Associated Banc-Corp Cautious

Bank holding company Associated Banc-Corp(ASBC Quote) said that the interest rate environment and resultant competitive pressures in the first half of 2006 will make it challenging to achieve consensus earnings estimates.

The company's board also authorized a buyback of up to 6.8 million, or 5% of its outstanding shares.

On Monday, the company repurchased 4 million shares at $33.89 a share, for a total cost of $135.6 million. After the accelerated repurchase, the 2003 authorization is complete and about 5.4 million shares remain available under the current repurchase authorization, the company said. ...