NEWS RELEASE   Investor Contact: Tim Sedabres, VP of Finance, Investor Relations 920-491-7059   Media Contact: Autumn Latimore, Senior Vice President, Public Relations Director 414-278-1860

Associated Reports Third Quarter Earnings of $0.26 per share

Earnings per share increased 30% from a year ago

GREEN BAY, Wis. — October 18, 2012 — Associated Banc-Corp (NASDAQ: ASBC) today reported net income to common shareholders of $45 million, or $0.26 per common share, for the quarter ended September 30, 2012. This compares to net income to common shareholders of $34 million, or $0.20 per common share, for the comparable quarter ended September 30, 2011.

For the first nine months of 2012, Associated reported net income to common shareholders of $128 million, or $0.74 per common share. This compares to net income to common shareholders of $75 million, or $0.43 per common share, for the comparable year ago period.

“We continue to be focused on taking advantage of the opportunities to grow Associated across the footprint,” said President and CEO Philip B. Flynn. “We are encouraged by the solid performance this quarter and we remain focused on delivering increased value for shareholders of Associated.”

HIGHLIGHTS

• Net income to common shareholders of $45 million for the third quarter

– Quarterly earnings per share increased 8% from the prior quarter and 30% year-over-year

– Return on Tier 1 common equity for the quarter of 9.7%, compared to 7.8% a year ago

• Total loan balances increased by $267 million, or 2%, during the third quarter to $15.0 billion, and have increased by $1.5 billion, or 11%, from a year ago

– Commercial loans grew by $243 million, or 3% from the second quarter

– Residential mortgage loans increased by $125 million, or 4%, from the second quarter

– Retail loans, including home equity and installment loans, declined by $101 million from the second quarter

• Average deposits increased by a net $565 million, or 4%, to $15.6 billion during the third quarter

• Credit metrics continued to improve with levels of net charge offs, nonaccrual loans, potential problem loans, and delinquent loans all declining during the quarter

• Capital ratios remain very strong with a Tier 1 common equity ratio of 12.01%

• After the end of the quarter, we redeemed $150 million of 7.625% Trust Preferred Securities on October 1^st and expect to redeem the remaining $30 million of Trust Preferred Securities during the fourth quarter

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THIRD QUARTER 2012 FINANCIAL RESULTS

Loans

At September 30, 2012, the Company’s loan portfolio was $15.0 billion, up $267 million, or 2%, from $14.7 billion at June 30, 2012, and up $1.5 billion, or 11%, from $13.5 billion a year ago. Commercial loans, which include general commercial loans, specialized lending, and commercial real estate, grew by $243 million, or 3% from the second quarter and have increased by $1.4 billion, or 19% from a year ago. The residential mortgage portfolio grew by $125 million, or 4%, during the quarter while the retail portfolio, which includes home equity and installment loan balances, experienced net run-off of $101 million as consumers continued to refinance home equity loans into new first mortgages.

Deposits

Average deposits of $15.6 billion were up $565 million, or 4%, from the second quarter, and have increased by $1.2 billion, or 8%, from a year ago. Total deposits of $16.5 billion at the end of the third quarter were up $1.3 billion, or 9%, compared to second quarter levels. Period-end noninterest-bearing account balances grew by $446 million, or 12%, from the second quarter, and have increased by $609 million, or 16%, from a year ago. Money market balances increased by $860 million, or 15%, from the second quarter, and have increased by $1.5 billion, or 28%, from a year ago.

Net Interest Income and Net Interest Margin

Third quarter net interest income of $156 million increased by 1% compared to the prior quarter and was up 2% compared to the year-ago quarter. The net interest margin for the quarter was 3.26%. While yields on earning assets compressed by 7 basis points from the prior quarter, the cost of deposits and interest-bearing liabilities declined by 3 basis points, contributing to a net decrease in overall net interest margin of 4 basis points compared to the prior quarter.

Noninterest Income and Expense

Noninterest income for the quarter was $81 million, up $5 million, or 7%, from the second quarter. This revenue growth included a $3 million gain on the sale of securities. Revenue from trust service fees, service charges on deposit accounts, card-based fees, and capital markets fees all increased from the prior quarter. However, lower mortgage banking revenue and insurance commissions during the third quarter partially off-set the revenue increases.

Total noninterest expense for the quarter ended September 30, 2012 was $170 million, up $4 million, or 2%, from the second quarter. Personnel and occupancy expenses increased by $2 million from the prior quarter while legal and professional fees also increased by $2 million from the second quarter primarily related to ongoing BSA enhancements. Other expense categories, in aggregate, were flat compared to the second quarter.

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Credit

The Company recorded a provision of zero, reflecting another quarter of improving credit metrics. Nonaccrual loans were down 13%, to $278 million compared to the second quarter, and down 31%, from $403 million a year ago. Nonperforming assets declined 12% from the prior quarter to $314 million, and declined 30%, from $445 million a year ago.

Net charge offs of $18 million for the third quarter were down $6 million, or 26%, from the second quarter, and were 42% lower than a year ago. The Company’s allowance for loan losses was $315 million, representing an allowance equal to 2.11% of loans, and which represented a coverage ratio of over 113% of nonaccrual loans at September 30, 2012.

Capital Ratios

The Company’s capital position remains very strong, with a Tier 1 common equity ratio of 12.01% at September 30, 2012. The Company’s capital ratios continue to be well in excess of both current and proposed “well-capitalized” regulatory benchmarks.

THIRD QUARTER 2012 EARNINGS RELEASE CONFERENCE CALL

The Company will host a conference call for investors and analysts at 4:00 p.m. Central Time (CT) today, October 18, 2012. Interested parties can listen to the call live on the Internet through the investor relations section of the company’s website, http://investor.associatedbank.com/ or by dialing 877-317-6789. 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 412-317-6789. Participants should ask the operator for the Associated Banc-Corp third quarter 2012 earnings call.

An audio archive of the webcast will be available on the company’s website. A telephone replay will be available two hours after the completion of the call through 8:00 a.m. CT on November 19, 2012, by dialing 877-344-7529 and entering the conference ID number 10018690. The replay number for international callers is 412-317-0088.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NASDAQ: ASBC) has total assets of $23 billion and is one of the top 50, publicly traded, U.S. bank holding companies. Headquartered in Green Bay, Wis., Associated is a leading Midwest banking franchise, offering a full range of financial products and services through more than 250 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

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FORWARD LOOKING STATEMENTS

Statements made in this document 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”, “outlook”, 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 SEC filings. Such factors are incorporated herein by reference.

# # #

Consolidated Balance Sheets (Unaudited)

Associated Banc-Corp

(in thousands)	September 30, 2012			June 30, 2012			Seql Qtr $ Change			March 31, 2012			December 31, 2011			September 30, 2011			Comp Qtr $ Change
Assets
Cash and due from banks	$	419,529		$	414,760		$	4,769		$	360,728		$	454,958		$	410,644		$	8,885
Interest-bearing deposits in other financial institutions		531,303			180,050			351,253			344,148			154,562			250,648			280,655
Federal funds sold and securities purchased under agreements to resell		2,460			3,800			(1,340	)		7,100			7,075			4,180			(1,720	)
Securities held to maturity, at amortized cost		21,852			—			21,852			—			—			—			21,852
Securities available for sale, at fair value		4,496,198			4,521,436			(25,238	)		4,669,100			4,937,483			5,453,816			(957,618	)
Federal Home Loan Bank and Federal Reserve Bank stocks, at cost		166,100			176,041			(9,941	)		177,808			191,188			191,128			(25,028	)
Loans held for sale		157,093			157,481			(388	)		196,570			249,195			201,142			(44,049	)
Loans		14,966,214			14,698,902			267,312			14,253,725			14,031,071			13,503,507			1,462,707
Allowance for loan losses		(315,150	)		(332,658	)		17,508			(356,298	)		(378,151	)		(399,723	)		84,573
Loans, net		14,651,064			14,366,244			284,820			13,897,427			13,652,920			13,103,784			1,547,280
Premises and equipment, net		238,756			225,245			13,511			225,164			223,736			208,301			30,455
Goodwill		929,168			929,168			—			929,168			929,168			929,168			—
Other intangible assets, net		61,294			64,812			(3,518	)		68,374			67,574			67,970			(6,676	)
Trading assets		76,159			73,484			2,675			69,081			73,253			76,694			(535	)
Other assets		987,378			968,579			18,799			969,002			983,105			1,005,174			(17,796	)
Total assets	$	22,738,354		$	22,081,100		$	657,254		$	21,913,670		$	21,924,217		$	21,902,649		$	835,705
Liabilities and Stockholders’ Equity
Noninterest-bearing demand deposits	$	4,320,437		$	3,874,429		$	446,008		$	3,989,156		$	3,928,792		$	3,711,570		$	608,867
Interest-bearing deposits		12,130,155			11,232,442			897,713			11,664,220			11,161,863			11,070,840			1,059,315
Total deposits		16,450,592			15,106,871			1,343,721			15,653,376			15,090,655			14,782,410			1,668,182
Federal funds purchased and securities sold under agreements to repurchase		1,138,027			1,253,270			(115,243	)		1,236,219			1,514,485			2,213,364			(1,075,337	)
Other short-term funding		615,258			1,400,000			(784,742	)		700,000			1,000,000			318,412			296,846
Long-term funding		1,305,422			1,150,729			154,693			1,176,736			1,177,071			1,477,408			(171,986	)
Trading liabilities		82,861			80,107			2,754			75,130			80,046			84,376			(1,515	)
Accrued expenses and other liabilities		195,742			180,502			15,240			171,336			196,166			176,060			19,682
Total liabilities		19,787,902			19,171,479			616,423			19,012,797			19,058,423			19,052,030			735,872
Stockholders’ Equity
Preferred equity		63,272			63,272			—			63,272			63,272			63,272			—
Common stock		1,750			1,750			—			1,750			1,746			1,746			4
Surplus		1,599,070			1,594,995			4,075			1,590,336			1,586,401			1,585,208			13,862
Retained earnings		1,250,189			1,213,735			36,454			1,181,247			1,148,773			1,111,080			139,109
Accumulated other comprehensive income		67,303			66,579			724			65,278			65,602			89,313			(22,010	)
Treasury stock		(31,132	)		(30,710	)		(422	)		(1,010	)		—			—			(31,132	)
Total stockholders’ equity		2,950,452			2,909,621			40,831			2,900,873			2,865,794			2,850,619			99,833
Total liabilities and stockholders’ equity	$	22,738,354		$	22,081,100		$	657,254		$	21,913,670		$	21,924,217		$	21,902,649		$	835,705

Page 1

Consolidated Statements of Income (Unaudited)

Associated Banc-Corp

	For The Three Months Ended September 30,						Quarter						For The Nine Months Ended, September 30,						Year-to-Date
(in thousands, except per share amounts)	2012			2011			$ Change			% Change			2012			2011			$ Change			% Change
Interest Income
Interest and fees on loans	$	149,647		$	145,778		$	3,869			2.7	%	$	445,858		$	432,907		$	12,951			3.0	%
Interest and dividends on investment securities:
Taxable		20,548			30,513			(9,965	)		(32.7	%)		66,577			100,516			(33,939	)		(33.8	%)
Tax-exempt		7,127			7,376			(249	)		(3.4	%)		21,536			22,593			(1,057	)		(4.7	%)
Other interest		1,334			1,428			(94	)		(6.6	%)		3,843			4,324			(481	)		(11.1	%)
Total interest income		178,656			185,095			(6,439	)		(3.5	%)		537,814			560,340			(22,526	)		(4.0	%)
Interest Expense
Interest on deposits		9,751			15,644			(5,893	)		(37.7	%)		32,340			50,794			(18,454	)		(36.3	%)
Interest on Federal funds purchased and securities sold under agreements to repurchase		750			1,810			(1,060	)		(58.6	%)		2,129			4,919			(2,790	)		(56.7	%)
Interest on other short-term funding		815			1,229			(414	)		(33.7	%)		3,068			5,336			(2,268	)		(42.5	%)
Interest on long-term funding		11,738			13,252			(1,514	)		(11.4	%)		35,740			38,285			(2,545	)		(6.6	%)
Total interest expense		23,054			31,935			(8,881	)		(27.8	%)		73,277			99,334			(26,057	)		(26.2	%)
Net Interest Income		155,602			153,160			2,442			1.6	%		464,537			461,006			3,531			0.8	%
Provision for loan losses		—			4,000			(4,000	)		(100.0	%)		—			51,000			(51,000	)		(100.0	%)
Net interest income after provision for loan losses		155,602			149,160			6,442			4.3	%		464,537			410,006			54,531			13.3	%
Noninterest Income
Trust service fees		10,396			9,791			605			6.2	%		30,308			29,634			674			2.3	%
Service charges on deposit accounts		17,290			19,949			(2,659	)		(13.3	%)		52,100			58,125			(6,025	)		(10.4	%)
Card-based and other nondeposit fees		12,209			15,291			(3,082	)		(20.2	%)		35,172			46,636			(11,464	)		(24.6	%)
Insurance commissions		11,650			11,020			630			5.7	%		36,152			34,338			1,814			5.3	%
Brokerage and annuity commissions		3,632			4,027			(395	)		(9.8	%)		11,965			13,565			(1,600	)		(11.8	%)
Total core fee-based revenue		55,177			60,078			(4,901	)		(8.2	%)		165,697			182,298			(16,601	)		(9.1	%)
Mortgage banking, net		15,581			4,521			11,060			N/M			49,970			3,046			46,924			N/M
Capital market fees, net		3,609			3,273			336			10.3	%		9,998			4,761			5,237			110.0	%
Bank owned life insurance income		3,290			3,990			(700	)		(17.5	%)		10,746			11,076			(330	)		(3.0	%)
Asset losses, net		(3,309	)		(3,859	)		550			(14.3	%)		(11,887	)		(10,400	)		(1,487	)		14.3	%
Investment securities gains (losses), net		3,506			(744	)		4,250			N/M			4,109			(802	)		4,911			N/M
Other		3,134			1,737			1,397			80.4	%		6,752			11,608			(4,856	)		(41.8	%)
Total noninterest income		80,988			68,996			11,992			17.4	%		235,385			201,587			33,798			16.8	%
Noninterest Expense
Personnel expense		95,231			91,084			4,147			4.6	%		283,331			269,838			13,493			5.0	%
Occupancy		14,334			14,205			129			0.9	%		43,521			42,143			1,378			3.3	%
Equipment		5,935			4,851			1,084			22.3	%		17,122			14,587			2,535			17.4	%
Data processing		11,022			7,887			3,135			39.7	%		31,842			23,395			8,447			36.1	%
Business development and advertising		5,059			5,539			(480	)		(8.7	%)		15,908			16,134			(226	)		(1.4	%)
Other intangible amortization		1,048			1,179			(131	)		(11.1	%)		3,146			3,535			(389	)		(11.0	%)
Loan expense		3,297			2,600			697			26.8	%		9,155			8,539			616			7.2	%
Legal and professional fees		7,686			4,289			3,397			79.2	%		23,058			13,554			9,504			70.1	%
Losses other than loans		3,577			1,659			1,918			115.6	%		9,187			6,031			3,156			52.3	%
Foreclosure/OREO expense		4,071			4,982			(911	)		(18.3	%)		11,776			16,224			(4,448	)		(27.4	%)
FDIC expense		5,017			6,906			(1,889	)		(27.4	%)		14,665			22,348			(7,683	)		(34.4	%)
Other		13,426			14,299			(873	)		(6.1	%)		42,784			41,868			916			2.2	%
Total noninterest expense		169,703			159,480			10,223			6.4	%		505,495			478,196			27,299			5.7	%
Income before income taxes		66,887			58,676			8,211			14.0	%		194,427			133,397			61,030			45.8	%
Income tax expense		20,492			17,337			3,155			18.2	%		62,082			34,823			27,259			78.3	%
Net income		46,395			41,339			5,056			12.2	%		132,345			98,574		$	33,771			34.3	%
Preferred stock dividends and discount		1,300			7,305			(6,005	)		(82.2	%)		3,900			23,530			(19,630	)		(83.4	%)
Net income available to common equity	$	45,095		$	34,034		$	11,061			32.5	%	$	128,445		$	75,044		$	53,401			71.2	%
Earnings Per Common Share:
Basic	$	0.26		$	0.20		$	0.06			30.0	%	$	0.74		$	0.43		$	0.31			72.1	%
Diluted	$	0.26		$	0.20		$	0.06			30.0	%	$	0.74		$	0.43		$	0.31			72.1	%
Average Common Shares Outstanding:
Basic		171,650			173,418			(1,768	)		(1.0	%)		172,774			173,319			(545	)		(0.3	%)
Diluted		171,780			173,418			(1,638	)		(0.9	%)		172,848			173,321			(473	)		(0.3	%)

N/M = Not meaningful.

Page 2

Consolidated Statements of Income (Unaudited) - Quarterly Trend

Associated Banc-Corp

							Sequential Qtr															Comparable Qtr
(in thousands, except per share amounts)	3Q12			2Q12			$ Change			% Change			1Q12			4Q11			3Q11			$ Change			% Change
Interest Income
Interest and fees on loans	$	149,647		$	147,188		$	2,459			1.7	%	$	149,023		$	149,832		$	145,778		$	3,869			2.7	%
Interest and dividends on investment securities:
Taxable		20,548			23,000			(2,452	)		(10.7	%)		23,029			22,855			30,513			(9,965	)		(32.7	%)
Tax-exempt		7,127			7,135			(8	)		(0.1	%)		7,274			7,344			7,376			(249	)		(3.4	%)
Other interest		1,334			1,262			72			5.7	%		1,247			1,251			1,428			(94	)		(6.6	%)
Total interest income		178,656			178,585			71			0.0	%		180,573			181,282			185,095			(6,439	)		(3.5	%)
Interest Expense
Interest on deposits		9,751			10,553			(802	)		(7.6	%)		12,036			14,954			15,644			(5,893	)		(37.7	%)
Interest on Federal funds purchased and securities sold under agreements to repurchase		750			612			138			22.5	%		767			1,278			1,810			(1,060	)		(58.6	%)
Interest on other short-term funding		815			1,197			(382	)		(31.9	%)		1,056			879			1,229			(414	)		(33.7	%)
Interest on long-term funding		11,738			11,956			(218	)		(1.8	%)		12,046			12,346			13,252			(1,514	)		(11.4	%)
Total interest expense		23,054			24,318			(1,264	)		(5.2	%)		25,905			29,457			31,935			(8,881	)		(27.8	%)
Net Interest Income		155,602			154,267			1,335			0.9	%		154,668			151,825			153,160			2,442			1.6	%
Provision for loan losses		—			—			—			N/M			—			1,000			4,000			(4,000	)		(100.0	%)
Net interest income after provision for loan losses		155,602			154,267			1,335			0.9	%		154,668			150,825			149,160			6,442			4.3	%
Noninterest Income
Trust service fees		10,396			10,125			271			2.7	%		9,787			9,511			9,791			605			6.2	%
Service charges on deposit accounts		17,290			16,768			522			3.1	%		18,042			17,783			19,949			(2,659	)		(13.3	%)
Card-based and other nondeposit fees		12,209			12,084			125			1.0	%		10,879			11,269			15,291			(3,082	)		(20.2	%)
Insurance commissions		11,650			12,912			(1,262	)		(9.8	%)		11,590			11,216			11,020			630			5.7	%
Brokerage and annuity commissions		3,632			4,206			(574	)		(13.6	%)		4,127			3,665			4,027			(395	)		(9.8	%)
Total core fee-based revenue		55,177			56,095			(918	)		(1.6	%)		54,425			53,444			60,078			(4,901	)		(8.2	%)
Mortgage banking, net		15,581			16,735			(1,154	)		(6.9	%)		17,654			9,677			4,521			11,060			N/M
Capital market fees, net		3,609			2,673			936			35.0	%		3,716			3,950			3,273			336			10.3	%
Bank owned life insurance income		3,290			3,164			126			4.0	%		4,292			3,820			3,990			(700	)		(17.5	%)
Asset losses, net		(3,309	)		(4,984	)		1,675			(33.6	%)		(3,594	)		(1,799	)		(3,859	)		550			(14.3	%)
Investment securities gains (losses), net		3,506			563			2,943			N/M			40			(310	)		(744	)		4,250			N/M
Other		3,134			1,705			1,429			83.8	%		1,913			2,750			1,737			1,397			80.4	%
Total noninterest income		80,988			75,951			5,037			6.6	%		78,446			71,532			68,996			11,992			17.4	%
Noninterest Expense
Personnel expense		95,231			93,819			1,412			1.5	%		94,281			90,306			91,084			4,147			4.6	%
Occupancy		14,334			14,008			326			2.3	%		15,179			13,796			14,205			129			0.9	%
Equipment		5,935			5,719			216			3.8	%		5,468			5,286			4,851			1,084			22.3	%
Data processing		11,022			11,304			(282	)		(2.5	%)		9,516			9,080			7,887			3,135			39.7	%
Business development and advertising		5,059			5,468			(409	)		(7.5	%)		5,381			6,904			5,539			(480	)		(8.7	%)
Other intangible amortization		1,048			1,049			(1	)		(0.1	%)		1,049			1,179			1,179			(131	)		(11.1	%)
Loan expense		3,297			2,948			349			11.8	%		2,910			3,469			2,600			697			26.8	%
Legal and professional fees		7,686			5,657			2,029			35.9	%		9,715			4,651			4,289			3,397			79.2	%
Losses other than loans		3,577			2,060			1,517			73.6	%		3,550			11,890			1,659			1,918			115.6	%
Foreclosure/OREO expense		4,071			4,343			(272	)		(6.3	%)		3,362			5,169			4,982			(911	)		(18.3	%)
FDIC expense		5,017			4,778			239			5.0	%		4,870			6,136			6,906			(1,889	)		(27.4	%)
Other		13,426			14,877			(1,451	)		(9.8	%)		14,481			14,461			14,299			(873	)		(6.1	%)
Total noninterest expense		169,703			166,030			3,673			2.2	%		169,762			172,327			159,480			10,223			6.4	%
Income before income taxes		66,887			64,188			2,699			4.2	%		63,352			50,030			58,676			8,211			14.0	%
Income tax expense		20,492			20,871			(379	)		(1.8	%)		20,719			8,905			17,337			3,155			18.2	%
Net income		46,395			43,317			3,078			7.1	%		42,633			41,125			41,339			5,056			12.2	%
Preferred stock dividends and discount		1,300			1,300			—			0.0	%		1,300			1,300			7,305			(6,005	)		(82.2	%)
Net income available to common equity	$	45,095		$	42,017		$	3,078			7.3	%	$	41,333		$	39,825		$	34,034		$	11,061			32.5	%
Earnings Per Common Share:
Basic	$	0.26		$	0.24		$	0.02			8.3	%	$	0.24		$	0.23		$	0.20		$	0.06			30.0	%
Diluted	$	0.26		$	0.24		$	0.02			8.3	%	$	0.24		$	0.23		$	0.20		$	0.06			30.0	%
Average Common Shares Outstanding:
Basic		171,650			172,839			(1,189	)		(0.7	%)		173,846			173,523			173,418			(1,768	)		(1.0	%)
Diluted		171,780			172,841			(1,061	)		(0.6	%)		173,848			173,523			173,418			(1,638	)		(0.9	%)
N/M = Not meaningful.

Page 3

Selected Quarterly Information

Associated Banc-Corp

(in thousands, except per share and full time equivalent employee data)	YTD 2012			YTD 2011			3rd Qtr 2012			2nd Qtr 2012			1st Qtr 2012			4th Qtr 2011			3rd Qtr 2011
Summary of Operations
Net interest income	$	464,537		$	461,006		$	155,602		$	154,267		$	154,668		$	151,825		$	153,160
Provision for loan losses		—			51,000			—			—			—			1,000			4,000
Asset losses, net		(11,887	)		(10,400	)		(3,309	)		(4,984	)		(3,594	)		(1,799	)		(3,859	)
Investment securities gains (losses), net		4,109			(802	)		3,506			563			40			(310	)		(744	)
Noninterest income (excluding securities & asset gains)		243,163			212,789			80,791			80,372			82,000			73,641			73,599
Noninterest expense		505,495			478,196			169,703			166,030			169,762			172,327			159,480
Income before income taxes		194,427			133,397			66,887			64,188			63,352			50,030			58,676
Income tax expense		62,082			34,823			20,492			20,871			20,719			8,905			17,337
Net income		132,345			98,574			46,395			43,317			42,633			41,125			41,339
Net income available to common equity		128,445			75,044			45,095			42,017			41,333			39,825			34,034
Taxable equivalent adjustment		15,825			16,067			5,268			5,254			5,303			5,307			5,295
Per Common Share Data
Net income:
Basic	$	0.74		$	0.43		$	0.26		$	0.24		$	0.24		$	0.23		$	0.20
Diluted		0.74			0.43			0.26			0.24			0.24			0.23			0.20
Dividends		0.15			0.03			0.05			0.05			0.05			0.01			0.01
Market Value:
High	$	14.63		$	15.36		$	13.79		$	13.97		$	14.63		$	11.78		$	14.17
Low		11.43			8.95			12.04			11.76			11.43			9.15			8.95
Close		13.16			9.30			13.16			13.19			13.96			11.17			9.30
Book value		16.82			16.07			16.82			16.59			16.32			16.15			16.07
Tangible book value		11.31			10.59			11.31			11.07			10.87			10.68			10.59
Performance Ratios (annualized)
Earning assets yield		3.79	%		3.96	%		3.73	%		3.80	%		3.85	%		3.81	%		3.88	%
Interest-bearing liabilities rate		0.66			0.88			0.62			0.65			0.70			0.78			0.83
Net interest margin		3.29			3.28			3.26			3.30			3.31			3.21			3.23
Return on average assets		0.81			0.61			0.84			0.80			0.79			0.75			0.75
Return on average equity		6.07			4.33			6.29			5.98			5.93			5.71			5.49
Return on average Tier 1 common equity (1)		9.39			5.92			9.69			9.26			9.23			8.96			7.83
Efficiency ratio (2)		69.87			69.32			70.22			69.21			70.16			74.67			68.73
Effective tax rate		31.93			26.10			30.64			32.52			32.70			17.80			29.55
Dividend payout ratio (3)		20.27			6.98			19.23			20.83			20.83			4.35			5.00
Average Balances
Assets	$	21,787,668		$	21,532,170		$	22,016,748		$	21,684,600		$	21,659,139		$	21,755,870		$	21,729,187
Earning assets		19,473,207			19,420,572			19,659,796			19,386,046			19,371,729			19,506,627			19,530,007
Interest-bearing liabilities		14,927,753			15,129,294			14,940,697			14,922,006			14,920,413			15,095,689			15,215,517
Loans (4)		14,611,065			13,021,134			14,916,793			14,602,602			14,310,441			14,043,585			13,376,928
Deposits		15,223,805			14,235,123			15,615,856			15,050,684			15,000,567			14,893,469			14,405,311
Short and long-term funding		3,484,938			4,182,908			3,286,943			3,566,346			3,603,700			3,857,252			4,227,319
Common stockholders’ equity		2,849,876			2,709,688			2,870,438			2,852,050			2,826,913			2,792,823			2,765,023
Stockholders’ equity		2,913,148			3,044,872			2,933,710			2,915,322			2,890,185			2,856,095			2,987,178
Common stockholders’ equity / assets		13.08	%		12.58	%		13.04	%		13.15	%		13.05	%		12.84	%		12.72	%
Stockholders’ equity / assets		13.37	%		14.14	%		13.32	%		13.44	%		13.34	%		13.13	%		13.75	%
At Period End
Assets							$	22,738,354		$	22,081,100		$	21,913,670		$	21,924,217		$	21,902,649
Loans								14,966,214			14,698,902			14,253,725			14,031,071			13,503,507
Allowance for loan losses								315,150			332,658			356,298			378,151			399,723
Goodwill								929,168			929,168			929,168			929,168			929,168
Mortgage servicing rights, net								45,018			47,488			50,001			48,152			47,370
Other intangible assets, net								16,276			17,324			18,373			19,422			20,600
Deposits								16,450,592			15,106,871			15,653,376			15,090,655			14,782,410
Short and long-term funding								3,058,707			3,803,999			3,112,955			3,691,556			4,009,184
Stockholders’ equity								2,950,452			2,909,621			2,900,873			2,865,794			2,850,619
Stockholders’ equity / assets								12.98	%		13.18	%		13.24	%		13.07	%		13.01	%
Tangible common equity / tangible assets (5)								8.91	%		8.99	%		9.01	%		8.84	%		8.77	%
Tangible equity / tangible assets (6)								9.20	%		9.29	%		9.32	%		9.14	%		9.07	%
Tier 1 common equity / risk-weighted assets (7)								12.01	%		12.04	%		12.49	%		12.24	%		12.44	%
Tier 1 leverage ratio								9.99	%		9.95	%		10.03	%		9.81	%		9.62	%
Tier 1 risk-based capital ratio								13.57	%		13.64	%		14.33	%		14.08	%		14.35	%
Total risk-based capital ratio								15.00	%		15.08	%		15.78	%		15.53	%		15.81	%
Shares outstanding, end of period								171,657			171,611			173,923			173,575			173,474
Selected trend information
Average full time equivalent employees								4,965			4,951			5,045			5,056			4,980
Trust assets under management, at market value							$	6,200,000		$	5,900,000		$	6,000,000		$	5,600,000		$	5,300,000
Mortgage loans originated for sale during period								715,184			738,091			563,688			843,614			470,530
Mortgage portfolio serviced for others								7,547,000			7,511,000			7,284,000			7,321,000			7,281,000
Mortgage servicing rights, net / Portfolio serviced for others								0.60	%		0.63	%		0.69	%		0.66	%		0.65	%

(1) Return on average Tier 1 common equity = Net income available to common equity divided by average Tier 1 capital excluding qualifying perpetual preferred stock and qualifying trust preferred securities.

This is a non-GAAP financial measure.

(2) Efficiency ratio = Noninterest expense divided by sum of taxable equivalent net interest income plus noninterest income, excluding investment securities gains, net, and asset gains, net.

This is a non-GAAP financial measure.

(3) Ratio is based upon basic earnings per common share.

(4) Loans held for sale have been included in the average balances.

(5) Tangible common equity to tangible assets = Common stockholders’ equity excluding goodwill and other intangible assets divided by assets excluding goodwill and other intangible assets.

This is a non-GAAP financial measure.

(6) Tangible equity to tangible assets = Stockholders’ equity excluding goodwill and other intangible assets divided by assets excluding goodwill and other intangible assets.

This is a non-GAAP financial measure.

(7) Tier 1 common equity to risk-weighted assets = Tier 1 capital excluding qualifying perpetual preferred stock and qualifying trust preferred securities divided by risk-weighted assets. This is a non-GAAP financial measure.

Page 4

Selected Asset Quality Information

Associated Banc-Corp

(in thousands)	Sep 30, 2012			Jun 30, 2012			Sep12 vs Jun12 %  Change			Mar 31, 2012			Dec 31, 2011			Sep 30, 2011			Sep12 vs Sep11 %  Change
Allowance for Loan Losses
Beginning balance	$	332,658		$	356,298			(6.6	%)	$	378,151		$	399,723		$	425,961			(21.9	%)
Provision for loan losses		—			—			0.0	%		—			1,000			4,000			(100.0	%)
Charge offs		(25,030	)		(30,340	)		(17.5	%)		(31,259	)		(34,056	)		(38,155	)		(34.4	%)
Recoveries		7,522			6,700			12.3	%		9,406			11,484			7,917			(5.0	%)
Net charge offs		(17,508	)		(23,640	)		(25.9	%)		(21,853	)		(22,572	)		(30,238	)		(42.1	%)
Ending balance	$	315,150		$	332,658			(5.3	%)	$	356,298		$	378,151		$	399,723			(21.2	%)
Reserve for losses on unfunded commitments	$	19,800		$	18,900			4.8	%	$	15,600		$	14,700		$	14,900			32.9	%
Net Charge Offs	Sep 30, 2012			Jun 30, 2012			Sep12 vs Jun12 % Change			Mar 31, 2012			Dec 31, 2011			Sep 30, 2011			Sep12 vs Sep11 % Change
Commercial and industrial	$	3,831		$	14,544			(73.7	%)	$	3,872		$	231		$	3,741			2.4	%
Commercial real estate - owner occupied		(8	)		1,164			(100.7	%)		415			539			134			(106.0	%)
Lease financing		(20	)		—			0.0	%		(1,836	)		19			(1,889	)		(98.9	%)
Commercial and business lending		3,803			15,708			(75.8	%)		2,451			789			1,986			91.5	%
Commercial real estate - investor		1,905			177			N/M			7,354			2,394			10,472			(81.8	%)
Real estate construction		(187	)		558			(133.5	%)		230			7,088			5,646			(103.3	%)
Commercial real estate lending		1,718			735			133.7	%		7,584			9,482			16,118			(89.3	%)
Total commercial		5,521			16,443			(66.4	%)		10,035			10,271			18,104			(69.5	%)
Home equity		7,922			5,284			49.9	%		8,950			8,113			8,736			(9.3	%)
Installment		324			371			(12.7	%)		101			452			764			(57.6	%)
Total retail		8,246			5,655			45.8	%		9,051			8,565			9,500			(13.2	%)
Residential mortgage		3,741			1,542			142.6	%		2,767			3,736			2,634			42.0	%
Total net charge offs	$	17,508		$	23,640			(25.9	%)	$	21,853		$	22,572		$	30,238			(42.1	%)
Net Charge Offs to Average Loans (in basis points) *	Sep 30, 2012			Jun 30, 2012						Mar 31, 2012			Dec 31, 2011			Sep 30, 2011
Commercial and industrial		37			151						42			3			46
Commercial real estate - owner occupied		(0	)		43						16			20			5
Lease financing		(13	)		—						N/M			14			N/M
Commercial and business lending		29			126						20			7			18
Commercial real estate - investor		27			3						113			38			169
Real estate construction		(12	)		40						16			N/M			N/M
Commercial real estate lending		20			9						96			122			213
Total commercial		25			79						50			53			98
Home equity		132			86						144			127			134
Installment		26			28						7			32			52
Total retail		114			76						119			110			119
Residential mortgage		45			19						34			46			36
Total net charge offs		47			65						61			64			90
Credit Quality	Sep 30, 2012			Jun 30, 2012			Sep12 vs Jun12 % Change			Mar 31, 2012			Dec 31, 2011			Sep 30, 2011			Sep12 vs Sep11 % Change
Nonaccrual loans	$	278,172		$	317,872			(12.5	%)	$	327,085		$	356,772		$	403,392			(31.0	%)
Other real estate owned (OREO)		36,053			40,029			(9.9	%)		34,425			41,571			42,076			(14.3	%)
Total nonperforming assets	$	314,225		$	357,901			(12.2	%)	$	361,510		$	398,343		$	445,468			(29.5	%)
Loans 90 or more days past due and still accruing		2,334			5,224			(55.3	%)		2,497			4,925			1,220			91.3	%
Restructured loans (accruing)		135,791			122,229			11.1	%		120,719			113,164			113,083			20.1	%
Allowance for loan losses / loans		2.11	%		2.26	%					2.50	%		2.70	%		2.96	%
Allowance for loan losses / nonaccrual loans		113.29			104.65						108.93			105.99			99.09
Nonaccrual loans / total loans		1.86			2.16						2.29			2.54			2.99
Nonperforming assets / total loans plus OREO		2.09			2.43						2.53			2.83			3.29
Nonperforming assets / total assets		1.38			1.62						1.65			1.82			2.03
Net charge offs / average loans (annualized)		0.47			0.65						0.61			0.64			0.90
Year-to-date net charge offs / average loans		0.58			0.63						0.61			1.13			1.32
Nonaccrual loans by type:
Commercial and industrial	$	41,694		$	46,111			(9.6	%)	$	50,641		$	56,075		$	61,256			(31.9	%)
Commercial real estate - owner occupied		27,161			33,417			(18.7	%)		31,888			35,718			47,202			(42.5	%)
Lease financing		5,927			8,260			(28.2	%)		9,040			10,644			11,667			(49.2	%)
Commercial and business lending		74,782			87,788			(14.8	%)		91,569			102,437			120,125			(37.7	%)
Commercial real estate - investor		71,522			88,806			(19.5	%)		89,030			99,352			97,691			(26.8	%)
Real estate construction		31,684			36,403			(13.0	%)		36,471			41,806			72,300			(56.2	%)
Commercial real estate lending		103,206			125,209			(17.6	%)		125,501			141,158			169,991			(39.3	%)
Total commercial		177,988			212,997			(16.4	%)		217,070			243,595			290,116			(38.6	%)
Home equity		38,467			41,536			(7.4	%)		44,628			46,907			46,119			(16.6	%)
Installment		2,893			3,047			(5.1	%)		2,627			2,715			3,195			(9.5	%)
Total retail		41,360			44,583			(7.2	%)		47,255			49,622			49,314			(16.1	%)
Residential mortgage		58,824			60,292			(2.4	%)		62,760			63,555			63,962			(8.0	%)
Total nonaccrual loans	$	278,172		$	317,872			(12.5	%)	$	327,085		$	356,772		$	403,392			(31.0	%)

* Annualized.

N/M = Not meaningful.

Page 5

Selected Asset Quality Information (continued)

Associated Banc-Corp

(in thousands)	Sep 30, 2012		Jun 30, 2012		Sep12 vs Jun12 % Change			Mar 31, 2012		Dec 31, 2011		Sep 30, 2011		Sep12 vs Sep11 % Change
Restructured loans (accruing)
Commercial and industrial	$	35,015	$	28,399		23.3	%	$	25,622	$	22,552	$	23,020		52.1	%
Commercial real estate - owner occupied		15,706		7,115		120.7	%		6,926		8,138		5,439		188.8	%
Lease financing		—		—		0.0	%		—		—		—		0.0	%
Commercial and business lending		50,721		35,514		42.8	%		32,548		30,690		28,459		78.2	%
Commercial real estate - investor		49,249		49,325		(0.2	%)		45,845		43,417		43,453		13.3	%
Real estate construction		3,561		5,838		(39.0	%)		11,770		10,977		10,707		(66.7	%)
Commercial real estate lending		52,810		55,163		(4.3	%)		57,615		54,394		54,160		(2.5	%)
Total commercial		103,531		90,677		14.2	%		90,163		85,084		82,619		25.3	%
Home equity		9,467		9,471		(0.0	%)		9,092		8,950		10,556		(10.3	%)
Installment		672		779		(13.7	%)		999		1,015		965		(30.4	%)
Total retail		10,139		10,250		(1.1	%)		10,091		9,965		11,521		(12.0	%)
Residential mortgage		22,121		21,302		3.8	%		20,465		18,115		18,943		16.8	%
Total restructured loans (accruing)	$	135,791	$	122,229		11.1	%	$	120,719	$	113,164	$	113,083		20.1	%
Restructured loans in nonaccrual loans (not included above)	$	74,251	$	86,395		(14.1	%)	$	79,946	$	87,493	$	80,063		(7.3	%)
Loans Past Due 30-89 Days	Sep 30, 2012		Jun 30, 2012		Sep12 vs Jun12 % Change			Mar 31, 2012		Dec 31, 2011		Sep 30, 2011		Sep12 vs Sep11 % Change
Commercial and industrial	$	3,795	$	4,465		(15.0	%)	$	12,643	$	8,743	$	6,255		(39.3	%)
Commercial real estate - owner occupied		4,843		2,125		127.9	%		7,532		7,092		29,409		(83.5	%)
Lease financing		17		39		(56.4	%)		40		104		507		(96.6	%)
Commercial and business lending		8,655		6,629		30.6	%		20,215		15,939		36,171		(76.1	%)
Commercial real estate - investor		8,809		12,854		(31.5	%)		8,313		4,970		70,136		(87.4	%)
Real estate construction		1,254		1,618		(22.5	%)		1,736		996		5,493		(77.2	%)
Commercial real estate lending		10,063		14,472		(30.5	%)		10,049		5,966		75,629		(86.7	%)
Total commercial		18,718		21,101		(11.3	%)		30,264		21,905		111,800		(83.3	%)
Home equity		14,823		15,302		(3.1	%)		18,007		12,189		18,165		(18.4	%)
Installment		1,693		1,558		8.7	%		2,813		2,592		1,956		(13.4	%)
Total retail		16,516		16,860		(2.0	%)		20,820		14,781		20,121		(17.9	%)
Residential mortgage		6,878		9,836		(30.1	%)		10,114		7,224		12,114		(43.2	%)
Total loans past due 30-89 days	$	42,112	$	47,797		(11.9	%)	$	61,198	$	43,910	$	144,035		(70.8	%)
Potential Problem Loans	Sep 30, 2012		Jun 30, 2012		Sep12 vs Jun12 % Change			Mar 31, 2012		Dec 31, 2011		Sep 30, 2011		Sep12 vs Sep11 % Change
Commercial and industrial	$	120,888	$	121,764		(0.7	%)	$	157,778	$	153,306	$	207,351		(41.7	%)
Commercial real estate - owner occupied		120,034		108,508		10.6	%		112,673		136,366		140,406		(14.5	%)
Lease financing		214		324		(34.0	%)		487		158		507		(57.8	%)
Commercial and business lending		241,136		230,596		4.6	%		270,938		289,830		348,264		(30.8	%)
Commercial real estate - investor		133,046		142,453		(6.6	%)		167,339		230,206		252,331		(47.3	%)
Real estate construction		18,477		23,905		(22.7	%)		27,654		27,649		37,155		(50.3	%)
Commercial real estate lending		151,523		166,358		(8.9	%)		194,993		257,855		289,486		(47.7	%)
Total commercial		392,659		396,954		(1.1	%)		465,931		547,685		637,750		(38.4	%)
Home equity		3,343		4,173		(19.9	%)		4,441		5,451		4,975		(32.8	%)
Installment		131		127		3.1	%		142		233		272		(51.8	%)
Total retail		3,474		4,300		(19.2	%)		4,583		5,684		5,247		(33.8	%)
Residential mortgage		8,197		8,658		(5.3	%)		9,580		13,037		16,550		(50.5	%)
Total potential problem loans	$	404,330	$	409,912		(1.4	%)	$	480,094	$	566,406	$	659,547		(38.7	%)

Page 6

Net Interest Income Analysis - Taxable Equivalent Basis

Associated Banc-Corp

	Nine months ended September 30, 2012							Nine months ended September 30, 2011
(in thousands)	Average Balance		Interest Income  /Expense		Average Yield / Rate			Average Balance		Interest Income /Expense		Average Yield /Rate
Earning assets:
Loans: (1) (2) (3)
Commercial and business lending	$	5,041,098	$	149,001		3.95	%	$	4,187,882	$	134,119		4.28	%
Commercial real estate lending		3,316,306		105,259		4.24			2,933,824		98,608		4.49
Total commercial		8,357,404		254,260		4.06		$	7,121,706	$	232,727		4.37
Residential mortgage		3,277,879		91,273		3.71			2,685,994		84,564		4.20
Retail		2,975,782		103,230		4.63			3,213,434		118,127		4.91
Total loans		14,611,065		448,763		4.10			13,021,134		435,418		4.47
Investment securities		4,444,144		101,033		3.03			5,658,000		136,665		3.22
Other short-term investments		417,998		3,843		1.23			741,438		4,324		0.78
Investments and other		4,862,142		104,876		2.88			6,399,438		140,989		2.94
Total earning assets		19,473,207		553,639		3.79			19,420,572		576,407		3.96
Other assets, net		2,314,461							2,111,598
Total assets	$	21,787,668						$	21,532,170
Interest-bearing liabilities:
Savings deposits	$	1,085,514	$	626		0.08	%	$	977,064	$	861		0.12	%
Interest-bearing demand deposits		2,118,789		2,788		0.18			1,878,417		2,314		0.16
Money market deposits		5,930,870		11,233		0.25			5,093,270		12,736		0.33
Time deposits		2,307,642		17,693		1.02			2,997,635		34,883		1.56
Total interest-bearing deposits		11,442,815		32,340		0.38			10,946,386		50,794		0.62
Federal funds purchased and securities sold under agreements to repurchase		1,241,652		2,129		0.23			1,960,670		4,919		0.34
Other short-term funding		1,066,063		3,068		0.38			792,595		5,336		0.90
Total long-term funding		1,177,223		35,740		4.05			1,429,643		38,285		3.57
Total short and long-term funding		3,484,938		40,937		1.57			4,182,908		48,540		1.55
Total interest-bearing liabilities		14,927,753		73,277		0.66			15,129,294		99,334		0.88
Noninterest-bearing demand deposits		3,780,990							3,288,737
Other liabilities		165,777							69,267
Stockholders’ equity		2,913,148							3,044,872
Total liabilities and stockholders’ equity	$	21,787,668						$	21,532,170
Net interest income and rate spread (1)			$	480,362		3.13	%			$	477,073		3.08	%
Net interest margin (1)						3.29	%						3.28	%
Taxable equivalent adjustment			$	15,825						$	16,067
Net Interest Income Analysis - Taxable Equivalent Basis
Associated Banc-Corp	Three months ended September 30, 2012							Three months ended September 30, 2011
(in thousands)	Average Balance		Interest Income /Expense		Average Yield /Rate			Average Balance		Interest Income /Expense		Average Yield /Rate
Earning assets:
Loans: (1) (2) (3)
Commercial and business lending	$	5,275,069	$	51,432		3.88	%	$	4,329,916	$	45,302		4.15	%
Commercial real estate lending		3,440,220		35,913		4.16			3,007,611		33,859		4.47
Total commercial		8,715,289		87,345		3.99		$	7,337,527	$	79,161		4.28
Residential mortgage		3,320,212		30,044		3.62			2,869,445		29,385		4.09
Retail		2,881,292		33,251		4.60			3,169,956		38,102		4.78
Total loans		14,916,793		150,640		4.02			13,376,928		146,648		4.36
Investment securities		4,319,404		31,950		2.96			5,430,677		42,314		3.12
Other short-term investments		423,599		1,334		1.26			722,402		1,428		0.79
Investments and other		4,743,003		33,284		2.81			6,153,079		43,742		2.84
Total earning assets		19,659,796		183,924		3.73			19,530,007		190,390		3.88
Other assets, net		2,356,952							2,199,180
Total assets	$	22,016,748						$	21,729,187
Interest-bearing liabilities:
Savings deposits	$	1,117,194	$	229		0.08	%	$	1,013,333	$	289		0.11	%
Interest-bearing demand deposits		2,136,280		926		0.17			2,056,082		945		0.18
Money market deposits		6,240,596		3,932		0.25			5,092,120		3,841		0.30
Time deposits		2,159,684		4,664		0.86			2,826,663		10,569		1.48
Total interest-bearing deposits		11,653,754		9,751		0.33			10,988,198		15,644		0.56
Federal funds purchased and securities sold under agreements to repurchase		1,266,995		750		0.24			2,245,946		1,810		0.32
Other short-term funding		837,316		815		0.39			543,271		1,229		0.90
Total long-term funding		1,182,632		11,738		3.97			1,438,102		13,252		3.68
Total short and long-term funding		3,286,943		13,303		1.62			4,227,319		16,291		1.54
Total interest-bearing liabilities		14,940,697		23,054		0.62			15,215,517		31,935		0.83
Noninterest-bearing demand deposits		3,962,102							3,417,113
Other liabilities		180,239							109,379
Stockholders’ equity		2,933,710							2,987,178
Total liabilities and stockholders’ equity	$	22,016,748						$	21,729,187
Net interest income and rate spread (1)			$	160,870		3.11	%			$	158,455		3.05	%
Net interest margin (1)						3.26	%						3.23	%
Taxable equivalent adjustment			$	5,268						$	5,295

(1) The yield on tax exempt loans and securities is computed on a taxable equivalent basis using a tax rate of 35% for all periods presented and is net of the effects of certain disallowed interest deductions.

(2) Nonaccrual loans and loans held for sale have been included in the average balances.

(3) Interest income includes net loan fees.

Page 7

Net Interest Income Analysis - Taxable Equivalent Basis

Associated Banc-Corp

	Three months ended September 30, 2012							Three months ended June 30, 2012
(in thousands)	Average Balance		Interest Income / Expense		Average Yield / Rate			Average Balance		Interest Income / Expense		Average Yield / Rate
Earning assets:
Loans: (1) (2) (3)
Commercial and business lending	$	5,275,069	$	51,432		3.88	%	$	5,016,701	$	48,584		3.89	%
Commercial real estate lending		3,440,220		35,913		4.16			3,320,186		34,843		4.22
Total commercial		8,715,289		87,345		3.99		$	8,336,887	$	83,427		4.02
Residential mortgage		3,320,212		30,044		3.62			3,273,873		30,266		3.70
Retail		2,881,292		33,251		4.60			2,991,842		34,468		4.63
Total loans		14,916,793		150,640		4.02			14,602,602		148,161		4.07
Investment securities		4,319,404		31,950		2.96			4,402,800		34,416		3.13
Other short-term investments		423,599		1,334		1.26			380,644		1,262		1.33
Investments and other		4,743,003		33,284		2.81			4,783,444		35,678		2.98
Total earning assets		19,659,796		183,924		3.73			19,386,046		183,839		3.80
Other assets, net		2,356,952							2,298,554
Total assets	$	22,016,748						$	21,684,600
Interest-bearing liabilities:
Savings deposits	$	1,117,194	$	229		0.08	%	$	1,109,609	$	211		0.08	%
Interest-bearing demand deposits		2,136,280		926		0.17			2,105,440		917		0.18
Money market deposits		6,240,596		3,932		0.25			5,860,043		3,744		0.26
Time deposits		2,159,684		4,664		0.86			2,280,568		5,681		1.00
Total interest-bearing deposits		11,653,754		9,751		0.33			11,355,660		10,553		0.37
Federal funds purchased and securities sold under agreements to repurchase		1,266,995		750		0.24			1,114,964		612		0.22
Other short-term funding		837,316		815		0.39			1,279,319		1,197		0.38
Total long-term funding		1,182,632		11,738		3.97			1,172,063		11,956		4.08
Total short and long-term funding		3,286,943		13,303		1.62			3,566,346		13,765		1.55
Total interest-bearing liabilities		14,940,697		23,054		0.62			14,922,006		24,318		0.65
Noninterest-bearing demand deposits		3,962,102							3,695,024
Other liabilities		180,239							152,248
Stockholders’ equity		2,933,710							2,915,322
Total liabilities and stockholders’ equity	$	22,016,748						$	21,684,600
Net interest income and rate spread (1)			$	160,870		3.11	%			$	159,521		3.15	%
Net interest margin (1)						3.26	%						3.30	%
Taxable equivalent adjustment			$	5,268						$	5,254

(1) The yield on tax exempt loans and securities is computed on a taxable equivalent basis using a tax rate of 35% for all periods presented and is net of the effects of certain disallowed interest deductions.

(2) Nonaccrual loans and loans held for sale have been included in the average balances.

(3) Interest income includes net loan fees.

Financial Summary and Comparison

Associated Banc-Corp

Period End Loan Composition					Sep12 vs Jun12									Sep12 vs Sep11
	Sep 30, 2012		Jun 30, 2012		% Change			Mar 31, 2012		Dec 31, 2011		Sep 30, 2011		% Change
Commercial and industrial	$	4,265,356	$	4,076,370		4.6	%	$	3,719,016	$	3,724,736	$	3,360,502		26.9	%
Commercial real estate - owner occupied		1,197,517		1,116,815		7.2	%		1,074,755		1,086,829		1,068,616		12.1	%
Lease financing		60,818		62,750		(3.1	%)		61,208		58,194		54,849		10.9	%
Commercial and business lending		5,523,691		5,255,935		5.1	%		4,854,979		4,869,759		4,483,967		23.2	%
Commercial real estate - investor		2,787,158		2,810,521		(0.8	%)		2,664,251		2,563,767		2,481,411		12.3	%
Real estate construction		611,186		612,556		(0.2	%)		565,953		584,046		554,024		10.3	%
Commercial real estate lending		3,398,344		3,423,077		(0.7	%)		3,230,204		3,147,813		3,035,435		12.0	%
Total commercial		8,922,035		8,679,012		2.8	%		8,085,183		8,017,572		7,519,402		18.7	%
Home equity		2,356,900		2,429,594		(3.0	%)		2,501,770		2,504,704		2,571,404		(8.3	%)
Installment		482,451		510,831		(5.6	%)		537,628		557,782		572,243		(15.7	%)
Total retail		2,839,351		2,940,425		(3.4	%)		3,039,398		3,062,486		3,143,647		(9.7	%)
Residential mortgage		3,204,828		3,079,465		4.1	%		3,129,144		2,951,013		2,840,458		12.8	%
Total consumer		6,044,179		6,019,890		0.4	%		6,168,542		6,013,499		5,984,105		1.0	%
Total loans	$	14,966,214	$	14,698,902		1.8	%	$	14,253,725	$	14,031,071	$	13,503,507		10.8	%

Period End Deposit and Customer Funding Composition					Sep12 vs Jun12									Sep12 vs Sep11
	Sep 30, 2012		Jun 30, 2012		% Change			Mar 31, 2012		Dec 31, 2011		Sep 30, 2011		% Change
Noninterest-bearing demand	$	4,320,437	$	3,874,429		11.5	%	$	3,989,156	$	3,928,792	$	3,711,570		16.4	%
Savings		1,115,783		1,117,593		(0.2	%)		1,098,975		986,766		1,013,195		10.1	%
Interest-bearing demand		2,230,740		2,078,037		7.3	%		2,040,900		2,297,454		2,071,627		7.7	%
Money market		6,682,640		5,822,449		14.8	%		6,176,981		5,150,275		5,205,401		28.4	%
Brokered CDs		33,612		41,104		(18.2	%)		46,493		202,948		203,827		(83.5	%)
Other time		2,067,380		2,173,259		(4.9	%)		2,300,871		2,524,420		2,576,790		(19.8	%)
Total deposits		16,450,592		15,106,871		8.9	%		15,653,376		15,090,655		14,782,410		11.3	%
Customer repo sweeps		600,225		592,203		1.4	%		635,697		664,624		871,619		(31.1	%)
Customer repo term		448,782		619,897		(27.6	%)		509,332		695,131		1,141,450		(60.7	%)
Total customer funding		1,049,007		1,212,100		(13.5	%)		1,145,029		1,359,755		2,013,069		(47.9	%)
Total deposits and customer funding	$	17,499,599	$	16,318,971		7.2	%	$	16,798,405	$	16,450,410	$	16,795,479		4.2	%
Network transaction deposits included above in interest-bearing demand and money market		1,740,434		1,234,010		41.0	%		1,171,679		875,052		875,630		98.8	%
Brokered CDs		33,612		41,104		(18.2	%)		46,493		202,948		203,827		(83.5	%)
Total network and brokered funding		1,774,046		1,275,114		39.1	%		1,218,172		1,078,000		1,079,457		64.3	%
Net customer deposits and funding (4)		15,725,553		15,043,857		4.5	%		15,580,233		15,372,410		15,716,022		0.1	%

(4) Total deposits and customer funding excluding total network and brokered funding.

Page 8