The Associated Banc-Corp board of directors has authorized the repurchase of up to $120 million of the Green Bay-based company’s common stock.
This repurchase authorization is in addition to the $35 million remaining under the previously authorized common stock repurchase program announced on Nov. 13, 2012. Repurchases under such programs are subject to regulatory approval and may occur from time to time in open market purchases, block transactions, private transactions, accelerated share repurchase programs or similar facilities.
The board of the parent company of Associated Bank also authorized the redemption of all of its 9.250-percent subordinated notes due 2018 at the first redemption date and the purchase of up to $10 million of Associated Banc-Corp’s 8.0-percent perpetual preferred stock, Series B.
The board declared a regular quarterly cash dividend of 8 cents per common share, payable on Sept. 16, 2013, to shareholders of record at the close of business on September 3, 2013.