Associated Banc-corp · NYSE:ASB
Associated Banc-corp — Investor Presentation (December 2023)
24 slides from Associated Banc-corp's investor presentation, Dec 1, 2023
Slide 1: Associated Banc-Corp Fall 2023 Shareholder Engagement
Associated Banc - Corp Fall 2023 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 2022 and successful 2023 Say on Pay vote ▪ Discuss progress on our strategic initiatives ▪ Highlight our current approach to executive compensation and obtain feedback ▪ Highlight some of our ESG Initiatives ▪ Discuss Key Executive change
Slide 4: Management Update: Key Leadership Changes
3 Management Update Key Leadership Changes Terry Williams started as Chief Information Officer on January 17, 2023 Jayne Hladio started as President of Private Wealth on October 2, 2023 Phillip Trier started as Commercial Banking Group Leader on December 1, 2023 Neil Riegelman started as Commercial
Slide 5: Strategic Plan Phase 1: Track Record of Execution
4 Strategic Plan Phase 1: Track Record of Execution Launched in 2021, our strategic plan was designed to attract & deepen relationships, enhance profitability Enhanced our Lending Capabilities Expanded our Deposit Capabilities Invested in Digital Transformation ▪ Diversify our consumer portfolio by
Slide 6: 2024-2025 Strategic Themes
5 2024 - 2025 Strategic Themes The second phase of our strategic plan pairs organic initiatives with a targeted balance sheet repositioning Identified $25 million to $30 million in expense reductions for 2024 ▪ 3% reduction in workforce completed on November 8, 2023 ▪ Discretionary spending reduced
Slide 7: Second phase targeted investments: People, Products, Technology
6 The second phase of our strategic plan features targeted investments that build on our momentum organically People Products Technology Key Investments ▪ Multiple key leadership roles in commercial banking, private wealth and business banking already filled in 4Q 2023 ▪ Plan to add 20+ commercial R
Slide 8: Organic plan builds on our momentum
7 Our organic plan builds on our momentum while adhering to the foundational strengths that got us here Expected Benefits of Organic Plan Transitions our Balance Sheet into Higher Return Businesses Creates an Earnings Tailwind by Consistently Growing our Customer Base Maintains our Strong Foundation
Slide 9: Expected Benefits of Balance Sheet Repositioning
8 Expected Benefits of Balance Sheet Repositioning Improves capacity for organic loan growth, unlocking benefits of strategic plan Reduces reliance on wholesale funding, improving overall liquidity position Enhanced capital generation driven by improved earnings profile Efficient use of capital to r
Slide 10: Open discussion on areas of investor interest
Open discussion on areas of investor interest
Slide 11: Executive Compensation Overview
10 Executive Compensation Overview • Our executive compensation program is significantly focused on performance, with equity - based incentives representing most of the variable components to align with company outcomes and shareholder objectives. • Equity awards are heavily weighted in the form of
Slide 12: 2023 Executive Pay Programs
11 2023 Executive Pay Programs Designed to enable execution of our strategic priorities, perform better than our competitors and drive long - term shareholder value Peer Group 2023 Management Incentive Plan (Annual) 2023 Long - Term Incentive Plan (Executive Leadership Team) ▪ Maintained same peer g
Slide 13: Shareholder Friendly Pay Practices
12 Shareholder Friendly Pay Practices x Solid incentive plan governance x Double trigger change in control is applied for equity vesting x Robust clawback policy x Stock ownership requirements include a salary multiple and a post - vesting holding period x Dividend equivalents on unvested stock are
Slide 14: Human Capital Overview
13 Human Capital Overview Our Approach Attract • Increased recruitment marketing • Expanded diversity outreach • Focus on colleague experience, education and partnership Engage • In - person and video town halls and support of inaugural Day of Service • Improved engagement scores • DEI evolution: in
Slide 15: Development Programs
14 Development Programs Associated provides a multitude of development programs to provide colleagues with opportunities to develop skills and advance their careers Specialized Development Programs Mentoring Programs Leadership Development Programs
Slide 16: Diversity Equity and Inclusion pillars
15 ▪ Colleague Resource Groups (CRG) ▪ Training, education, and awareness for all colleagues to advance DE&I ▪ Cultural and systemic opportunities to enhance workplace experiences Diversity Equity and Inclusion (DE&I) ▪ Targeted outreach and partnerships to enhance diversity of candidate pipelines ▪
Slide 17: Diversity Equity and Inclusion (DE&I)
16 Diversity Equity and Inclusion (DE&I) Colleague Resource Groups (CRG) Colleague Expectations • Understand the importance of equity, inclusion and belonging. • Be familiar with our DE&I goals and progress. • Act with simple, everyday efforts that help others to be successful. • Be an ally — someon
Slide 18: ESG at Associated Bank
17 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 identified and prioritized initiatives that will help us manage
Slide 19: 2022 Sustainability Report
18 2022 Sustainability Report
Slide 20: 2022 Sustainability Report continued
19 2022 Sustainability Report continued
Slide 21: Board Governance and Oversight
20 Board Governance and Oversight Strong Corporate Governance x 10% special meeting right x Separate Chair and CEO roles x Annually elected directors with director resignation policy x No supermajority vote requirement to remove directors x Majority vote to amend organizational documents x Anti - gr
Slide 22: Highly Qualified and Experienced Board
21 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 risks of Associated. x
Slide 23: Appendix
APPENDIX
Slide 24: ESG at Associated Bank: Colleague Demographics
23 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
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