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enhancements to our mobile banking and online banking platforms for all customers. We remain the number one mortgage lender and Small Business Administration lender in Wisconsin. 

We continue to be pleased with the success of our Private Banking, Trust and Asset Management efforts. During the year, we strengthened this team with key hires in Milwaukee and more recently in Minneapolis. We appreciate and thank our recently retired Vice Chairman, Mark McMullen, for his many years of leadership in this area and are pleased that the group has continued to thrive with Tim Lau as its new leader. 

During the course of the year, we also added key talent to our support teams. Arthur Heise joined the company as Chief Risk Officer to facilitate our work toward navigating the increased compliance and risk management demands of the industry. Patrick Derpinghaus joined the company and assumed the position of Chief Audit Executive, following the retirement of Art Olsen. 

In July, we welcomed John (Jay) B. Williams to the Board. Jay currently serves as the President and CEO of the Milwaukee Public Museum, following a 37-year career in commercial banking in Wisconsin and Chicago, and brings a wealth of banking experience to our Board. 

## delivering Value for Communities 

Over the course of the year, our colleagues continued to show dedication to our local communities and combined to volunteer over 13,000 hours of service to nonprofit groups throughout 

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all of our markets. Additionally, this year we are proud to have raised over $1 million for United Way chapters through our annual workplace giving campaign. 

## delivering Value for Customers 

Early in 2010, we launched our Vision and Values statement that set the foundation for how we approach our business. We have recently launched our Customer Promise that builds on our Vision and Values by making a commitment to our customers of what they can expect from Associated in everyday interactions. We have included a copy of our Customer Promise on the following page of the annual report. 

## delivering Value for Shareholders 

We believe that by delivering for our customers and communities we can drive value for our shareholders over time. We are pleased to have delivered improving results for our shareholders over the course of this year and are proud to have recently announced an increase to our common dividend. Despite the challenging environment, we remain optimistic and are committed to building shareholder value through our long-term strategy for growth at Associated. 

Thank you for your continued support of Associated Banc-Corp. 

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March 6, 2012 

