Associated Banc-Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Associated Banc-Corp on August 5, 2021. The filing reports a corporate action taken by the Board of Directors regarding the company's preferred stock structure.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial data disclosed relates to the specific redemption transaction:
- Shares Outstanding: 3,978,320 Series D Depositary Shares.
- Redemption Price: $25.00 per Series D Depositary Share.
- Additional Payment: Plus any declared and unpaid dividends accrued to the redemption date.
Material Changes
The Board of Directors called for the redemption of all outstanding depositary shares representing a 1/40th interest in the Company's 5.375% Perpetual Preferred Stock, Series D. The redemption is scheduled for September 15, 2021.
Outlook and Management Commentary
Management commentary is limited to the announcement of the redemption. The filing incorporates by reference a press release dated August 5, 2021, for further details. No specific guidance, risk factors, or contingencies beyond the execution of this redemption are detailed in the text of this report.
Investor Verification Checklist
- Verify the exact number of Series D Depositary Shares held in your account (3,978,320 total outstanding).
- Confirm the final redemption payment amount, including any accrued dividends up to September 15, 2021.
- Review the attached press release (Exhibit 99.1) for any additional terms or conditions regarding the redemption process.
- Check the impact of this redemption on the company's overall capital structure and dividend obligations.