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Fourth Quarter 2021 Investor Presentation

11/08/2021 | 10:33pm EST

Associated Banc-Corp

Fourth Quarter

Investor Presentation

November 8, 2021

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 management's plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Such forward-looking statements may be identified by the use of words such as "believe," "expect," "anticipate," "plan," "estimate," "should," "will," "intend," "target," "outlook," "project," "guidance," or similar expressions. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements. Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the Company's most recent Form 10-K and subsequent Form 10-Qs and other SEC filings, and such factors are incorporated herein by reference.


All trademarks, service marks, and trade names referenced in this material are official trademarks and the property of their respective owners.


Within the charts and tables presented, certain segments, columns and rows may not sum to totals shown due to rounding.

Non-GAAP Measures:

This presentation includes certain non-GAAP financial measures. These non-GAAP measures are provided in addition to, and not as substitutes for, measures of our financial performance determined in accordance with GAAP. Our calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related GAAP measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found at the end of this presentation.


Strategic Vision

We've set our direction for driving Associated's shareholder returns higher over the next several years

Growth Focused

  • Capitalizing on the opportunities we see in our markets with investments geared to drive the bottom line
  • Expanding and diversifying revenue with new commercial and consumer lending verticals

Digital Forward

  • Serving our customers where and when they need us via online, mobile, and other channels
  • Proactively listening to our customers to deliver differentiated and responsive solutions in real time that add value and deepen engagement

Driving positive core operating

Transforming our systems to

leverage and improving ROATCE

accelerate growth


Our Strategic Initiatives

We are focused on driving Positive Operating Leverage and improved ROATCE

Expanding our Lending Capabilities

Growing our Core Businesses

Investing in our Digital Transformation




  • Diversifying our consumer portfolio by growing Auto Finance
  • Broadening our current Asset-BasedLending capabilities
  • Launching an Equipment Finance vertical in our commercial business
  • Accelerating core Commercial Middle Market lending growth
  • Enhancing Small Business, Consumer Direct and HELOC lending
  • Retooling our Mass Affluent strategy
  • Redirecting $50M of spend over the next five years to digital
  • Expecting deployment of new digital platforms in 1Q 2022
  • Transforming our legacy IT infrastructure to deliver greater differentiation
  • Optimizing Tangible Common Equity to accelerate ROATCE expansion
  • Paying a dividend commensurate with performance
  • Reducing our preferred capital layers


Expanding our Lending Capabilities Update

YTD Progress1

2022-23 Outlook

Rolling out Auto Finance

Expanding Asset- Based Lending




  • Nearly 800 dealers signed up
  • Currently active with over 200 "pilot" dealers in 13 states
  • Average FICO 747 for initial loans, ~six-year average term, ~70% used cars
  • ABL leader started in Sept. 2021
  • Existing staff of three relationship managers and two portfolio managers are in place - actively recruiting several additional business development officers
  • Equipment Finance leader started in Oct. 2021
  • Policy, procedure, and systems review is underway
  • Looking to hire direct sales and support staff in 4Q
  • Expect over $1.35 billion in loan balances by the end of 2022
  • Targeted portfolio net yields of 3%+
  • Projecting to grow auto loans to $2.5+ billion in 2023
  • Expect over $150 million in loan balances by the end of 2022
  • Targeted portfolio net yields of ~3%
  • Projecting to grow ABL loans to $300+ million in 2023
  • Expect over $150 million in loan balances by the end of 2022
  • Targeted portfolio net yields of ~3%
  • Projecting to grow equipment loans to $300+ million in 2023

1 As of November 8, 2021.


This is an excerpt of the original content. To continue reading it, access the original document here.


Associated Banc-Corp published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 03:32:01 UTC.

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Financials (USD)
Sales 2021 1 056 M - -
Net income 2021 320 M - -
Net Debt 2021 - - -
P/E ratio 2021 11,6x
Yield 2021 3,18%
Capitalization 3 512 M 3 512 M -
Capi. / Sales 2021 3,32x
Capi. / Sales 2022 3,11x
Nbr of Employees 4 006
Free-Float 83,7%
Duration : Period :
Associated Banc-Corp Technical Analysis Chart | ASB | US0454871056 | MarketScreener
Technical analysis trends ASSOCIATED BANC-CORP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 10
Last Close Price 23,82 $
Average target price 25,11 $
Spread / Average Target 5,42%
EPS Revisions
Managers and Directors
Andrew J. Harmening President, Chief Executive Officer & Director
Christopher J. Del Moral-Niles Chief Financial Officer & Executive Vice President
John B. Williams Chairman
Michael O. Meinolf Chief Information Officer & Executive VP
Eileen A. Kamerick Independent Director