Associated Banc-Corp (ASB) S-3ASR Automatic shelf registration

Exhibit 12

STATEMENT RE COMPUTATION OF RATIOS

ASSOCIATED BANC-CORP

Computation of the Ratio of Earnings to Fixed Charges

($ in Thousands)

	Nine Months Ended September 30,					Year Ended December 31,
	2011		2010			2010			2009			2008		2007		2006
Earnings:
Income (loss) before income taxes	$	133,397	$	(46,742	)	$	(41,028	)	$	(285,099	)	$	222,280	$	419,194	$	449,779
Earnings and fixed charges, excluding interest on deposits		185,351		7,343			29,240			(186,926	)		394,427		652,437		700,082
Earnings and fixed charges, including interest on deposits		236,145		90,327			135,263			(26,052	)		657,733		1,055,790		1,064,035
Fixed Charges:
Total interest expense	$	99,334	$	134,115		$	172,347		$	255,251		$	430,561	$	631,899	$	609,830
Interest on deposits		50,794		82,984			106,023			160,874			263,306		403,353		363,953
Interest expense component of net rent expense¹		3,414		2,954			3,944			3,796			4,892		4,697		4,426
Fixed charges, excluding interest on deposits		51,954		54,085			70,268			98,173			172,147		233,243		250,303
Fixed charges, including interest on deposits		102,748		137,069			176,291			259,047			435,453		636,596		614,256
Preferred stock dividends and accretion		23,530		22,131			29,531			29,348			3,250		—		—
Fixed charges and preferred dividends, excluding interest on deposits		75,484		76,216			99,799			127,521			175,397		233,243		250,303
Fixed charges and preferred dividends, including interest on deposits		126,278		159,200			205,822			288,395			438,703		636,596		614,256
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends and Accretion:
Excluding interest on deposits		2.46x		0.10x			0.29x			*			2.25x		2.80x		2.80x
Including interest on deposits		1.87x		0.57x			0.66x			*			1.50x		1.66x		1.73x

* Earnings for the reporting period were inadequate to cover total fixed charges by $314 million

1 Assumes 33% allocation of net rent expense as interest expense component