Associated Banc-corp · NYSE:ASB
Associated Banc-corp — Investor Presentation (October 2020)
14 slides from Associated Banc-corp's investor presentation, Oct 2, 2020
Slide 1: Associated Banc-Corp Fall 2020 Shareholder Engagement
ASSOCIATED BANC-CORP FALL 2020 SHAREHOLDER ENGAGEMENT N Associated Bank
Slide 2: About Us
ABOUT US Associated Bank will be the Midwest's premier financial services company. Our performance will be distinguished by consistent, quality customer experiences, built upon a strong commitment to our colleagues and the communities we serve. We strive to create value for our shareholders through
Slide 3: Business Priorities to Drive Long-Term Shareholder Value
BUSINESS PRIORITIES TO DRIVE LONG- TERM SHAREHOLDER VALUE Through economic cycles, we strive to create value for our shareholders by: Capitalizing on and further consolidating our deposit market presence in our core geographies and expanding selectively into new markets to grow our customer base. +
Slide 4: 2021 Compensation Program: Overview
2021 COMPENSATION PROGRAM: OVERVIEW WE LISTENED AND REPAIRED OUR PAY PRACTICES + We approached the disappointing 2020 say-on-pay vote result as an opportunity for change and to realign our compensation practices in order to effectively drive performance and create alignment with shareholders. + Foll
Slide 5: 2021 Compensation Program: An Opportunity for Change
2021 COMPENSATION PROGRAM AN OPPORTUNITY FOR CHANGE Board actions taken: Terminated our prior compensation consultant and retained Mercer, a leading compensation consultant to financial institutions, to evaluate our executive compensation program and assist the Board to better align pay with perform
Slide 6: Our Revised Compensation Program: 2021 Peer Group
OUR REVISED COMPENSATION PROGRAM DESIGNED TO REINFORCE ACHIEVEMENT OF OUR BUSINESS STRATEGY 2021 PEER GROUP + Refined the peer group to reflect more appropriate benchmarks for the Company + ASB’s size (total assets) is better aligned with the median of the revised peer group The new peer group will
Slide 7: Our Revised Compensation Program: 2021 Annual Incentives
OUR REVISED COMPENSATION PROGRAM DESIGNED TO REINFORCE ACHIEVEMENT OF OUR BUSINESS STRATEGY 2021 ANNUAL INCENTIVES (MIP) (Executive Committee) + Established consistent short-term incentive target opportunity for CEO — New approach aligns with market best practices — Previous approach set current yea
Slide 8: Our Revised Compensation Program: 2021 Long-Term Incentives
OUR REVISED COMPENSATION PROGRAM DESIGNED TO REINFORCE ACHIEVEMENT OF OUR BUSINESS STRATEGY 2021 LONG-TERM INCENTIVES (Executive Committee) + Recalibrated CEO target long-term incentive opportunity to align total target opportunity and pay mix with market + Changed mix to 75% performance shares and
Slide 9: Other Shareholder-Friendly Pay Practices
OTHER SHAREHOLDER-FRIENDLY PAY PRACTICES v Double trigger change in control equity vesting v Robust clawback policy v No hedging or pledging of company shares v No excise tax gross-ups for NEOs (except in connection with relocation expenses) v No repricing of stock options and SARs without sharehold
Slide 10: Corporate Governance Profile
CORPORATE GOVERNANCE PROFILE y¥ 10% special meeting right v Separate Chair and CEO roles v Annually elected directors with director resignation policy v No supermajority vote requirement to remove directors y Majority vote to amend organizational documents v Anti-greenmail, fair price and expanded c
Slide 11: Highly Qualified & Experienced Board
HIGHLY QUALIFIED & EXPERIENCED BOARD + Planned retirement of 3 directors in April 2021 — Following these retirements, over 36% of the directors will be diverse and over 27% will be female Audit/Accounting Business Customer Focus | Environmental Finance! Banking & Operations and | Marketing and Comor
Slide 12: Thorough Board Processes and Risk Management
THOROUGH BOARD PROCESSES AND RISK MANAGEMENT — Enterprise Risk Committee + Reviews strategies, policies and practices established by management to identify, measure and manage significant risks including: - lending and credit risk - asset quality and underwriting standards - regulatory exam results
Slide 13: Supporting Our Community: Human Capital Management and Culture
SUPPORTING OUR COMMUNITY HUMAN CAPITAL MANAGEMENT AND CULTURE ms =, ve } | a + Diversity and inclusion are key components of our culture - 32% of senior leadership roles filled by women - 6Colleague Resource Groups (“CRGs’) with participation from over 44% of our colleagues » In 2019, our Cultural A
Slide 14: Supporting Our Community: Promoting Homeownership
SUPPORTING OUR COMMUNITY PROMOTING HOMEOWNERSHIP AND REVITALIZING OUR NEIGHBORHOODS Minority and Small-Business Assistance Programs —Homebuyer assistance programs to qualifying borrowers through direct closing cost and down-payment subsidies + 4,486 residential mortgages (approximately $832 million
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