Business Context and Reporting Period
Company: ASSOCIATED BANC-CORP
Filing Type: Form 8-K (Current Report)
Date of Report: February 14, 2014
Reporting Period: Specific event date (February 14, 2014)
This filing reports a regulatory event concerning the Company's wholly-owned subsidiary, Associated Bank. The Company announced that the Office of the Comptroller of the Currency (OCC) informed the Bank that the Consent Order issued on February 23, 2012, regarding the Bank's Bank Secrecy Act/Anti-Money Laundering Compliance Program, will be terminated.
Key Financial Metrics
This Form 8-K filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing is limited to reporting a specific regulatory event.
Material Changes
- Regulatory Status: The OCC will terminate the Consent Order issued on February 23, 2012, which related to the Bank's compliance program.
- Timeline: The Bank expects to receive formal notification of the termination in the first quarter of 2014.
Guidance, Outlook, and Risks
Outlook: Management expects formal notification of the Consent Order termination in Q1 2014.
Risks and Forward-Looking Statements: The filing includes standard forward-looking statements regarding management's plans and expectations. It notes that actual results may differ materially due to risks and uncertainties identified in the Company's most recent Form 10-K and subsequent SEC filings.
Investor Verification Checklist
- Verify the receipt of formal notification regarding the termination of the Consent Order in Q1 2014.
- Review the attached Press Release (Exhibit 99.1) for additional details on the compliance program improvements.
- Consult the most recent Form 10-K for a comprehensive list of risk factors affecting the Company.