BUZZ-Associated Banc-Corp dips after unveiling stock offering

Reuters11-15
BUZZ-<a href="https://laohu8.com/S/ASB">Associated Banc-Corp</a> dips after unveiling stock offering

** Shares of regional lender Associated Banc-Corp ASB.N fall 2.4% to $26.02 after the bell

** ASB announces public offering of 11.5 mln shares that are worth $306.7 mln based on stock's last close

** Co plans to use the proceeds for general corporate purposes, which may include investments in the bank and potential balance sheet repositioning

** An increasing number of regional lenders are tapping capital markets to raise equity after a Trump-fueled rally in bank stocks

** Regional lenders Dime Community Bancshares DCOM.O and Valley National Bancorp VLY.O have also recently raised equity

** ASB has 151.3 mln outstanding shares for $4.03 bln market capitalization - LSEG

** BofA Securities and J.P. Morgan are the joint book-running managers for the offering

** As of last close, ASB shares up 24.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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