Exhibit 99.1

		NEWS RELEASE Investor Contact: Janet L. Ford, Investor Relations Director 414-278-1890 Media Contact: Autumn Latimore, Public Relations Director 414-278-1860

Associated Banc-Corp Reports Fourth Quarter 2010 Earnings

GREEN BAY, Wis. —— January 20, 2011 —— Associated Banc-Corp (NASDAQ: ASBC) today reported net income to common shareholders of $6.6 million, or $0.04 per common share, for the quarter ended December 31, 2010. This compares to net income to common shareholders of $6.9 million, or $0.04 per common share, for the quarter ended September 30, 2010, and a net loss to common shareholders of $180.6 million, or $1.41 per common share, for the quarter ended December 31, 2009.

For the year ended December 31, 2010, the Company reported a net loss to common shareholders of $30.4 million, or $0.18 per common share. This compares to a net loss to common shareholders of $161.2 million, or $1.26 per common share, for the year ended December 31, 2009.

HIGHLIGHTS

	•		Second consecutive quarter of profitability with net income to common shareholders of $6.6 million, or $0.04 per share
	•		Ongoing improvements in credit quality metrics:

	•		Loans 30-89 days past due were down for the fourth consecutive quarter
	•		Potential problem loans were down for the fourth consecutive quarter
	•		Nonaccrual loans were down 21% from the prior quarter and 47% from a year ago
	•		$163 million in nonaccrual loans were sold or resolved during the quarter

	•		Fourth quarter reduction of higher risk construction loans was offset by growth in lower risk residential mortgage and home equity loans
	•		Net interest margin of 3.13%, up 5 basis points from the prior quarter
	•		Capital ratios remain very strong, with a Tier 1 common ratio of 12.26% at December 31, 2010, compared to 7.85% a year ago

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ASSOCIATED BANC-CORP REPORTS FOURTH QUARTER 2010 RESULTS		PAGE 2

“Fourth quarter results reflect several positive signs and trends,” said Philip B. Flynn, President and Chief Executive Officer. “Credit quality continued to improve. We saw growth in the Company’s loan portfolio this quarter, and we saw modest growth in C&I and home equity loans for the second consecutive quarter.”

“While we accomplished many of our objectives during the past year, our full attention is now on the more challenging job of ensuring profitable growth. We spent a great deal of time looking at our core businesses and developing plans to ensure the profitable growth of the Company. We have recalibrated the Company’s business portfolio to more properly align our business activities around our core businesses and created a more balanced approach to growing deposits and loans. We believe the enhancements we have made to our business portfolio, along with our strategic initiatives, position us well for future growth.”

FOURTH QUARTER 2010 FINANCIAL RESULTS

Credit Quality

Key credit metrics continued to improve during the quarter. Loans 30-89 days past due totaled $120 million at December 31, 2010, down 4% from $124 million at September 30, 2010, and down 50% from $241 million at December 31, 2009. Potential problem loans continued to decline to $964 million at December 31, 2010, down $168 million, or 15%, from $1.13 billion at September 30, 2010.

Nonaccrual loans declined to $574 million at December 31, 2010, down 21% from $728 million at September 30, 2010, and down 47% from $1.1 billion at December 31, 2009. Through a combination of loan sales and discounted payoffs (resolutions), the Company reduced nonaccrual loans with a net book value totaling $163 million during the quarter, which resulted in $42 million of charge-offs during the quarter. A total of $597 million in nonaccrual loans, primarily consisting of real estate construction and commercial real estate loans, were sold or resolved during 2010, exceeding the Company’s previously stated goal of $500 million.

The provision for loan losses and net charge-offs for the fourth quarter of 2010 were consistent with the prior quarter and substantially lower than prior year levels, as fourth quarter 2010, third quarter 2010, and fourth quarter 2009 provisions for loan losses were $63 million, $64 million and $395 million, respectively, and net charge-offs were $108 million, $110 million and $234 million, respectively. Bulk sales and discounted resolutions of nonaccrual loans contributed to elevated levels of charge-offs during the past three quarters.

The Company’s allowance for loan losses was $477 million, or 3.78% of total loans, at December 31, 2010. This compares to an allowance for loan losses of $522 million, or 4.22% of total loans, at September 30, 2010, and $574 million, or 4.06% of total loans, at December 31, 2009. The coverage of nonaccrual loans increased to 83.02% at the end of the fourth quarter, compared to 71.72% at the end of the third quarter.

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ASSOCIATED BANC-CORP REPORTS FOURTH QUARTER 2010 RESULTS		PAGE 3

Loans and Deposits

At December 31, 2010, the Company’s loan portfolio was $12.6 billion, up 2% from $12.4 billion at September 30, 2010, and down 11% from $14.1 billion at December 31, 2009. The $447 million, or 24%, increase in the residential mortgage segment of the portfolio for the quarter was partially offset by declines in the construction and commercial real estate sections of the portfolio primarily related to loan sales during the quarter. The C&I and home equity segments of the portfolio continued to grow modestly, up 2% and 3%, respectively, from the prior quarter.

On a year-over-year basis, the greatest decline was in the construction segment of the Company’s loan portfolio, which at $553 million was down 60% from December 31, 2009. The construction segment represented just 4% of the Company’s total loan portfolio at December 31, 2010. This is in line with the Company’s strategy of rebalancing the loan portfolio over time.

Total deposits were $15.2 billion at December 31, 2010, compared to $16.8 billion at September 30, 2010 and $16.7 billion at December 31, 2009. During the quarter, the Company rebalanced its liabilities in light of its excess liquidity position and to increase margin. $1.1 billion of interest-bearing deposits largely related to the FDIC’s TAG program and $826 million of network transaction deposits were managed down as the Company reduced its liquidity profile. These deposit outflows were partially offset by a seasonal year end increase in demand deposits, a year end influx of public funds monies, and increased customer repurchase agreement activities. The net balance reductions were replaced with lower cost short-term funding. Year-over-year, demand deposits were up 13% and savings balances grew 5%, while interest-bearing demand and money market deposits declined 40% and 6%, respectively, from December 31, 2009.

Net Interest Income

The Company’s net interest margin was 3.13% for the quarter ended December 31, 2010, compared to 3.08% for the third quarter of 2010, and 3.59% for the same quarter a year ago. Net interest income was $151 million for the quarter ended December 31, 2010. This compares to $154 million for the quarter ended September 30, 2010 and $178 million for the quarter ended December 31, 2009. Interest income from earning assets of $189 million was down 4% from the prior quarter, primarily related to a net reduction in earning assets as a result of the reduction in the Company liquidity position. The reduction in interest income was partially offset by a net increase in our investment holdings. Interest expense of $38 million for the fourth quarter was down $4 million, or 10%, from $42 million for the quarter ended September 30, 2010, due to the effects of the liability rebalancing undertaken during the quarter and the effects of lower average rates paid on deposits.

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ASSOCIATED BANC-CORP REPORTS FOURTH QUARTER 2010 RESULTS		PAGE 4

Noninterest Income and Expense

Noninterest income for the quarter ended December 31, 2010 was $85 million, compared to $82 million for the third quarter of 2010 and $85 million for the same quarter last year. The increase in noninterest income was primarily due to a $4 million increase in net mortgage banking income for the quarter and a $4 million increase in capital markets income, which were partially offset by a $3 million decline in service charges on deposit accounts and net losses on asset and investment sales.

Core fee-based revenue was $57 million for the quarter ended December 31, 2010, compared to $61 million for the quarter ended September 30, 2010 and $67 million for the fourth quarter of 2009. Lower core fee-based revenue was primarily the result of a continued decline in service charges on consumer deposits, which was down $3 million from $24 million in the third quarter of 2010, and down $9 million from $29 million for the quarter ended December 31, 2009.

Mortgage loans originated for sale were $630 million for the quarter ended December 31, 2010 compared to $728 million for the prior quarter. Net mortgage banking income for the quarter totaled $13 million, up $4 million, or 47%, from $9 million for both the third quarter of 2010 and the fourth quarter of 2009. Fourth quarter mortgage banking results included a $3 million valuation recovery related to mortgage servicing rights compared to a $9 million valuation charge for the third quarter of 2010, and a $1 million valuation recovery for the quarter ended December 31, 2009.

Capital markets fee income for the quarter increased $4 million from the prior quarter due to credit valuation adjustments (CVAs) related to changes in the fair value of credit (nonperformance) risk of the Company’s offsetting interest rate swap positions that it maintains for its customers with various financial counterparties. Due to the general characteristics of the consumer swaps, an increase in market rates will generally result in a reduction in credit exposure and a CVA recovery. During the fourth quarter of 2010, the market level of rates increased resulting in a $2 million CVA recovery compared to a $2 million CVA charge in the third quarter of 2010.

Total noninterest expense for the quarter ended December 31, 2010 was $167 million, up 7% from $157 million for the quarter ended September 30, 2010, and up 5% from $159 million for the quarter ended December 31, 2009. The increase in total noninterest expense over the prior quarter was primarily due to higher personnel expense related to investments in human capital, costs related to valuation write-downs of several OREO properties, and accruals for resolving certain ongoing legal matters. These increases were partially offset by decreases in other expense categories, most notably legal and professional fees.

For the fourth quarter of 2010, the Company reported a tax benefit of $8 million, which included a $5 million benefit related to the resolution of certain tax matters which occurred during the quarter.

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ASSOCIATED BANC-CORP REPORTS FOURTH QUARTER 2010 RESULTS		PAGE 5

“Given an improving economic environment, we expect to see loan growth and margin expansion in 2011,” Flynn stated. “We also believe that provisions for loan losses will continue to decline. In addition, as we have stated in the past, we expect to repay the U.S. Treasury TARP funds this year. We are pleased with the progress we have made and believe that our ongoing investments in additional talent and our core businesses during 2011 will position our Company for more rapid growth in 2012 and beyond.”

FOURTH QUARTER 2010 EARNINGS RELEASE CONFERENCE CALL

The Company will host a conference call for investors and analysts at 4:00 p.m. Central Time (CT) today, January 20, 2011. Interested parties can listen to the call live on the internet through the investor relations section of the company’s website, www.associatedbank.com/investor, or by dialing 877-348-9354. The slide presentation for the call will be available on the company’s website just prior to the call. The number for international callers is 253-237-1160. Participants should ask the operator for the Associated Banc-Corp fourth quarter 2010 earnings call, or conference ID number 32741660.

An audio archive of the webcast will be available on the company’s website for one month following the call. A replay of the call will be available starting at 7:00 p.m. CT on January 20, 2011 through 11:00 p.m. CT on February 19, 2011 by dialing 800-642-1687 and entering the conference ID number 32741660. The replay number for international callers is 706-645-9291.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NASDAQ: ASBC) has total assets of $22 billion and is one of the top 50 financial services holding companies operating in the United States. Headquartered in Green Bay, Wis., Associated has 281 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota. The company offers a full range of banking services and other financial products and services. More information about Associated Banc-Corp is available at www.associatedbank.com.

FORWARD LOOKING STATEMENTS

Statements made in this document that are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management’s plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. These statements may be identified by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “estimate,” “should,” “will,” “intend,” or similar expressions. Outcomes related to such statements are subject to numerous risk factors and uncertainties including those listed in the Company’s most recent Annual Report filed on Form 10-K as updated by the Company’s most recent Form 10-Q.

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Consolidated Balance Sheets (Unaudited)
Associated Banc-Corp

		December 31,				September 30,				Seql Qtr				June 30,				March 31,				December 31,				Comp Qtr
(in thousands)		2010				2010				$ Change				2010				2010				2009				$ Change
Assets
Cash and due from banks		$	319,487			$	316,914			$	2,573			$	324,952			$	284,882			$	770,816			$	(451,329	)
Interest-bearing deposits in other financial institutions			546,125				1,717,853				(1,171,728	)			2,210,946				1,998,528				26,091				520,034
Federal funds sold and securities purchased under agreements to resell			2,550				503,950				(501,400	)			13,515				19,220				23,785				(21,235	)
Securities available for sale, at fair value			6,101,341				5,291,336				810,005				5,322,177				5,267,372				5,835,533				265,808
Federal Home Loan Bank and Federal Reserve Bank stocks, at cost			190,968				190,918				50				190,870				184,811				181,316				9,652
Loans held for sale			144,808				274,666				(129,858	)			321,060				274,003				81,238				63,570
Loans			12,616,735				12,372,393				244,342				12,601,916				13,299,321				14,128,625				(1,511,890	)
Allowance for loan losses			(476,813	)			(522,018	)			45,205				(567,912	)			(575,573	)			(573,533	)			96,720
Loans, net			12,139,922				11,850,375				289,547				12,034,004				12,723,748				13,555,092				(1,415,170	)
Premises and equipment, net			190,533				181,236				9,297				181,231				183,401				186,564				3,969
Goodwill			929,168				929,168				—				929,168				929,168				929,168				—
Other intangible assets, net			88,044				84,824				3,220				92,176				91,991				92,807				(4,763	)
Other assets			1,132,650				1,184,046				(51,396	)			1,139,960				1,150,512				1,191,732				(59,082	)
Total assets		$	21,785,596			$	22,525,286			$	(739,690	)		$	22,760,059			$	23,107,636			$	22,874,142			$	(1,088,546	)
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits		$	3,684,965			$	3,054,121			$	630,844			$	2,932,599			$	3,023,247			$	3,274,973				409,992
Interest-bearing deposits, excl Brokered CDs			11,097,788				13,308,530				(2,210,742	)			13,465,974				13,731,421				13,311,672				(2,213,884	)
Brokered CDs			442,640				442,209				431				571,626				742,119				141,968				300,672
Total deposits			15,225,393				16,804,860				(1,579,467	)			16,970,199				17,496,787				16,728,613				(1,503,220	)
Short-term borrowings			1,747,382				539,263				1,208,119				513,406				575,564				1,226,853				520,529
Long-term funding			1,413,605				1,713,671				(300,066	)			1,843,691				1,643,979				1,953,998				(540,393	)
Accrued expenses and other liabilities			240,425				266,643				(26,218	)			246,636				210,797				226,070				14,355
Total liabilities			18,626,805				19,324,437				(697,632	)			19,573,932				19,927,127				20,135,534				(1,508,729	)
Stockholders’ Equity
Preferred equity			514,388				513,550				838				512,724				511,910				511,107				3,281
Common stock			1,739				1,738				1				1,737				1,737				1,284				455
Surplus			1,573,372				1,569,963				3,409				1,567,315				1,564,536				1,082,335				491,037
Retained earnings			1,041,666				1,036,800				4,866				1,032,065				1,044,501				1,081,156				(39,490	)
Accumulated other comprehensive income			27,626				78,798				(51,172	)			73,173				59,744				63,432				(35,806	)
Treasury stock			—				—				—				(887	)			(1,919	)			(706	)			706
Total stockholders’ equity			3,158,791				3,200,849				(42,058	)			3,186,127				3,180,509				2,738,608				420,183
Total liabilities and stockholders’ equity		$	21,785,596			$	22,525,286			$	(739,690	)		$	22,760,059			$	23,107,636			$	22,874,142			$	(1,088,546	)

Consolidated Statements of Income (Unaudited)
Associated Banc-Corp

		For The Three Months Ended																For The Year Ended,
		December 31,								Quarter								December 31,								Year-to-Date
(in thousands, except per share amounts)		2010				2009				$ Change				% Change				2010				2009				$ Change				% Change
Interest Income
Interest and fees on loans		$	146,444			$	172,624			$	(26,180	)			(15.2	%)		$	608,487			$	752,265			$	(143,778	)			(19.1	%)
Interest and dividends on investment securities:
Taxable			33,468				48,521				(15,053	)			(31.0	%)			159,085				192,766				(33,681	)			(17.5	%)
Tax-exempt			8,150				8,987				(837	)			(9.3	%)			33,915				35,799				(1,884	)			(5.3	%)
Other interest			1,030				78				952				N/M				4,639				426				4,213				N/M
Total interest income			189,092				230,210				(41,118	)			(17.9	%)			806,126				981,256				(175,130	)			(17.8	%)
Interest Expense
Interest on deposits			23,039				31,471				(8,432	)			(26.8	%)			106,023				160,874				(54,851	)			(34.1	%)
Interest on short-term borrowings			2,288				3,062				(774	)			(25.3	%)			7,983				16,199				(8,216	)			(50.7	%)
Interest on long-term funding			12,905				17,324				(4,419	)			(25.5	%)			58,341				78,178				(19,837	)			(25.4	%)
Total interest expense			38,232				51,857				(13,625	)			(26.3	%)			172,347				255,251				(82,904	)			(32.5	%)
Net Interest Income			150,860				178,353				(27,493	)			(15.4	%)			633,779				726,005				(92,226	)			(12.7	%)
Provision for loan losses			63,000				394,789				(331,789	)			(84.0	%)			390,010				750,645				(360,635	)			(48.0	%)
Net interest income (loss) after provision for loan losses			87,860				(216,436	)			304,296				(140.6	%)			243,769				(24,640	)			268,409				N/M
Noninterest Income
Trust service fees			9,518				9,906				(388	)			(3.9	%)			37,853				36,009				1,844				5.1	%
Service charges on deposit accounts			20,390				29,213				(8,823	)			(30.2	%)			96,740				116,918				(20,178	)			(17.3	%)
Card-based and other nondeposit fees			12,995				12,359				636				5.1	%			47,850				45,977				1,873				4.1	%
Retail commissions			14,441				15,296				(855	)			(5.6	%)			61,256				60,678				578				1.0	%
Total core fee-based revenue			57,344				66,774				(9,430	)			(14.1	%)			243,699				259,582				(15,883	)			(6.1	%)
Mortgage banking, net			13,229				9,227				4,002				43.4	%			33,136				40,882				(7,746	)			(18.9	%)
Capital market fees, net			5,187				291				4,896				N/M				6,072				5,536				536				9.7	%
Bank owned life insurance income			4,509				3,310				1,199				36.2	%			15,761				16,032				(271	)			(1.7	%)
Asset sale gains (losses), net			514				(1,551	)			2,065				(133.1	%)			(2,004	)			(4,071	)			2,067				(50.8	%)
Investment securities gains (losses), net			(1,883	)			(395	)			(1,488	)			376.7	%			24,917				8,774				16,143				184.0	%
Other			5,797				7,078				(1,281	)			(18.1	%)			23,942				24,226				(284	)			(1.2	%)
Total noninterest income			84,697				84,734				(37	)			(0.0	%)			345,523				350,961				(5,438	)			(1.5	%)
Noninterest Expense
Personnel expense			83,912				72,620				11,292				15.5	%			323,249				304,390				18,859				6.2	%
Occupancy			12,899				12,170				729				6.0	%			49,937				49,341				596				1.2	%
Equipment			4,899				4,551				348				7.6	%			18,371				18,385				(14	)			(0.1	%)
Data processing			7,047				7,728				(681	)			(8.8	%)			29,714				30,893				(1,179	)			(3.8	%)
Business development and advertising			4,870				4,443				427				9.6	%			18,385				18,033				352				2.0	%
Other intangible amortization			1,206				1,386				(180	)			(13.0	%)			4,919				5,543				(624	)			(11.3	%)
Legal and professional fees			5,353				6,386				(1,033	)			(16.2	%)			20,439				19,562				877				4.5	%
Foreclosure/OREO expense			9,860				10,852				(992	)			(9.1	%)			33,844				38,129				(4,285	)			(11.2	%)
FDIC expense			11,095				9,618				1,477				15.4	%			46,377				41,934				4,443				10.6	%
Other			25,702				29,260				(3,558	)			(12.2	%)			85,085				85,210				(125	)			(0.1	%)
Total noninterest expense			166,843				159,014				7,829				4.9	%			630,320				611,420				18,900				3.1	%
Income (loss) before income taxes			5,714				(290,716	)			296,430				(102.0	%)			(41,028	)			(285,099	)			244,071				(85.6	%)
Income tax benefit			(8,294	)			(117,479	)			109,185				(92.9	%)			(40,172	)			(153,240	)			113,068				(73.8	%)
Net income (loss)			14,008				(173,237	)			187,245				(108.1	%)		$	(856	)		$	(131,859	)		$	131,003				(99.4	%)
Preferred stock dividends and discount			7,400				7,354				46				0.6	%			29,531				29,348				183				0.6	%
Net income (loss) available to common equity		$	6,608			$	(180,591	)		$	187,199				(103.7	%)		$	(30,387	)		$	(161,207	)		$	130,820				(81.2	%)
Earnings (Loss) Per Common Share:
Basic		$	0.04			$	(1.41	)		$	1.45				(102.8	%)		$	(0.18	)		$	(1.26	)		$	1.08				(85.7	%)
Diluted		$	0.04			$	(1.41	)		$	1.45				(102.8	%)		$	(0.18	)		$	(1.26	)		$	1.08				(85.7	%)
Average Common Shares Outstanding:
Basic			173,068				127,869				45,199				35.3	%			171,230				127,858				43,372				33.9	%
Diluted			173,072				127,869				45,203				35.4	%			171,230				127,858				43,372				33.9	%

N/M = Not meaningful.

Consolidated Statements of Income (Unaudited) — Quarterly Trend
Associated Banc-Corp

										Sequential Qtr																				Comparable Qtr
(in thousands, except per share amounts)		4Q10				3Q10				$ Change				% Change				2Q10				1Q10				4Q09				$ Change				% Change
Interest Income
Interest and fees on loans		$	146,444			$	148,937			$	(2,493	)			(1.7	%)		$	153,815			$	159,291			$	172,624			$	(26,180	)			(15.2	%)
Interest and dividends on investment securities:
Taxable			33,468				37,198				(3,730	)			(10.0	%)			41,317				47,102				48,521				(15,053	)			(31.0	%)
Tax-exempt			8,150				8,499				(349	)			(4.1	%)			8,558				8,708				8,987				(837	)			(9.3	%)
Other interest			1,030				1,582				(552	)			(34.9	%)			1,188				839				78				952				N/M
Total interest income			189,092				196,216				(7,124	)			(3.6	%)			204,878				215,940				230,210				(41,118	)			(17.9	%)
Interest Expense
Interest on deposits			23,039				25,879				(2,840	)			(11.0	%)			28,360				28,745				31,471				(8,432	)			(26.8	%)
Interest on short-term borrowings			2,288				1,849				439				23.7	%			1,820				2,026				3,062				(774	)			(25.3	%)
Interest on long-term funding			12,905				14,584				(1,679	)			(11.5	%)			14,905				15,947				17,324				(4,419	)			(25.5	%)
Total interest expense			38,232				42,312				(4,080	)			(9.6	%)			45,085				46,718				51,857				(13,625	)			(26.3	%)
Net Interest Income			150,860				153,904				(3,044	)			(2.0	%)			159,793				169,222				178,353				(27,493	)			(15.4	%)
Provision for loan losses			63,000				64,000				(1,000	)			(1.6	%)			97,665				165,345				394,789				(331,789	)			(84.0	%)
Net interest income (loss) after provision for loan losses			87,860				89,904				(2,044	)			(2.3	%)			62,128				3,877				(216,436	)			304,296				(140.6	%)
Noninterest Income
Trust service fees			9,518				9,462				56				0.6	%			9,517				9,356				9,906				(388	)			(3.9	%)
Service charges on deposit accounts			20,390				23,845				(3,455	)			(14.5	%)			26,446				26,059				29,213				(8,823	)			(30.2	%)
Card-based and other nondeposit fees			12,995				12,093				902				7.5	%			11,942				10,820				12,359				636				5.1	%
Retail commissions			14,441				15,276				(835	)			(5.5	%)			15,722				15,817				15,296				(855	)			(5.6	%)
Total core fee-based revenue			57,344				60,676				(3,332	)			(5.5	%)			63,627				62,052				66,774				(9,430	)			(14.1	%)
Mortgage banking, net			13,229				9,007				4,222				46.9	%			5,493				5,407				9,227				4,002				43.4	%
Capital market fees, net			5,187				891				4,296				N/M				(136	)			130				291				4,896				N/M
Bank owned life insurance income			4,509				3,756				753				20.0	%			4,240				3,256				3,310				1,199				36.2	%
Asset sale gains (losses), net			514				(2,354	)			2,868				(121.8	%)			1,477				(1,641	)			(1,551	)			2,065				(133.1	%)
Investment securities gains (losses), net			(1,883	)			3,365				(5,248	)			(156.0	%)			(146	)			23,581				(395	)			(1,488	)			376.7	%
Other			5,797				6,556				(759	)			(11.6	%)			6,336				5,253				7,078				(1,281	)			(18.1	%)
Total noninterest income			84,697				81,897				2,800				3.4	%			80,891				98,038				84,734				(37	)			(0.0	%)
Noninterest Expense
Personnel expense			83,912				80,640				3,272				4.1	%			79,342				79,355				72,620				11,292				15.5	%
Occupancy			12,899				12,157				742				6.1	%			11,706				13,175				12,170				729				6.0	%
Equipment			4,899				4,637				262				5.7	%			4,450				4,385				4,551				348				7.6	%
Data processing			7,047				7,502				(455	)			(6.1	%)			7,866				7,299				7,728				(681	)			(8.8	%)
Business development and advertising			4,870				4,297				573				13.3	%			4,773				4,445				4,443				427				9.6	%
Other intangible amortization			1,206				1,206				—				0.0	%			1,254				1,253				1,386				(180	)			(13.0	%)
Legal and professional fees			5,353				6,774				(1,421	)			(21.0	%)			5,517				2,795				6,386				(1,033	)			(16.2	%)
Foreclosure/OREO expense			9,860				7,349				2,511				34.2	%			8,906				7,729				10,852				(992	)			(9.1	%)
FDIC expense			11,095				11,426				(331	)			(2.9	%)			12,027				11,829				9,618				1,477				15.4	%
Other			25,702				20,592				5,110				24.8	%			19,197				19,594				29,260				(3,558	)			(12.2	%)
Total noninterest expense			166,843				156,580				10,263				6.6	%			155,038				151,859				159,014				7,829				4.9	%
Income (loss) before income taxes			5,714				15,221				(9,507	)			(62.5	%)			(12,019	)			(49,944	)			(290,716	)			296,430				(102.0	%)
Income tax expense (benefit)			(8,294	)			917				(9,211	)			N/M				(9,240	)			(23,555	)			(117,479	)			109,185				(92.9	%)
Net income (loss)			14,008				14,304				(296	)			(2.1	%)			(2,779	)			(26,389	)			(173,237	)			187,245				(108.1	%)
Preferred stock dividends and discount			7,400				7,389				11				0.1	%			7,377				7,365				7,354				46				0.6	%
Net income (loss) available to common equity		$	6,608			$	6,915			$	(307	)			(4.4	%)		$	(10,156	)		$	(33,754	)		$	(180,591	)		$	187,199				(103.7	%)
Earnings (Loss) Per Common Share:
Basic		$	0.04			$	0.04			$	—				0.0	%		$	(0.06	)		$	(0.20	)		$	(1.41	)		$	1.45				(102.8	%)
Diluted		$	0.04			$	0.04			$	—				0.0	%		$	(0.06	)		$	(0.20	)		$	(1.41	)		$	1.45				(102.8	%)
Average Common Shares Outstanding:
Basic			173,068				172,989				79				0.0	%			172,921				165,842				127,869				45,199				35.3	%
Diluted			173,072				172,990				82				0.0	%			172,921				165,842				127,869				45,203				35.4	%

Selected Quarterly Information
Associated Banc-Corp

(in thousands, except per share and full time
equivalent employee data)		YTD 2010				YTD 2009				4th Qtr 2010				3rd Qtr 2010				2nd Qtr 2010				1st Qtr 2010				4th Qtr 2009
Summary of Operations
Net interest income		$	633,779			$	726,005			$	150,860			$	153,904			$	159,793			$	169,222			$	178,353
Provision for loan losses			390,010				750,645				63,000				64,000				97,665				165,345				394,789
Asset sale gains (losses), net			(2,004	)			(4,071	)			514				(2,354	)			1,477				(1,641	)			(1,551	)
Investment securities gains (losses), net			24,917				8,774				(1,883	)			3,365				(146	)			23,581				(395	)
Noninterest income (excluding securities & asset gains)			322,610				346,258				86,066				80,886				79,560				76,098				86,680
Noninterest expense			630,320				611,420				166,843				156,580				155,038				151,859				159,014
Income (loss) before income taxes			(41,028	)			(285,099	)			5,714				15,221				(12,019	)			(49,944	)			(290,716	)
Income tax expense (benefit)			(40,172	)			(153,240	)			(8,294	)			917				(9,240	)			(23,555	)			(117,479	)
Net income (loss)			(856	)			(131,859	)			14,008				14,304				(2,779	)			(26,389	)			(173,237	)
Net income (loss) available to common equity			(30,387	)			(161,207	)			6,608				6,915				(10,156	)			(33,754	)			(180,591	)
Taxable equivalent adjustment			23,635				24,820				5,721				5,914				5,966				6,034				6,188
Per Common Share Data
Net income (loss):
Basic		$	(0.18	)		$	(1.26	)		$	0.04			$	0.04			$	(0.06	)		$	(0.20	)		$	(1.41	)
Diluted			(0.18	)			(1.26	)			0.04				0.04				(0.06	)			(0.20	)			(1.41	)
Dividends			0.04				0.47				0.01				0.01				0.01				0.01				0.05
Market Value:
High		$	16.10			$	21.39			$	15.49			$	13.90			$	16.10			$	14.54			$	13.00
Low			11.48				9.21				12.57				11.96				12.26				11.48				10.37
Close			15.15				11.01				15.15				13.19				12.26				13.76				11.01
Book value			15.28				17.42				15.28				15.53				15.46				15.44				17.42
Tangible book value			9.77				9.93				9.77				10.02				9.93				9.90				9.93
Performance Ratios (annualized)
Earning assets yield			4.03				4.72	%			3.89				3.90	%			4.10	%			4.24	%			4.59	%
Interest-bearing liabilities rate			1.06				1.45				0.98				1.03				1.10				1.11				1.24
Net interest margin			3.20				3.52				3.13				3.08				3.22				3.35				3.59
Return on average assets			(0.00	)			(0.56	)			0.25				0.25				(0.05	)			(0.46	)			(3.02	)
Return on average equity			(0.03	)			(4.54	)			1.74				1.77				(0.35	)			(3.40	)			(23.72	)
Return on average tangible common equity (1)			(1.77	)			(11.25	)			1.52				1.58				(2.37	)			(8.17	)			(50.16	)
Efficiency ratio (2)			64.32				55.73				68.76				65.05				63.20				60.42				58.63
Effective tax rate (benefit)			97.91				(53.75	)			(145.13	)			6.03				(76.88	)			(47.16	)			(40.41	)
Dividend payout ratio (3)			22.22				N/M				25.00				25.02				N/M				N/M				N/M
Average Balances
Assets		$	22,625,065			$	23,609,471			$	22,034,041			$	22,727,208			$	22,598,695			$	23,151,767			$	22,773,576
Earning assets			20,568,495				21,337,382				19,950,784				20,660,498				20,598,637				21,075,408				20,499,225
Interest-bearing liabilities			16,304,220				17,659,282				15,476,002				16,376,904				16,408,718				16,970,884				16,663,947
Loans			13,186,712				15,595,636				12,587,702				12,855,791				13,396,710				13,924,978				14,605,107
Deposits			16,946,301				15,959,046				16,452,473				17,138,105				17,056,193				17,143,924				16,407,034
Wholesale funding			2,452,610				4,584,909				2,311,016				2,326,469				2,343,119				2,837,001				3,332,642
Common stockholders’ equity			2,670,953				2,393,475				2,681,813				2,693,735				2,674,097				2,633,680				2,387,534
Stockholders’ equity			3,183,572				2,902,911				3,195,657				3,206,742				3,186,295				3,145,074				2,898,132
Common stockholders’ equity/assets			11.81	%			10.14	%			12.17	%			11.85	%			11.83	%			11.38	%			10.48	%
Stockholders’ equity / assets			14.07	%			12.30	%			14.50	%			14.11	%			14.10	%			13.58	%			12.73	%
At Period End
Assets										$	21,785,596			$	22,525,286			$	22,760,059			$	23,107,636			$	22,874,142
Loans											12,616,735				12,372,393				12,601,916				13,299,321				14,128,625
Allowance for loan losses											476,813				522,018				567,912				575,573				573,533
Goodwill											929,168				929,168				929,168				929,168				929,168
Mortgage servicing rights, net											63,909				59,483				65,629				64,190				63,753
Other intangible assets											24,135				25,341				26,547				27,801				29,054
Deposits											15,225,393				16,804,860				16,970,199				17,496,787				16,728,613
Wholesale funding											3,160,987				2,252,934				2,357,097				2,219,543				3,180,851
Stockholders’ equity											3,158,791				3,200,849				3,186,127				3,180,509				2,738,608
Stockholders’ equity / assets											14.50	%			14.21	%			14.00	%			13.76	%			11.97	%
Tangible common equity / tangible assets (4)											8.12	%			8.03	%			7.88	%			7.73	%			5.79	%
Tangible equity / tangible assets (5)											10.59	%			10.41	%			10.23	%			10.04	%			8.12	%
Tier 1 common equity / risk-weighted assets (6) (7)											12.26	%			12.31	%			12.00	%			11.43	%			7.85	%
Tier 1 leverage ratio (7)											11.19	%			10.78	%			10.80	%			10.57	%			8.76	%
Tier 1 risk-based capital ratio (7)											17.58	%			17.68	%			17.25	%			16.40	%			12.52	%
Total risk-based capital ratio (7)											19.05	%			19.16	%			19.02	%			18.15	%			14.24	%
Shares outstanding, end of period											173,112				173,019				172,955				172,880				127,876
Selected trend information
Average full time equivalent employees											4,865				4,827				4,766				4,777				4,802
Trust assets under management, at market value										$	5,700,000			$	5,400,000			$	5,100,000			$	5,500,000			$	5,300,000
Mortgage loans originated for sale during period											629,978				727,868				501,965				454,746				671,305
Mortgage portfolio serviced for others											7,453,000				7,860,000				7,822,000				7,751,000				7,667,000
Mortgage servicing rights, net / Portfolio serviced for others											0.86	%			0.76	%			0.84	%			0.83	%			0.83	%