Associated Bank Releases 2022 Sustainability Report
September 6, 2023
Source: PR Newswire
GREEN BAY, Wis., Sept. 6, 2023 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated Bank") has released its 2022 Sustainability Report. This annual report highlights the company's progress on environmental, social and governance initiatives and related priorities designed to improve the economic health of its markets; deliver a safe, productive and engaging workplace and culture; promote diversity, equity and inclusion; and preserve the environment. The report also features the Company's sustainability approach and governance practices.
"This report is one of the many ways we demonstrate our focus on driving a more sustainable future for our company and those we serve," said Andy Harmening, president and chief executive officer at Associated Bank. "From building an inclusive company culture where everyone feels welcome, to finding new ways to make our customers, colleagues and communities financially stronger, we couldn't be more proud of our efforts."
Among the many focus areas this report covers, key highlights from the past year include:
Community Commitments & Investments:
- Approximately $820 million in residential loans to support low- to moderate-income (LMI) and minority homeownership. This represents 4,330 residential mortgages helping families obtain homes.
- $649 million in community development loans and investments to create affordable housing options, provide community services and promote community development.
- $94 million in loans to small businesses.
- Nearly 55,500 hours of recorded volunteer time, including nearly 6,200 CRA-qualified service hours and 476 financial education seminars.
Colleague Development & Well-being:
- Advanced leadership, personal and professional development programs.
- Increased benefits and internal programming in support of mental health.
- Advanced inclusive benefits for colleagues and their families.
Diversity, Equity & Inclusion:
- More than 99% of colleagues participated in DE&I training.
- Approximately 45% of colleagues participated in Colleague Resource Groups.
- 62% middle and executive management diversity and 40% Board of Directors diversity as defined by gender, race or ethnicity.
- Elevated environmental sustainability as a mainstream corporate initiative and established a management-level Sustainability Committee.
- Established carbon footprint model focused on real estate space optimization, operational improvements and grid greening.
- Added a Director of ESG and Sustainability role to the company.
- Became active participant in Risk Management Association (RMA), American Bankers Association (ABA) and Bank Administration Institute (BAI) ESG Roundtable forums.
- Joined Wisconsin Sustainable Business Council in support of their mission to advance sustainable principles and practices through the power of business.
The report covers the period of January 1, 2022, through December 31, 2022, except where noted. Metrics reported are intended to align with the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD) and the EEO-1 Demographics indices. In addition, the Company introduced new sections to its Code of Business Conduct and Ethics and adopted a Responsible Marketing Statement.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $41 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.
Media Contact: Jennifer Kaminski
Vice President | Public Relations Senior Manager
920-491-7576 | Jennifer.Kaminski@AssociatedBank.com
Investor Contact: Ben McCarville
Vice President | Director of Investor Relations
920-491-7059 | Ben.McCarville@AssociatedBank.com
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