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Associated Banc-Corp Buyback

TSC and IRIS Staff

Bank holding company Associated Banc-Corp (ASBC Quote) said Thursday that it repurchased 2 million shares at $31.43 a share for a total cost of about $63 million from UBS AG London branch.

The shares, repurchased under an accelerated share repurchase program, represent about 1.5% of its outstanding common stock.

The accelerated share repurchase program enabled Associated to purchase the shares immediately, while UBS may purchase shares in the market over a period of up to 60 days.

The repurchased shares are subject to a future purchase price adjustment expected to be settled following a period of up to 60 days.

The Green Bay, Wis.-based company said there still remain about 3.3 million shares for buyback under a March 2006 repurchase authorization.

Associated has about 130 million common shares outstanding.