Associated Banc-Corp (ASB) 8-K Associated reports first quarter earnings of $0.28 per common share, up from $0.11 for the fourth quarter of 2008

Exhibit 99.1

	NEWS RELEASE For more information:
	Investors: Joe Selner, Chief Financial Officer, 920-491-7120 Media: Janet L. Ford, SVP of Public Relations, 414-207-5070

Associated reports first quarter earnings of $0.28 per common
share, up from $0.11 for the fourth quarter of 2008

• Net income available to common shareholders was $35.4 million for the first quarter compared to $13.6 million for the fourth quarter of 2008

• Net interest income for the quarter was $189.3 million compared to $191.8 million for the fourth quarter of 2008

• Total deposits grew by 4.7% to $15.9 billion at March 31, 2009 compared to $15.2 billion at December 31, 2008 and were up 14.3% from $13.9 billion at March 31, 2008

• Mortgage loans originated for sale exceeded $1 billion during the quarter

• Provision for loan losses of $105.4 million exceeded net charge offs of $57.6 million by $47.8 million, increasing allowance for loan losses to 1.97% of loans at March 31, 2009, up from 1.63% at December 31, 2008

• Tangible common equity ratio remained stable at 6.10%

• Quarterly dividend reduced to $0.05 per common share to preserve capital

GREEN BAY, Wis. —April 16, 2009 — Associated Banc-Corp (NASDAQ: ASBC) reported net income available to common shareholders of $35.4 million, or $0.28 per common share, for the quarter ended March 31, 2009. This compares to net income of $13.6 million, or $0.11 per common share for the fourth quarter of 2008, and net income of $66.5 million, or $0.52 per common share, for the first quarter of 2008.

Net interest income for the quarter was $189.3 million compared to $191.8 million for the fourth quarter of 2008 and $165.1 million for the same quarter a year ago. The company’s net interest margin was 3.59% at March 31, 2009 down 29 basis points from 3.88% at December 31, 2008 and comparable to 3.58% at March 31, 2008.

The provision for loan losses for the quarter was $105.4 million compared to $65.0 million for the fourth quarter of 2008, and $23.0 million for the same period one year ago. Net charge offs for the quarter were $57.6 million compared to $45.9 million for the fourth quarter of 2008, and $16.0 million for the first quarter of 2008. Nonperforming loans were $452.2 million at March 31, 2009 compared to $340.7 million at December 31, 2008. The increase in nonperforming loans reflects the continued deterioration in commercial real estate and construction credits. The increase in net charge offs is primarily attributable to several commercial and industrial loans. Going forward, the company expects the provision for loan losses to be lower than the provision in first quarter of 2009.

On average, loans were $16.4 billion for the first quarter of 2009, up $0.1 billion from the fourth quarter of 2008, with residential mortgage loan growth offset by declines in other loan categories. On a period end basis, loans were $15.9 billion at March 31, 2009, down $0.4 billion from December 31, 2008, representing declines in both commercial and retail balances.

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ASBC 1Q ’09page 2 of 3

Deposits, on average, were $15.0 billion for the first quarter 2009, up $0.7 billion compared to fourth quarter 2008 and up $1.4 billion compared to first quarter 2008. On a period end basis, deposits grew to $15.9 billion at March 31, 2009, up 4.7% from $15.2 billion at December 31, 2008 and up 14.3% from $13.9 billion a year ago. The year over year growth is primarily attributable to increases in demand and money market deposits, and higher levels of network transaction deposits and brokered CDs.

Mortgage loans originated for sale during the first quarter exceeded $1 billion, an increase of $832 million from the fourth quarter of 2008. This exceptionally strong first quarter compares to $247 million for the fourth quarter of 2008 and $517 million for the first quarter of 2008. For the first quarter 2009, net mortgage banking income was $4.3 million compared to a loss of $1.2 million for the fourth quarter of 2008. First quarter results include a $12.3 million valuation charge related to mortgage servicing rights, compared to a $7.2 million valuation charge in the fourth quarter of 2008. The outlook for second quarter mortgage production remains strong with current locked mortgage commitments of approximately $780 million at March 31, 2009.

Core fee-based revenue of $61.4 million for the first quarter 2009 was comparable to first quarter 2008, as growth in deposit fees was offset by declines in other core fee-based revenue categories largely due to market declines and lower commercial lending fees.

Total noninterest expenses were $141.3 million, down $7.5 million from $148.8 million in the fourth quarter 2008, and up $5.0 million from $136.3 million in the first quarter 2008. The efficiency ratio improved to 51.31% in the first quarter of 2009, from 53.87% in the previous quarter and 52.79% in the first quarter 2008.

For the first quarter of 2009, income tax expense declined $33.1 million compared to the first quarter of 2008. The reduction in income tax expense was a result of lower income before tax and a $17.0 million, or $0.13 per common share, net decrease in the valuation allowance on and changes to state deferred tax assets as a result of the recently enacted Wisconsin combined reporting tax legislation. Excluding the state deferred tax assets adjustment, the quarter’s effective tax rate was 18.9% compared to 11.6% in the fourth quarter of 2008 and 24.8% in the first quarter of 2008.

More than $3.0 billion of credit has been originated or committed to be extended to new and existing customers since the infusion of capital from the TARP Capital Purchase Program. These loans support consumers and businesses that have a direct and indirect impact on jobs and the economy. In 2008, Associated Bank was named the No. 1 Small Business Administration (SBA) lender in Wisconsin for the fourth consecutive year, providing nearly twice as many loans as the number two SBA lender in the state. The bank continues to focus on providing credit in the communities it serves. Small business loans for the first quarter increased by 23% over the fourth quarter of 2008.

On April 16, 2009, the Board of Directors of Associated Banc-Corp declared a quarterly dividend of $0.05 per common share, a reduction of $0.27 from the previous quarterly dividend per common share of $0.32. The dividend is payable May 15, 2009, to shareholders of record at the close of business on May 7, 2009. “While the decision to reduce the quarterly dividend was difficult, we believe that it is in the best long-term interests of our shareholders to preserve capital during this time of unprecedented economic uncertainty and market volatility,” said Chairman and CEO Paul S. Beideman. “We believe the dividend reduction will better enable us to support our customers and communities, grow and expand our businesses, and maintain and enhance our tangible common equity. We recognize and appreciate the loyalty of our shareholders. We also understand the impact the dividend reduction will have on our shareholders. The Board of Directors and management are committed to increasing the dividend as soon as possible.”

Associated Banc-Corp (NASDAQ: ASBC) will host a conference call for investors and analysts at 3 p.m. Central Time (CT) Thursday, April 16, 2009. The toll-free dial-in number for the live call is 800-762-8779. The number for international callers is 480-248-5081. Participants should ask the operator for the Associated Banc-Corp first quarter 2009 earnings call, or for call ID number 4048464. A replay of the call will be available starting at 6 p.m. CT on April 16, 2009 through 12:00 midnight CT on May 16, 2009 by calling 800-406-7325 (toll-free) domestically or 303-590-3030 internationally. The call ID number, 4048464, is required to access the replay.

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ASBC 1Q ’09page 3 of 3

Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified bank holding company with total assets of $24 billion. Associated has approximately 300 banking offices serving approximately 160 communities in Wisconsin, Illinois, and Minnesota. The company offers a full range of traditional banking services and a variety of other financial products and services. More information about Associated Banc-Corp is available atwww.associatedbank.com.

Statements made in this document that 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. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. These statements may be identified by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “estimate,” “should,” “will,” “intend,” or similar expressions. Outcomes related to such statements are subject to numerous risk factors and uncertainties including those listed in the company’s Annual Report filed on Form 10-K.

Consolidated Balance Sheets (Unaudited)
Associated Banc-Corp

							Mar09 vs Dec08						Mar09 vs Mar08
	March 31,			December 31,						March 31,
(in thousands)	2009			2008			% Change			2008			% Change
Assets
Cash and due from banks	$	378,645		$	533,338			(29.0	%)	$	477,971			(20.8	%)
Interest-bearing deposits in other
financial institutions		12,527			12,649			(1.0	%)		25,216			(50.3	%)
Federal funds sold and securities purchased under agreements to resell		48,578			24,741			96.3	%		20,250			139.9	%
Securities available for sale, at fair value		5,495,822			5,349,417			2.7	%		3,616,280			52.0	%
Loans held for sale		355,077			87,084			307.7	%		123,652			187.2	%
Loans		15,917,952			16,283,908			(2.2	%)		15,785,283			0.8	%
Allowance for loan losses		(313,228	)		(265,378	)		18.0	%		(207,602	)		50.9	%
Loans, net		15,604,724			16,018,530			(2.6	%)		15,577,681			0.2	%
Premises and equipment, net		187,685			190,942			(1.7	%)		193,774			(3.1	%)
Goodwill		929,168			929,168			0.0	%		929,168			0.0	%
Other intangible assets, net		72,965			80,165			(9.0	%)		90,477			(19.4	%)
Other assets		1,264,534			966,033			30.9	%		849,284			48.9	%
Total assets	$	24,349,725		$	24,192,067			0.7	%	$	21,903,753			11.2	%
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	$	2,818,088		$	2,814,079			0.1	%	$	2,516,265			12.0	%
Interest-bearing deposits, excluding Brokered CDs		12,132,610			11,551,181			5.0	%		10,634,511			14.1	%
Brokered CDs		922,491			789,536			16.8	%		731,398			26.1	%
Total deposits		15,873,189			15,154,796			4.7	%		13,882,174			14.3	%
Short-term borrowings		3,365,130			3,703,936			(9.1	%)		3,852,524			(12.7	%)
Long-term funding		1,961,604			1,861,647			5.4	%		1,536,399			27.7	%
Accrued expenses and other liabilities		252,633			595,185			(57.6	%)		250,238			1.0	%
Total liabilities		21,452,556			21,315,564			0.6	%		19,521,335			9.9	%
Stockholders’ Equity
Preferred equity		508,766			508,008			0.1	%		—			N/M
Common stock		1,284			1,281			0.2	%		1,278			0.5	%
Surplus		1,075,598			1,073,218			0.2	%		1,043,839			3.0	%
Retained earnings		1,287,687			1,293,941			(0.5	%)		1,318,573			(2.3	%)
Accumulated other comprehensive income		23,931			55			N/M			20,131			18.9	%
Treasury stock		(97	)		—			N/M			(1,403	)		(93.1	%)
Total stockholders’ equity		2,897,169			2,876,503			0.7	%		2,382,418			21.6	%
Total liabilities and stockholders’ equity	$	24,349,725		$	24,192,067			0.7	%	$	21,903,753			11.2	%

N/M = Not meaningful.

Consolidated Statements of Income (Unaudited)
Associated Banc-Corp

	For The Three Months Ended
	March 31,						Quarter
(in thousands, except per share amounts)	2009			2008			% Change
Interest Income
Interest and fees on loans	$	202,025		$	255,053			(20.8	%)
Interest and dividends on investment securities and deposits in other financial institutions:
Taxable		50,903			31,352			62.4	%
Tax-exempt		9,494			10,259			(7.5	%)
Interest on federal funds sold and securities purchased under agreements to resell		63			206			(69.4	%)
Total interest income		262,485			296,870			(11.6	%)
Interest Expense
Interest on deposits		46,599			81,506			(42.8	%)
Interest on short-term borrowings		5,154			28,173			(81.7	%)
Interest on long-term funding		21,454			22,074			(2.8	%)
Total interest expense		73,207			131,753			(44.4	%)
Net Interest Income		189,278			165,117			14.6	%
Provision for loan losses		105,424			23,002			358.3	%
Net interest income after provision for loan losses		83,854			142,115			(41.0	%)
Noninterest Income
Trust service fees		8,477			10,074			(15.9	%)
Service charges on deposit accounts		27,205			23,684			14.9	%
Card-based and other nondeposit fees		10,174			11,425			(10.9	%)
Retail commissions		15,512			16,115			(3.7	%)
Mortgage banking, net		4,267			6,945			(38.6	%)
Bank owned life insurance income		5,772			4,861			18.7	%
Asset sale losses, net		(1,107	)		(456	)		142.8	%
Investment securities gains (losses), net		10,596			(2,940	)		N/M
Other		8,081			12,920			(37.5	%)
Total noninterest income		88,977			82,628			7.7	%
Noninterest Expense
Personnel expense		77,098			75,643			1.9	%
Occupancy		12,881			13,264			(2.9	%)
Equipment		4,589			4,597			(0.2	%)
Data processing		7,597			7,121			6.7	%
Business development and advertising		4,737			5,041			(6.0	%)
Other intangible amortization		1,386			1,569			(11.7	%)
Legal and professional fees		4,241			2,773			52.9	%
Foreclosure/OREO expense		5,013			1,969			154.6	%
FDIC expense		5,775			406			N/M
Other		17,947			23,929			(25.0	%)
Total noninterest expense		141,264			136,312			3.6	%
Income before income taxes		31,567			88,431			(64.3	%)
Income tax expense (benefit)		(11,158	)		21,966			(150.8	%)
Net income		42,725			66,465			(35.7	%)
Preferred stock dividends and discount		7,321			—			N/M
Net income available to common equity	$	35,404		$	66,465			(46.7	%)
Earnings Per Common Share:
Basic	$	0.28		$	0.52			(46.2	%)
Diluted	$	0.28		$	0.52			(46.2	%)
Average Common Shares Outstanding:
Basic		127,839			127,298			0.4	%
Diluted		127,848			127,825			0.0	%

N/M = Not meaningful.

Consolidated Statements of Income (Unaudited) — Quarterly Trend
Associated Banc-Corp

(in thousands, except per share amounts)	1Q09			4Q08			3Q08			2Q08			1Q08
Interest Income
Interest and fees on loans	$	202,025		$	230,872		$	229,001		$	237,727		$	255,053
Interest and dividends on investment securities and deposits in other financial institutions:
Taxable		50,903			38,032			32,209			31,878			31,352
Tax-exempt		9,494			9,811			9,887			9,776			10,259
Interest on federal funds sold and securities purchased under agreements to resell		63			154			279			213			206
Total interest income		262,485			278,869			271,376			279,594			296,870
Interest Expense
Interest on deposits		46,599			56,402			61,743			63,655			81,506
Interest on short-term borrowings		5,154			10,090			23,958			24,363			28,173
Interest on long-term funding		21,454			20,595			19,158			18,844			22,074
Total interest expense		73,207			87,087			104,859			106,862			131,753
Net Interest Income		189,278			191,782			166,517			172,732			165,117
Provision for loan losses		105,424			65,044			55,011			59,001			23,002
Net interest income after provision for loan losses		83,854			126,738			111,506			113,731			142,115
Noninterest Income
Trust service fees		8,477			8,248			10,020			10,078			10,074
Service charges on deposit accounts		27,205			30,946			33,609			30,129			23,684
Card-based and other nondeposit fees		10,174			12,297			12,517			12,301			11,425
Retail commissions		15,512			15,541			14,928			16,004			16,115
Total core fee-based revenue		61,368			67,032			71,074			68,512			61,298
Mortgage banking, net		4,267			(1,227	)		3,571			5,395			6,945
Bank owned life insurance income		5,772			4,711			5,235			4,997			4,861
Asset sale gains (losses), net		(1,107	)		(1,054	)		573			(731	)		(456	)
Investment securities gains (losses), net		10,596			(35,298	)		(13,585	)		(718	)		(2,940	)
Other		8,081			6,910			8,455			9,170			12,920
Total noninterest income		88,977			41,074			75,323			86,625			82,628
Noninterest Expense
Personnel expense		77,098			77,374			78,395			78,066			75,643
Occupancy		12,881			13,134			12,037			12,026			13,264
Equipment		4,589			4,785			5,088			4,653			4,597
Data processing		7,597			7,446			7,634			8,250			7,121
Business development and advertising		4,737			6,047			5,175			5,137			5,041
Other intangible amortization		1,386			1,564			1,568			1,568			1,569
Legal and professional fees		4,241			5,311			3,538			2,944			2,773
Foreclosure/OREO expense		5,013			6,716			2,427			2,573			1,969
FDIC expense		5,775			930			791			397			406
Other		17,947			25,443			19,924			20,207			23,929
Total noninterest expense		141,264			148,750			136,577			135,821			136,312
Income before income taxes		31,567			19,062			50,252			64,535			88,431
Income tax expense (benefit)		(11,158	)		2,203			12,483			17,176			21,966
Net income		42,725			16,859			37,769			47,359			66,465
Preferred stock dividends and discount		7,321			3,250			—			—			—
Net income available to common equity	$	35,404		$	13,609		$	37,769		$	47,359		$	66,465
Earnings Per Common Share:
Basic	$	0.28		$	0.11		$	0.30		$	0.37		$	0.52
Diluted	$	0.28		$	0.11		$	0.30		$	0.37		$	0.52
Average Common Shares Outstanding:
Basic		127,839			127,717			127,553			127,433			127,298
Diluted		127,848			127,944			127,711			127,964			127,825

Selected Quarterly Information
Associated Banc-Corp

(in thousands, except per share and full time equivalent employee data)	1st Qtr 2009			4th Qtr 2008			3rd Qtr 2008			2nd Qtr 2008			1st Qtr 2008
Summary of Operations
Net interest income	$	189,278		$	191,782		$	166,517		$	172,732		$	165,117
Provision for loan losses		105,424			65,044			55,011			59,001			23,002
Asset sale gains (losses), net		(1,107	)		(1,054	)		573			(731	)		(456	)
Investment securities gains (losses), net		10,596			(35,298	)		(13,585	)		(718	)		(2,940	)
Noninterest income (excluding securities & asset gains)		79,488			77,426			88,335			88,074			86,024
Noninterest expense		141,264			148,750			136,577			135,821			136,312
Income before income taxes		31,567			19,062			50,252			64,535			88,431
Income tax expense (benefit)		(11,158	)		2,203			12,483			17,176			21,966
Net income		42,725			16,859			37,769			47,359			66,465
Net income available to common equity		35,404			13,609			37,769			47,359			66,465
Taxable equivalent adjustment		6,544			6,902			6,899			6,814			7,096
Per Common Share Data
Net income:
Basic	$	0.28		$	0.11		$	0.30		$	0.37		$	0.52
Diluted		0.28			0.11			0.30			0.37			0.52
Dividends		0.32			0.32			0.32			0.32			0.31
Market Value:
High	$	21.39		$	24.21		$	25.92		$	29.23		$	28.86
Low		10.60			15.72			14.85			19.29			22.60
Close		15.45			20.93			19.95			19.29			26.63
Book value		18.68			18.54			18.52			18.46			18.71
Performance Ratios (annualized)
Earning assets yield		4.94	%		5.57	%		5.58	%		5.82	%		6.33	%
Interest-bearing liabilities rate		1.61			2.00			2.44			2.53			3.19
Net interest margin		3.59			3.88			3.48			3.65			3.58
Return on average assets		0.71			0.30			0.68			0.87			1.25
Return on average equity		5.98			2.58			6.38			8.01			11.34
Return on average tangible common equity (1)		10.05			3.83			10.83			13.51			19.26
Efficiency ratio (2)		51.31			53.87			52.18			50.75			52.79
Effective tax rate		(35.35	)		11.56			24.84			26.61			24.84
Dividend payout ratio (3)		114.29			290.91			106.67			86.49			59.62
Average Balances
Assets	$	24,255,783		$	22,646,421		$	22,072,948		$	21,975,451		$	21,449,963
Earning assets		21,959,077			20,436,483			19,884,434			19,754,651			19,276,208
Interest-bearing liabilities		18,457,879			17,363,481			17,107,551			16,992,508			16,611,047
Loans		16,430,347			16,285,881			16,203,717			16,120,732			15,708,321
Deposits		15,045,976			14,395,626			13,710,297			13,493,511			13,643,559
Wholesale funding		6,098,266			5,496,248			5,876,051			5,950,699			5,293,797
Common stockholders’ equity		2,391,325			2,376,639			2,353,606			2,377,841			2,357,757
Stockholders’ equity		2,899,603			2,602,917			2,353,606			2,377,841			2,357,757
Common stockholders’ equity/assets		9.86	%		10.49	%		10.66	%		10.82	%		10.99	%
Stockholders’ equity / assets		11.95	%		11.49	%		10.66	%		10.82	%		10.99	%
At Period End
Assets	$	24,349,725		$	24,192,067		$	22,487,394		$	22,302,704		$	21,903,753
Loans		15,917,952			16,283,908			16,272,487			16,149,327			15,785,283
Allowance for loan losses		313,228			265,378			246,189			229,605			207,602
Goodwill		929,168			929,168			929,168			929,168			929,168
Mortgage servicing rights, net		39,754			45,568			53,977			54,725			51,013
Other intangible assets		33,211			34,597			36,161			37,896			39,464
Deposits		15,873,189			15,154,796			14,245,667			13,378,734			13,882,174
Wholesale funding		5,326,734			5,565,583			5,667,737			6,359,811			5,388,923
Stockholders’ equity		2,897,169			2,876,503			2,364,247			2,353,882			2,382,418
Stockholders’ equity / assets		11.90	%		11.89	%		10.51	%		10.55	%		10.88	%
Tangible common equity / tangible assets (4)		6.10	%		6.05	%		6.50	%		6.50	%		6.75	%
Tangible equity/tangible assets (5)		8.27	%		8.23	%		6.50	%		6.50	%		6.75	%
Shares outstanding, end of period		127,860			127,762			127,646			127,537			127,365
Selected trend information
Average full time equivalent employees		5,143			5,109			5,141			5,179			5,093
Trust assets under management, at market value	$	4,800,000		$	5,100,000		$	5,600,000		$	5,900,000		$	6,000,000
Mortgage loans originated for sale during period		1,079,732			247,465			217,993			431,757			516,780
Mortgage portfolio serviced for others		6,582,000			6,606,000			6,596,000			6,584,000			6,472,000
Mortgage servicing rights, net / Portfolio serviced for others		0.60	%		0.69	%		0.82	%		0.83	%		0.79	%

(1)	Return on average tangible common equity = Net income available to common equity divided by average common equity excluding average goodwill and other intangible assets. This is a non-GAAP financial measure.
(2)	Efficiency ratio = Noninterest expense divided by sum of taxable equivalent net interest income plus noninterest income, excluding investment securities gains, net, and asset sales gains, net.
(3)	Ratio is based upon basic earnings per common share.
(4)	Tangible common equity to tangible assets = Common stockholders’ equity excluding goodwill and other intangible assets divided by assets excluding goodwill and other intangible assets. This is a non-GAAP financial measure.
(5)	Tangible equity to tangible assets = Stockholders’ equity excluding goodwill and other intangible assets divided by assets excluding goodwill and other intangible assets. This is a non-GAAP financial measure.

Financial Summary and Comparison
Associated Banc-Corp

	Three months ended
	March 31,
(in thousands)	2009			2008			% Change
Allowance for Loan Losses
Beginning balance	$	265,378		$	200,570			32.3	%
Provision for loan losses		105,424			23,002			358.3	%
Charge offs		(60,174	)		(19,494	)		208.7	%
Recoveries		2,600			3,524			(26.2	%)
Net charge offs		(57,574	)		(15,970	)		260.5	%
Ending balance	$	313,228		$	207,602			50.9	%

Credit Quality

							Mar09 vs Dec08												Mar09 vs Mar08
	Mar 31, 2009			Dec 31, 2008			% Change			Sept 30, 2008			Jun 30, 2008			Mar 31, 2008			% Change
Nonaccrual loans	$	433,246		$	326,857			32.5	%	$	290,039		$	277,100		$	197,498			119.4	%
Loans 90 or more days past due and still accruing		16,002			13,811			15.9	%		14,631			11,762			9,959			60.7	%
Restructured loans		2,927			—			N/M			—			—			—			N/M
Total nonperforming loans		452,175			340,668			32.7	%		304,670			288,862			207,457			118.0	%
Other real estate owned (OREO)		54,883			48,710			12.7	%		46,473			46,579			26,798			104.8	%
Total nonperforming assets	$	507,058		$	389,378			30.2	%	$	351,143		$	335,441		$	234,255			116.5	%
Provision for loan losses		105,424			65,044			62.1	%		55,011			59,001			23,002			358.3	%
Net charge offs		57,574			45,855			25.6	%		38,427			36,998			15,970			260.5	%
Allowance for loan losses / loans		1.97	%		1.63	%					1.51	%		1.42	%		1.32	%
Allowance for loan losses / nonperforming loans		69.27			77.90						80.81			79.49			100.07
Nonperforming loans / total loans		2.84			2.09						1.87			1.79			1.31
Nonperforming assets / total loans plus OREO		3.17			2.38						2.15			2.07			1.48
Nonperforming assets / total assets		2.08			1.61						1.56			1.50			1.07
Net charge offs / average loans (annualized)		1.42			1.12						0.94			0.92			0.41
Year-to-date net charge offs / average loans		1.42			0.85						0.76			0.67			0.41
Nonperforming loans by type:
Commercial, financial & agricultural	$	102,257		$	104,664			(2.3	%)	$	85,995		$	78,731		$	54,919			86.2	%
Commercial real estate		100,838			62,423			61.5	%		52,875			42,280			37,367			169.9	%
Real estate — construction		152,008			90,048			68.8	%		98,205			110,717			56,456			169.3	%
Lease financing		1,707			187			812.8	%		83			522			1,316			29.7	%
Total commercial		356,810			257,322			38.7	%		237,158			232,250			150,058			137.8	%
Home equity		35,224			31,035			13.5	%		25,372			23,555			18,488			90.5	%
Installment		6,755			7,155			(5.6	%)		6,035			5,184			4,184			61.4	%
Total retail		41,979			38,190			9.9	%		31,407			28,739			22,672			85.2	%
Residential mortgage		53,386			45,156			18.2	%		36,105			27,873			34,727			53.7	%
Total nonperforming loans	$	452,175		$	340,668			32.7	%	$	304,670		$	288,862		$	207,457			118.0	%

Period End Loan Composition

					Mar09 vs Dec08									Mar09 vs Mar08
	Mar 31, 2009		Dec 31, 2008		% Change			Sept 30, 2008		Jun 30, 2008		Mar 31, 2008		% Change
Commercial, financial & agricultural	$	4,160,274	$	4,388,691		(5.2	%)	$	4,343,208	$	4,423,192	$	4,458,639		(6.7	%)
Commercial real estate		3,575,301		3,566,551		0.2	%		3,534,791		3,583,877		3,585,779		(0.3	%)
Real estate — construction		2,228,090		2,260,888		(1.5	%)		2,363,116		2,351,401		2,273,125		(2.0	%)
Lease financing		116,100		122,113		(4.9	%)		125,907		124,661		118,613		(2.1	%)
Total commercial		10,079,765		10,338,243		(2.5	%)		10,367,022		10,483,131		10,436,156		(3.4	%)
Home equity		2,784,248		2,883,317		(3.4	%)		2,892,952		2,757,684		2,387,223		16.6	%
Installment		853,214		827,303		3.1	%		842,741		826,895		842,564		1.3	%
Total retail		3,637,462		3,710,620		(2.0	%)		3,735,693		3,584,579		3,229,787		12.6	%
Residential mortgage		2,200,725		2,235,045		(1.5	%)		2,169,772		2,081,617		2,119,340		3.8	%
Total loans	$	15,917,952	$	16,283,908		(2.2	%)	$	16,272,487	$	16,149,327	$	15,785,283		0.8	%

Period End Deposit Composition

					Mar09 vs Dec08									Mar09 vs Mar08
	Mar 31, 2009		Dec 31, 2008		% Change			Sept 30, 2008		Jun 30, 2008		Mar 31, 2008		% Change
Demand	$	2,818,088	$	2,814,079		0.1	%	$	2,545,779	$	2,602,026	$	2,516,265		12.0	%
Savings		895,310		841,129		6.4	%		888,731		921,000		891,806		0.4	%
Interest-bearing demand		1,796,724		1,796,405		0.0	%		1,667,640		1,697,910		1,788,404		0.5	%
Money market		5,410,095		4,926,088		9.8	%		4,608,686		3,917,505		3,972,080		36.2	%
Brokered CDs		922,491		789,536		16.8	%		579,607		398,423		731,398		26.1	%
Other time deposits		4,030,481		3,987,559		1.1	%		3,955,224		3,841,870		3,982,221		1.2	%
Total deposits	$	15,873,189	$	15,154,796		4.7	%	$	14,245,667	$	13,378,734	$	13,882,174		14.3	%
Network transaction deposits included above in interest-bearing demand and money market	$	1,759,656	$	1,530,675		15.0	%	$	1,356,616	$	620,440	$	610,351		188.3	%
Customer repo sweeps (a)	$	333,706	$	505,788		(34.0	%)	$	657,032	$	667,720	$	789,218		(57.7	%)

(a) Included within short-term borrowings.

N/M — Not meaningful.

	Three months ended March 31, 2009							Three months ended March 31, 2008
	Average		Interest		Average			Average		Interest		Average
	Balance		Income / Expense		Yield / Rate			Balance		Income / Expense		Yield / Rate
Earning assets:
Loans: (1) (2) (3)
Commercial	$	10,227,260	$	116,664		4.62	%	$	10,323,280	$	164,725		6.41	%
Residential mortgage		2,499,853		33,868		5.44			2,236,275		33,795		6.06
Retail		3,703,234		52,340		5.71			3,148,766		57,474		7.32
Total loans		16,430,347		202,872		4.99			15,708,321		255,994		6.55
Investments and other (1)		5,528,730		66,157		4.79			3,567,887		47,972		5.38
Total earning assets		21,959,077		269,029		4.94			19,276,208		303,966		6.33
Other assets, net		2,296,706							2,173,755
Total assets	$	24,255,783						$	21,449,963
Interest-bearing liabilities:
Savings deposits	$	857,111	$	322		0.15	%	$	860,836	$	1,082		0.51	%
Interest-bearing demand deposits		1,699,989		829		0.20			1,808,187		5,991		1.33
Money market deposits		4,945,174		11,566		0.95			3,974,406		24,454		2.47
Time deposits, excluding Brokered CDs		3,993,154		30,056		3.05			4,043,280		43,741		4.35
Total interest-bearing deposits, excluding Brokered CDs		11,495,428		42,773		1.51			10,686,709		75,268		2.83
Brokered CDs		864,185		3,826		1.80			630,541		6,238		3.98
Total interest-bearing deposits		12,359,613		46,599		1.53			11,317,250		81,506		2.90
Wholesale funding		6,098,266		26,608		1.76			5,293,797		50,247		3.81
Total interest-bearing liabilities		18,457,879		73,207		1.61			16,611,047		131,753		3.19
Noninterest-bearing demand deposits		2,686,363							2,326,309
Other liabilities		211,938							154,850
Stockholders’ equity		2,899,603							2,357,757
Total liabilities and stockholders’ equity	$	24,255,783						$	21,449,963
Net interest income and rate spread (1)			$	195,822		3.33	%			$	172,213		3.14	%
Net interest margin (1)						3.59	%						3.58	%
Taxable equivalent adjustment			$	6,544						$	7,096

(1)	The yield on tax exempt loans and securities is computed on a taxable equivalent basis using a tax rate of 35% for all periods presented and is net of the effects of certain disallowed interest deductions.
(2)	Nonaccrual loans and loans held for sale have been included in the average balances.
(3)	Interest income includes net loan fees.