Associated Banc-Corp (NASDAQ:ASBC) has been named to Forbes Magazine’s 2013 list of “America’s 100 Most Trustworthy Companies.” The designation recognizes Associated’s dedication to accounting transparency, quality governance, well-managed operations and open, honest communications with various stakeholders.
Forbes, in partnership with financial analytics firm, GMIRATINGS (GMI), assigned quarterly accounting and governance risk scores to more than 8,000 public companies. The 100 companies consisted of large-, mid- and small-cap organizations with low incidences of high-risk events and appropriate board supervision.
“Transparency and trust are at the core of Associated’s operating philosophy, and fostering these principles allows us to continue delivering the value our shareholders, customers, communities, employees and partners expect and deserve,” said Christopher Del Moral-Niles, Chief Financial Officer of Associated Banc-Corp. “On behalf of our nearly 5,000 employees, I thank Forbes and GMI for this recognition.”
Bryan McKeag, Associated’s Corporate Controller, said, “We are dedicated to being an organization which values integrity -- and it’s satisfying to be recognized for remaining steadfast to our values. Our commitment to being a well-run and well-managed financial services company is the foundation for our continued success.”
Associated was the largest of 16 banks named to the 2013 list of “America’s 100 Most Trustworthy Companies,” and the 24th largest company on the list overall. To qualify for the list, companies had to meet specific criteria, including:
- Being an active publicly traded company with a market cap of at least $250 million as of March 2013
- Accounting and governance risk ratings of conservative or average, no amended filings with the SEC, no SEC enforcement actions and no materials restatements during the last four quarters
- Ranking high in GMI's Equity Risk Ranking, which indicates a positive forecast for equity returns
- Maintaining a minimal likelihood of financial distress as measured by GMI's Bankruptcy Risk model