Associated Banc-Corp

Associated Banc-Corp
Company type	Public
Industry	Banking, Financial services
Founded	May 1, 1970; 56 years ago
Headquarters	Green Bay, United States
Area served	Wisconsin, Illinois, Minnesota, Indiana, Michigan, Missouri, New York, Ohio, Texas
Key people	Andy Harmening (President and CEO), John (Jay) B. Williams (Chairman)
Products	Retail banking, commercial banking, commercial real estate lending, private banking, specialized financial services
Number of employees	4200 (2023)
Website	associatedbank.com

Associated Banc-Corp is a regional bank holding company in the United States providing a range of services including retail banking, commercial banking, lending for commercial real estate, private banking, and various specialized financial services. Its headquarters are located in Green Bay, Wisconsin, and it maintains more than 220 branches throughout Wisconsin, Illinois, and Minnesota. Additionally, it operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio, and Texas.

As of October 19, 2023, Associated Banc-Corp managed assets totaling $42 billion, positioning it as the largest bank holding company headquartered in Wisconsin. The institution holds a national charter and is overseen by the Office of the Comptroller of the Currency. It is also affiliated with the Federal Deposit Insurance Corporation, the Federal Reserve Bank of Chicago, and the Federal Home Loan Bank of Chicago. The company employs roughly 4,200 individuals.

History

The formation of Associated Banc-Corp occurred on May 1, 1970, through the merger of three community banks: The First National Bank of Neenah (established 1861), Kellogg Citizens National Bank in Green Bay (founded 1874), and Manitowoc Savings Bank (established 1884).

Significant acquisitions and developments include:

1989–1999 – Growth through acquiring institutions such as Associated De Pere Bank (WI), Farmers State Bank (WI), Wausau Financial, GN Bancorp (IL), Mid-American National Bancorp (IL), Centra Financial (WI), First Financial Corporation (WI), Citizens Bank (WI), and Windsor Bancshares (MN).
Early 2000s – Unified affiliate banks under a single brand across Wisconsin and Illinois; completed purchases of Signal Financial Corp. (MN) and First Federal Capital Bank (WI).
Mid-2000s – Entered the Northern Illinois market; acquired State Financial Services (WI) and First National Bank of Hudson (WI).
2008 – Obtained $525 million from the Troubled Asset Relief Program to reinforce financial stability.
2010 – Secured $435 million via a common stock issuance to support expansion.
2011 – Completed full repayment of TARP funds.
2012 – Renovated the Downtown Green Bay Regency building to serve as its corporate headquarters.
2013 – Earned recognition from Forbes as one of America’s 100 Most Trustworthy Companies.
2014 – Began trading on the New York Stock Exchange under the ticker symbol "ASB."
2015–2018 – Enhanced service capabilities through acquisitions including Ahmann & Martin Co. (risk management and employee benefits), Whitnell & Co. (wealth management), Bank Mutual (Milwaukee-based bank), Diversified Insurance Solutions, and Anderson Insurance & Investment Agency.
2019–2020 – Added 32 Wisconsin branches from The Huntington National Bank and acquired First National Bank of Staunton (IL); leadership shifts saw John (Jay) B. Williams appointed Chairman and Andy Harmening named President and CEO; divested Associated Benefits & Risk Consulting for $266 million.
2022 – Streamlined operations by consolidating multiple branches in Wisconsin and Illinois; introduced its first "micro branch" concept to optimize physical presence.

This timeline illustrates a deliberate strategy centered on regional growth via acquisitions, broadening product and service offerings, key leadership appointments, and efficiency improvements aimed at strengthening market position within the Midwest financial sector.

Subsidiaries

During the 1990s and 2000s, Associated Banc-Corp unified its various affiliated banks under the single entity Associated Bank, N.A., which operates as a fully owned subsidiary. Prominent subsidiaries encompass Associated Trust Company, N.A.; Associated Investment Corp; and Associated Community Development, LLC.

Sports sponsorships

Associated Bank has formed strategic alliances with prominent sports entities such as the Milwaukee Brewers, University of Wisconsin-Madison Athletics, and the Minnesota Wild. Additionally, it holds the distinction of being the official banking partner of the Wisconsin Athletic Hall of Fame, thereby strengthening its brand presence within key regional markets.

Bibliography

External links

Associated Benefits and Risk Consulting