EX-99.1

FORWARD-LOOKING STATEMENTS

Important

note

regarding

forward-looking

statements:

Statements made in this presentation which are not purely historical are forward-looking statements,

as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements

regarding management’s plans, objectives, or goals for future operations, products or services, and

forecasts of its revenues, earnings, or other measures of performance. Such forward-looking

statements may be identified by the use of words such as “believe”, “expect”, “anticipate”, “plan”,

“estimate”, “should”, “will”, “intend”, “outlook”, or similar expressions. Forward-looking statements are

based on current management expectations and, by their nature, are subject to risks and

uncertainties. Actual results may differ materially from those contained in the forward-looking

statements. Factors which may cause actual results to differ materially from those contained in such

forward-looking statements include those identified in the company’s most recent Form 10-K and

subsequent SEC filings. Such factors are incorporated herein by reference.

OUR FOOTPRINT AND FRANCHISE

•

Top 50, publicly traded,

U.S. bank holding

company

•

$25 billion in assets;

largest bank

headquartered in

Wisconsin

•

227 branches serving

approximately one

million customers

ASBC

Deposits²

($ in billions)

ASBC

Branches²

$12.2

161

$3.8

$1.5

Total

$17.5

227

FDIC market share data 6/30/13

As of 3/31/14 (Period End)

>$1bn deposits¹

>$500mm deposits¹

About Associated

1861

1999

1987

2011

2006

2012

ATTRACTIVE MIDWEST MARKETS

•

Service a Large Market

Place:

(Footprint is ~ 20% of

USA)¹

•

Manufacturing

Concentrated:

(Indiana, Wisconsin, and Iowa)

for concentration of

manufacturing jobs and two

other states in the top 10

•

Favorable Employment

Dynamics:

Minnesota, and Wisconsin all

have unemployment rates that

are under 6%³

•

Positive Economic Trends:

Adding jobs in footprint

US Census Bureau 2012 ;

Area Development Online

–

Author: Mark Crawford (Winter 2013);

March 2014 US Bureau of Labor

Statistics;

March

2014

Bureau

Labor

Statistics

Local

Area

Unemployment

Statistics

Manufacturing

Non-Farm

Employment

4 of Top 5

29.8

26.8

25.1

23.9

21.0

6.5

6.1

-10.8

March 2013 to March 2014 Net Change in

Employment (in ‘000’s)

Top 3 states

Indiana,

Iowa,

1Q 2014 HIGHLIGHTS AND OUTLOOK

•

Record Commercial Loan

Growth of $420 mm

–

Total average loans of $16.2

bn, up 3% from 4Q13

•

Disciplined Expense

Management

–

Noninterest expenses down

$12 mm from 4Q13

–

FTEs down 7% from 1Q13

•

Consistent Capital Deployment

–

Repurchased $39 mm of

common stock

1Q 2014 Highlights:

Outlook –

Growing the

Franchise & Creating Long-

Term Shareholder Value

•

Continued focus on organic

growth opportunities

•

Defending NIM compression in

low-rate environment

•

Strong focus on efficiency &

expense management

•

Disciplined focus on deploying

capital to drive long-term

shareholder value

–

Repurchased 1.6 million

shares of common stock

in April 2014

RESHAPING & REBUILDING THE LOAN

PORTFOLIO

Based on Average Annual Balances, $ in Billions

Installment

HELOCs &

2 Liens

Residential

Mortgage &

HE 1 Liens

Construction

CRE

Investor

Commercial

& Business

Lending

$16.4

$13.9

$12.7

$14.3

$15.5

12%

13%

14%

20%

35%

10%

19%

20%

31%

18%

28%

33%

$15.7

$16.2

10%

18%

31%

33%

19%

30%

36%

18%

29%

38%

19%

29%

37%

Q1 2009

Q1 2010

Q1 2011

Q1 2012

Q1 2013

Q4 2013

Q1 2014

LOAN PORTFOLIO GROWTH

AVERAGE LOAN GROWTH OF $416 MILLION OR 3% FROM FOURTH QUARTER 2013

1Q 2014 From Prior Quarter Average Net Loan Change

($ in millions)

Home Equity & Installment

Commercial Real Estate

Residential Mortgage

Power & Utilities

Oil & Gas

Mortgage Warehouse

General Commercial Loans

Total

Commercial &

Business

Lending =

+4%

(+$249)

+5%

Change

+7%

(3%)

(21%)

+3%

+21%

+2%

($73)

($40)

$38

$70

$94

$157

$171

COMMERCIAL LINE UTILIZATION TRENDS

Line utilization increased in all Commercial lines of business

Increase from 4Q 13

CRE + 110 bps

Specialized + 170 bps

Commercial + 200 bps

46.7%

48.5%

48.3%

46.6%

44.8%

46.8%

51.3%

56.5%

60.4%

61.1%

63.1%

64.2%

55.0%

52.9%

56.2%

52.1%

50.4%

52.1%

40.0%

50.0%

60.0%

70.0%

4Q 2012

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Commercial Banking

Commercial Real Estate

Specialized Industries

GROWING NET INTEREST INCOME WHILE

MARGIN COMPRESSES

Yield on Interest-earning Assets

Cost of Interest-bearing Liabilities

Net Interest Income & Net Interest Margin

($ in millions)

$158

$160

$161

$167

Net Interest Margin

$165

<$1

0.45%

0.41%

0.38%

0.35%

0.31%

0.18%

0.17%

0.15%

0.13%

0.12%

0.27%

0.24%

0.23%

0.22%

0.19%

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Interest Bearing Other Costs

Interest Bearning Deposit Costs

3.52%

3.47%

3.42%

3.50%

3.36%

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

$157

$159

$163

$164

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Net Interest Income Net of Interest Recoveries

Interest Recoveries

3.17%

3.16%

3.13%

3.23%

3.12%

COMMERCIAL & BUSINESS LENDING

($6.4 billion –

Mar 2014 –

Period End)

•

More than 280 colleagues serving businesses,

municipal governments, and entrepreneurs:

–

Includes General Commercial and Specialized

Lending efforts

–

Offers unsecured and customized commercial

finance lending solutions secured by accounts

receivable, inventory, machinery, and

equipment

–

Capital Markets revenue of $13 million in 2013

•

Approximately 50 Commercial Deposit and

Treasury Management colleagues

–

Streamlined cash management solutions via

our Associated Connect platform for

businesses, municipalities, and correspondent

banks

•

Associated Financial Group : More than 240

colleagues supporting our insurance brokerage

–

Leading benefits consultant in our markets

–

Providing Risk Management, HR, and Benefits

solutions for over 40 years

–

Insurance revenue of $44 million in 2013

Includes Missouri, Indiana, Ohio, Michigan, & Iowa

($6.4 billion –

Mar 2014 –

Period End)

C&BL Loans by Industry

C&BL Loans by State

COMMERCIAL REAL ESTATE LENDING

CRE Loans by Industry

($4.0 billion –

Mar 2014 –

Period End)

•

More than 90 CRE colleagues:

–

Offices in Chicago, Cincinnati, Detroit, Green

Bay, Indianapolis, Madison, Milwaukee,

Minneapolis, and St. Louis

•

Recognized as:

–

#1 in US Syndicated CRE facilities under

$50MM transaction size

–

#13 in US Syndicated CRE facilities Overall

Thomson Reuters LPC-January, 2014

Includes Missouri, Indiana, Ohio, Michigan, & Iowa

CRE Loans by State

($4.0 billion –

Mar 2014 –

Period End)

PRIVATE CLIENT & INSTITUTIONAL SERVICES

•

More than 170 colleagues:

–

Private banking, personal trust, and

portfolio management services for

individuals ($500k to $10 million in

investible assets)

–

Corporate trust, asset management

and retirement plan services

–

$20.0 billion of AUM and AUA at

March 31, 2014

Assets Under Management ($ in billions)

Assets Under Administration ($ in billions)

$6.0

$6.9

$7.5

(Thought Papers)

$7.9

$8.0

$12.5

Mar 2012

Mar 2013

Mar 2014

$2.3

$2.7

$2.6

$3.7

$4.2

$4.9

Mar 2012

Mar 2013

Mar 2014

Fixed and Cash

Equity

CAGR = 11%

CAGR = 23%

RETAIL BANKING

•

Over 2,000 colleagues servicing individuals and

small business owners through five business units:

–

Consumer Banking, Business Banking,

Residential Lending, Retail Payments, and

Retail Brokerage

•

#1 mortgage originator in Wisconsin

•

A leading SBA lender in our markets

•

Official bank of the Green Bay Packers

Beloit, Wisconsin (2013)

Residential Mortgage Loans by State

($3.9 billion –

Mar 2014 –

Period End)

Includes Missouri, Indiana, Ohio, Michigan, & Iowa

Approximately 40% is in first-lien position

Home Equity Loans by State

($1.8 billion –

Mar 2014 –

Period End)

Wisconsin

50%

Illinois

32%

Minnesota

12%

In-

Footprint

Other

Wisconsin

62%

Illinois

17%

Minnesota

12%

Other

UPDATING OUR MODEL

Named Top 10 Mobile Banking App in August 2013 (The Financial Brand)

Strategic Channel Evolution

Deploying Lower Cost Branch Concepts

Enhancing Virtual Banking

•

Deposit

Automation

ATM

•

Transaction

Express

•

Financial

Outlets

•

Online &

Mobile

Banking

•

Remote

Deposit

•

Person-to-

Person

Delivering Via Digital Channels

Selling Person

to Person

•

Inbound Sales

•

Outbound

Sales

•

Service to

Sales

Mobile Banking &

Remote Deposit

Deposit

Automation

ATM

Financial

Outlet

•

Digital

Shopping

•

Digital Sales

•

Digital Service

PURSUING EFFICIENCY GAINS

Areas of Focus

Back Office Initiatives:

•

Implementing

technology solutions

in labor intensive

processes

Real Estate Initiatives:

•

Actions to optimize

our real estate

holdings and capacity

Distribution Model

Initiatives:

•

Optimize the ways

that we interact with

our customers

Examples

•

Consolidation of

corporate offices in

Green Bay and Chicago

•

Consolidation of

certain operations in

Green Bay and Stevens

Point

•

Branch design

improvements

•

Channel development

and optimization

•

New commercial loan

system with end to

end processing

•

Outsourcing testing

and development

•

Right-sizing

mortgage processing

NONINTEREST INCOME TRENDS

($ IN MILLIONS)

Mortgage Banking Income

Core

Fee-based

Revenue

Other Non-Core²

Fee Income

Total Noninterest Income

–

= Trust service

fees plus Service charges on deposit accounts plus Card-based and other nondeposit

fees plus Insurance commissions plus Brokerage and annuity commissions. This is a non-GAAP measure. Please refer to the April

17,2014 press release tables for a definition of this non-GAAP measure.

–

Total Noninterest Income minus Core Fee-based Revenue minus Mortgage Banking Income. This

is a non-GAAP financial measure.

$18

$19

1Q 20132Q 20133Q 20134Q 20131Q 2014

$55

$58

$57

2013

2014

$10

1Q 20132Q 20133Q 20134Q 20131Q 2014

$82

$84

$71

$76

$74

2013

2014

Core Fee-based Revenue

Other Non-core Fee Income

NONINTEREST EXPENSE TRENDS

($ IN MILLIONS)

Total Noninterest Expense

Personnel

Spend

FTE

Trend

Efficiency Ratio

68%

67%

70%

73%

69%

Technology

Spend

Trend

Other

Non-Personnel

Spend

Trend

–

= Noninterest expense, excluding amortization of intangibles, divided by sum of taxable equivalent net interest income plus noninterest income, excluding

investment securities gains, net, and asset gains, net. This is

non-GAAP financial measure and the reconciliation to a GAAP measure can be found in the appendix.

–

FTE

Average Full Time Equivalent Employees

–

Technology Spend

Data Processing and Equipment expenses

–

Other Non-Personnel Spend

Total Noninterest Expense less Personnel and Technology spend

$168

$169

$165

$179

$168

2013

2014

$98

$100

$98

$101

$98

4,841

4,790

4,699

4,584

4,517

2013

2014

Personnel Spend

FTE

$18

$19

$12

$22

2013

2014

$52

$50

$49

$58

$51

$20

2013

2014

Efficiency ratio

CAPITAL MANAGEMENT PRIORITIES

Funding

Organic Growth

Paying a

Competitive

Dividend

Non-organic

Growth

Opportunities

Share Buybacks

and

Redemptions

2012

2013

•

Fund Loan Growth and other Capital Investments

•

Repurchased $60

mm of Common

Stock

•

Redeemed $205

mm in Trust

Preferred

•

Repurchased

$120 mm of

Common Stock

•

Retired $26 mm

in Sub-Debt

•

Increased

quarterly dividend

in Q4 2012

•

Paid $0.23/

common share

•

Increased

quarterly dividend

in Q4 2013

•

Paid $0.33/

common share

•

Focused on Cost Take-out Driven Depository M&A

•

Maintaining Discipline in Pricing of any Transaction

2014

•

Repurchased $39 mm

of Common Stock in

Q1 2014 and $30 mm

in Q2 2014

•

Retired $155 mm in

Senior Notes in Q1

2014

•

Declared quarterly

common dividend

of $0.09/ share in

Q1 2014

CAPITAL DEPLOYMENT OPPORTUNITIES

Basel I ASBC

1Q = 11.2%

1Q 10.5%

9.5%

Basel III ASBC

Basel III

Systematically Important Financial Institutions

Regional and Community Banks

= 7%

+1 -

2.5%

Organic Asset

Growth

Non Organic

Cash Acquisition

Repurchase /

Special Dividend

Capacity

In July 2013, the Federal Reserve and the OCC published final rules (the “Basel III Capital Rules”) establishing a new

comprehensive

capital

framework

for

U.S.

banking

organizations.

10.5%

estimate

Basel

III

capital

ratio.

Potential

Excess Capital

1.0 –

2.5%

Capital

Deployment

Options

WHY ASSOCIATED

•

Strong Capital Profile & Opportunities for

Capital Deployment

•

Committed to Efficiency Ratio Improvement

•

Leading Midwest Bank Operating in

Attractive Markets

•

Core Organic Growth Opportunity

•

Disciplined Loan and Deposit Pricing

•

Improving Credit Quality

•

Improving Earnings Profile

Reasons to Invest

Net

Income

Available

Common

ROT1CE

Management Team Focused on Creating

Long-Term Shareholder Value

Net Income Available

to Common

($ in millions)

Return on Tier 1

Common Equity

–

Return on Tier 1 Common Equity (ROT1CE)

= Management uses Tier 1 common equity, along with other

capital measures, to assess and monitor our capital position. This is a non-GAAP financial measure. Please refer

to the appendix for a definition of this and other non-GAAP items.

$115

$174

$184

6.7%

9.5%

9.8%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

$30

$60

$90

$120

$150

$180

$210

$240

2011

2012

2013

IMPROVEMENT IN CREDIT QUALITY INDICATORS

($ IN MILLIONS)

$344

$310

$277

$235

$220

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Potential Problem Loans

$225

$217

$208

$185

$178

1.45%

1.38%

1.33%

1.17%

1.08%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

$12

$16

$20

$24

$28

$36

$40

$48

$52

$56

$60

$64

$68

$72

$76

$80

$84

$88

$96

$100

$108

$112

$116

$120

$124

$132

$136

$140

$144

$148

$152

$156

$160

$164

$168

$176

$180

$188

$192

$196

$200

$204

$212

$216

$220

$224

$228

$232

$236

$240

$244

$248

$252

$256

$264

$268

$272

$276

$280

$284

$288

$292

$300

$304

$308

$312

$316

$320

$324

$328

$332

$336

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Nonaccruals

Nonaccruals / Loans

$14

0.38%

0.35%

0.14%

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

$20

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Net Charge Offs

NCOs / Avg Loans

127%

131%

145%

151%

1.84%

1.76%

1.74%

1.69%

1.63%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

80%

160%

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

ALLL/ Nonaccruals

ALLL/ Total Loans

Fair Value Composition –

March 31, 2014

Investment Portfolio –

March 31, 2014

Credit Rating

($ in thousands)

Fair Value

(000’s)

% of Total

Govt & Agency

$4,583,810

83.8%

AAA

97,113

1.8%

640,647

11.7%

140,683

2.6%

BAA1, BAA2 & BAA3

0.0%

BA1 & Lower

1,943

0.0%

Non-rated

6,857

0.2%

TOTAL Market Value

$5,471,054

100.0%

Type

Amortized

Cost

(000’s)

Fair Value

(000’s)

TEY

(%)

Duration

(Yrs)

Govt & Agencies

$1,001

$1,002

0.30

0.38

MBS

2,922,287

2,925,249

2.64

3.62

CMOs

848,403

846,690

2.54

3.00

GNMA CMBS

839,488

813,567

2.02

4.76

Municipals

834,192

858,490

5.26

4.81

ABS

21,318

21,282

0.55

0.28

Corporates

4,702

4,721

1.22

1.92

Other

TOTAL HTM &

AFS

$5,471,409

$5,471,054

2.90

3.85

INVESTMENT SECURITIES PORTFOLIO

Portfolio Ratings Composition –

March 31, 2014

Type

Fair Value

(000’s)

% of Total

0% RWA

$881,534

16.1%

20% RWA

4,562,745

83.4%

50% RWA

21,930

0.4%

=>100% RWA

7,149

0.1%

Not subject to RW

(2,304)

-0.0%

TOTAL Market Value

$5,471,054

100%

Risk Weighting Profile –

March 31, 2014

MBS Fixed

17%

MBS Hybrid

37%

CMOs

15%

GNMA CMBS

15%

Municipals

16%

SEGMENT PROFITABILITY

YTD MARCH 2014

* Average Earning Assets

ASBC

Earning Assets* = $21.9 bn

Total Revenue = $238.5 mm

Net Income = $45.2 mm

ROT1CE: 9.4%

Consumer Banking Segment

Earning Assets* = $7.2 bn

Total Revenue = $115.4 mm

Net Income = $7.2 mm

ROT1CE: 5.9%

Risk Management & Shared

Services Segment

Earning Assets* = $5.8 bn

Total Revenue = $25.3 mm

Net Income = $13.7 mm

ROT1CE: 8.1%

Commercial Banking

Segment

Earning Assets* = $8.9 bn

Total Revenue = $97.8 mm

Net Income = $24.4 mm

ROT1CE: 12.5%

NONINTEREST INCOME AND EXPENSE

COMPOSITION

FIRST QUARTER 2014

Noninterest Income by Category

Noninterest Expense by Category

($74 million)

($168 million)

Mortgage

Banking

Svc Chg on

Deposits

22%

Card & Other

Non Deposit

17%

Trust Service

Fees

16%

Insurance

17%

Capital Market

Brokerage &

Annuity

BOLI

Other

Personnel

58%

All other

16%

Occupancy

Technology

Equipment

Legal &

Professional

FDIC

RECONCILIATION AND DEFINITIONS OF

NON-GAAP ITEMS

(1) Efficiency

ratio

defined

the

Federal

Reserve

guidance

noninterest

expense

divided

the

sum

net

interest

income

plus

noninterest

income, excluding investment securities gains / losses, net. Efficiency ratio, fully taxable equivalent, is noninterest expense, excluding other

intangible amortization, divided by the sum of taxable equivalent net interest income plus noninterest income, excluding investment securities

gains / losses, net and asset gains / losses, net. This efficiency ratio is presented on a taxable equivalent basis, which adjusts net interest

income for the tax-favored status of certain loans and investment securities. Management believes this measure to be the preferred industry

measurement of net interest income as it enhances the comparability of net interest income arising from taxable and tax-exempt sources and it

excludes certain specific revenue items (such as investment securities gains / losses, net and asset gains / losses, net).

Definition

Tier

Common

Equity :

Tier

Common

Equity

(T1CE),

non-GAAP

financial

measure,

used

banking

regulators,

investors

and

analysts

assess

and

compare

the

quality and composition of our capital with the capital of other

financial services companies. Management uses Tier 1 common equity, along with

other capital measures, to assess and monitor our capital position. Tier 1 Common Equity is Tier 1 capital excluding qualifying perpetual

preferred stock and qualifying trust preferred securities.

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Efficiency Ratio Reconciliation:

Efficiency ratio (1)

70.03%

69.01%

71.45%

73.70%

70.41%

Taxable equivalent adjustment

(1.46)

(1.38)

(1.50)

(1.49)

(1.35)

Asset gains (losses), net

0.24

(0.01)

0.59

0.80

0.22

Other intangible amortization

(0.42)

(0.41)

(0.44)

(0.42)

Efficiency ratio, fully taxable equivalent (1)

68.39%

67.21%

70.10%

72.59%

68.86%