and post - vesting holding period for all Executive Leadership Team members x Dividend equivalents on unvested stock are not paid
Slide 13: ESG at Associated Bank
12 ESG at Associated Bank We understand that providing valuable insights around Associated’s actions and strategies in our Environment, Social and Governance space help our stakeholders make better informed investment decisions. We have: 1. Enhanced the responsibilities of our Corporate Governance &
Slide 14: ESG at Associated Bank: Highly Qualified and Experienced Board
13 ESG at Associated Bank Highly Qualified and Experienced Board x Our Board members are highly skilled individuals from diverse backgrounds who possess unique qualities, attributes and professional experience x The Board of Directors are responsible for overseeing the corporate ESG strategies and r
Slide 15: ESG at Associated Bank
14 ESG at Associated Bank (1) People of color defined as American Indian or Alaska Native, Asian, Black or African American, Hispanic or Latin, Native Haw aiian or other Pacific Islander, or Two or more races x We referenced established ESG reporting frameworks, including the Sustainability Accounti
Slide 16: ESG at Associated Bank: Community Commitment and Reinvestment
15 ESG at Associated Bank Community Commitment and Reinvestment We use our expertise and financial support to promote affordable housing, provide small - business lending and advance neighborhood development Minority and Small - Business Assistance Programs – 2021 Results x Homebuyer assistance prog
Slide 17: ESG at Associated Bank: Colleague Demographics
16 ESG at Associated Bank Our colleagues, customers and communities represent people of diverse backgrounds. To better serve our customers and communities, we aspire to have our colleague population mirror the larger communities in which we do business. We continue to expand our programming to allow