ASSOCIATED BANC-CORP — Director's Dealing 2005

May 24, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASSOCIATED BANC-CORP (ASBC)
CIK: 0000007789
Period of Report: 2005-05-20

Reporting Person: OLSEN ARTHUR E (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-20	Common Stock $.01 Par Value	A	4.46	—	Acquired	11464.05	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock $.01 Par Value	12902.014	Direct

Footnotes

F1: Based on an account valuation as of May 24, 2005, reflecting the settlement of inter-plan transfers into the stock fund which occurred on May 20, 2005.

F2: The closing price of Associated Banc-Corp common stock on May 20, 2005 was $32.83 per share.

F3: Total includes adjustment in shares at 9/30/95 in 401k trust account for which shares were purchased during the third quarter of 1995; Reporting person has elected a redistribution of shares within Plan effective 7/1/95 pursuant to an irrevocable election dated 12/16/94.