---
schema_version: "secwatch.filing_event.v1"
accession: "0000007789-25-000187"
form_type: "8-K"
ticker: "ASB"
cik: "0000007789"
company_name: "ASSOCIATED BANC-CORP"
filed_at: "2025-12-01T23:59:59+00:00"
generated_at: "2026-05-16T15:57:38.694939+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Associated Banc-Corp to acquire American National Corp for ~$604M in stock

## Summary
- All-stock deal valued at ~$604M based on ASB closing price of $26.29 on Nov 28, 2025.
- American National shareholders receive 36.25 ASB shares per share; ~99% of shareholders already voted to approve.
- American National has $5.3B assets, $3.8B loans, $4.7B deposits as of Sept 30, 2025; operates 33 branches in NE, MN, IA.
- Transaction expected to close Q2 2026, subject to regulatory approvals; Associated becomes #2 in Omaha MSA, #10 in Minneapolis.
- Boards of both companies unanimously approved; Evercore and Wachtell advised ASB; Piper Sandler and Alston & Bird advised American National.

## SEC filing metadata
- accession: 0000007789-25-000187
- form_type: 8-K
- ticker: ASB
- cik: 0000007789
- company_name: ASSOCIATED BANC-CORP
- filed_at: 2025-12-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/7789/000000778925000187/0000007789-25-000187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/7789/000000778925000187/asb-20251201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000007789-25-000187
- JSON: https://secwatch.observer/filing/0000007789-25-000187.json
- Plain text: https://secwatch.observer/filing/0000007789-25-000187.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.