Associated Banc-Corp Announces New $120 Mln Stock Buyback Program

(RTTNews) - Associated Banc-Corp (ASBC) said Tuesday that its Board of Directors has authorized the repurchase of up to $120 million of the company's common stock.

The repurchase authorization is in addition to the previously authorized common stock repurchase program announced on July 23, 2013. There remains about $56 million under the previous authorization after Associated's repurchase of about $39 million of common stock this quarter.

The company also said its board has approved the filing of a shelf registration statement with the Securities and Exchange Commission for up to $500 million of common stock to be issued from time to time in connection with certain future business combinations. The company said it has no immediate plans to utilize such registration statement for an acquisition deal.

Associated also said that the Office of the Comptroller of the Currency has formally terminated the Consent Order dated February 23, 2012 relating to the Bank Secrecy Act/Anti-Money Laundering Compliance Program for Associated's subsidiary, Associated Bank, N.A.