---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-122843"
form_type: "8-K"
ticker: "ASB"
cik: "0000007789"
company_name: "ASSOCIATED BANC-CORP"
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:41:22.802719+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Associated Banc-Corp details Phase 2 strategic plan: $25-30M expense cuts, balance sheet repositioning

## Summary
- Announced $25M-$30M expense reductions for 2024, including 3% workforce cut (Nov 8) and 14 branch closures by Mar 2024.
- Sold ~$0.8B securities and agreed to sell ~$1B mortgage loans; proceeds to pay down FHLB advances and reinvest at higher rates.
- Plan to add 20+ commercial relationship managers across all markets, with 4 already hired in Q4 2023.
- Reducing annual mortgage production by ~$2B vs 2022; targeting $2.5B incremental deposit growth and $750M commercial loan growth by year-end 2025.
- Key leadership hires: Terry Williams (CIO), Jayne Hladio (Private Wealth President), Phillip Trier (Commercial Banking Group Leader).

## SEC filing metadata
- accession: 0001104659-23-122843
- form_type: 8-K
- ticker: ASB
- cik: 0000007789
- company_name: ASSOCIATED BANC-CORP
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/7789/000110465923122843/0001104659-23-122843-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/7789/000110465923122843/tm2331873d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-122843
- JSON: https://secwatch.observer/filing/0001104659-23-122843.json
- Plain text: https://secwatch.observer/filing/0001104659-23-122843.txt

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