ASSOCIATED BANC-CORP — Director's Dealing 2005

May 4, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASSOCIATED BANC-CORP (ASBC)
CIK: 0000007789
Period of Report: 2005-05-02

Reporting Person: GALLAGHER ROBERT C (Director, Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-02	Common Stock $.01 Par Value	M	4528	$13.54	Acquired	438477	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-02	Non-Qualified Stock Option (right to buy)	$13.54	M	4528	Disposed	2006-01-24	Common Stock $.01 Par Value (4528)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock $.01 Par Value	0	Indirect
Common Stock $.01 Par Value	6463	Indirect