Business Context and Reporting Period
This Form 8-K Current Report was filed by Associated Banc-Corp on April 16, 2003, regarding events occurring on April 14, 2003. Associated Banc-Corp is a diversified multibank holding company headquartered in Green Bay, Wisconsin, with total assets of $15 billion and over 200 banking offices across Wisconsin, Illinois, and Minnesota.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the current or prior periods. The only financial metric disclosed is the company's total assets of $15 billion.
Material Changes
The primary material change reported is a significant executive leadership transition:
- Appointment: Paul S. Beideman was elected President and Chief Executive Officer, effective April 28, 2003.
- Departure: Robert C. Gallagher is stepping down as President and CEO.
- Continuity: Robert C. Gallagher will remain Chairman of the Board and provide day-to-day support during the transition period.
Outlook, Management Commentary, and Risks
Management Commentary: Chairman Gallagher stated that the succession planning process was methodical and expressed confidence in Beideman's ability to continue the company's history of vision and performance. Beideman emphasized his confidence in the company's long-term prospects, citing its focus on associates, communities, customers, and integrity.
Outlook: The company aims to remain the preferred provider of financial services in its communities, focusing on strong personal relationships. Beideman is expected to build on the company's history of growth and performance.
Risks and Contingencies: The filing does not disclose specific financial risks or contingencies beyond the standard operational transition of leadership.
Key Facts for Investor Verification
- Verify the effective date of Paul S. Beideman's tenure as CEO (April 28, 2003).
- Confirm Robert C. Gallagher's continued role as Chairman of the Board.
- Review the company's total asset base of $15 billion as a baseline for scale.
- Note that detailed financial performance metrics (revenue, earnings, cash flow) are not included in this specific filing and should be sought in the most recent 10-K or 10-Q.