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Associated Banc-Corp

#3020

Rank

$4.3B

Marketcap

US United States

Country

Associated Banc-Corp
Leadership team

Mr. Andrew J. Harmening (Pres, CEO & Director)

Mr. Randall J. Erickson (Exec. VP, Gen. Counsel & Corp. Sec.)

Mr. David L. Stein (Exec. VP, Head of Consumer & Bus. Banking and Madison Market Pres)

Products/ Services
Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Green Bay, Wisconsin, United States
Established
1874
Company Registration
SEC CIK number: 0000007789
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
ASB
Social Media
Overview
Location
Summary
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services. Its Corporate and Commercial Specialty segment offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications; deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; specialized financial services such as interest rate risk management, foreign exchange solutions, and commodity hedging; fiduciary services such as administration of pension, profit-sharing and other employee benefit plans, fiduciary and corporate agency services, and institutional asset management; and investable funds solutions such as savings, money market deposit accounts, IRA accounts, CDs, fixed and variable annuities, full-service, discount and online investment brokerage; investment advisory services; and trust and investment management accounts. The company's Community, Consumer, and Business segment offers lending solutions, such as residential mortgages, home equity loans and lines of credit, personal and installment loans, auto loans, business loans, and business lines of credit; and deposit and transactional solutions such as checking, credit, debit and pre-paid cards, online banking and bill pay; and money transfer services. As of December 31, 2021, the company operated 215 banking branches. Associated Banc-Corp was founded in 1861 and is headquartered in Green Bay, Wisconsin.
History

The Associated Banc-Corp holding company was formed on May 1, 1970, when three community banks formed a banking alliance that consolidated into Associated Bank. The three founding community banks were: The First National Bank of Neenah, founded in 1861; Kellogg Citizens National Bank, Green Bay, founded 1874; and Manitowoc Savings Bank, founded in 1884.

1989 – Acquired the Associated De Pere Bank of De Pere, Wisconsin

1991 – Acquired Farmers State Bank of Pound, Wisconsin, and F&M Financial Services

1992 – Acquired Wausau Financial and Northeast Wisconsin Financial Services

1993 – Changed name to Associated Bank, NA of Green Bay, Wisconsin

1993 – Acquired First National Bank of Sturgeon Bay of Sturgeon Bay, Wisconsin

1995 – Acquired GN Bancorp of Illinois

1996 – Acquired Mid-American National Bancorp of Illinois

1997 – Acquired Centra Financial of Wisconsin

1997 – Merged with First Financial Corporation of Stevens Point, Wisconsin

1998 – Acquired Citizens Bank, NA of Shawano, Wisconsin

1999 – Acquired Windsor Bancshares of Minnesota

2001 – Changed name to Associated Bank, NA; merged and re-branded existing affiliate banks in Milwaukee, Wisconsin; Neenah, Wisconsin; Manitowoc, Wisconsin; Wausau, Wisconsin; and Madison, Wisconsin

2002 – Acquired Signal Financial Corp. of Minnesota

2003 – Merged and re-branded affiliates: Associated Card Services Bank in Stevens Point, Wisconsin, and Associated Bank Illinois in Rockford, Illinois

2004 – Acquired First Federal Capital Bank of La Crosse, Wisconsin, expanding into Western and Southwest Wisconsin

2005 – Merged and re-branded affiliate banks in Minneapolis, Minnesota, and in Chicago, Illinois

2005 – Acquired State Financial Services of Hales Corners, Wisconsin, and expanded to Northern Illinois

2007 – Acquired First National Bank of Hudson, Wisconsin

2008 – Received $525 Million share of the $700 Billion Troubled Asset Relief Program fund

2009 – Appointed William R. Hutchinson as Chairman of the Board of Directors and Philip B. Flynn as President and CEO

2010 – Issued $435 million of common stock in an offering to support continued growth

2011 – Repaid $525 Million share of the $700 Billion Troubled Asset Relief Program fund

2012 – Redeveloped the Downtown Green Bay Regency building, to create the new Associated Center as its headquarters

2013 – Named one of the 100 Most Trustworthy Companies by Forbes

2014 – Joined the New York Stock Exchange and began trading under the ticker "ASB"

2015 – Acquired Ahmann & Martin Co., a risk and employee benefits consulting firm

2016 – Purchased the 28-story Milwaukee Center office building to allow for future expansion of the company

2017 – Acquired Whitnell & Co., a wealth management family services firm

2018 – Acquired Bank Mutual of Milwaukee, Wisconsin

2018 – Acquired Diversified Insurance Solutions, a Milwaukee based employee benefits insurance agency

2018 – Acquired Anderson Insurance & Investment Agency, a Minneapolis based workers compensation insurance agency

2019 – Acquired 32 Wisconsin branches from The Huntington National Bank

2020 – Acquired the First National Bank of Staunton, Illinois

2020 – Appointed John B. Williams as Chairman of the Board of Directors

2020 – Sold Associated Benefits & Risk Consulting to USI Insurance Services LLC for $266 million

2021 – Appointed Andy Harmening as President and CEO

2022 – Consolidated 13 branches in Wisconsin and Illinois; announced first "micro branch" ) following new micro office model

Mission
Associated Banc-Corp will be the most admired Midwestern financial services company, distinguished by sound, value-added financial solutions with personal service for our customers, built upon a strong commitment to our colleagues and the communities we serve, resulting in exceptional value for our shareholders.
Vision
Associated Bank will be the Midwest’s premier financial services company, distinguished by consistent, quality customer experiences, built upon a strong commitment to our colleagues and the communities we serve, resulting in exceptional value to our shareholders through economic cycles.
Key Team

Mr. John Anthony Utz (Exec. VP, Head of Corp. Banking & Milwaukee Market Pres)

Mr. Derek S. Meyer (Exec. VP & CFO)

Ms. Tammy C. Stadler (Exec. VP, Corp. Controller & Chief Accounting Officer)

Ben McCarville (VP & Director of Investor Relations)

Mr. Anthony Philip Pecora (Sr. VP, Director of Compliance & Associated Investment Services)

Jennifer Kaminski (VP & PR Sr. Mang.)

Mr. Bryan Carson (Exec. VP, Chief Product & Marketing Officer)

Recognition and Awards
Associated Banc-Corp has been the recipient of numerous awards and distinctions, including being named one of the “Best Banks to Work For” by Bank Director magazine, and one of the “100 Best Corporate Citizens” by Corporate Responsibility magazine.
References
Associated Banc-Corp
Leadership team

Mr. Andrew J. Harmening (Pres, CEO & Director)

Mr. Randall J. Erickson (Exec. VP, Gen. Counsel & Corp. Sec.)

Mr. David L. Stein (Exec. VP, Head of Consumer & Bus. Banking and Madison Market Pres)

Products/ Services
Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Green Bay, Wisconsin, United States
Established
1874
Company Registration
SEC CIK number: 0000007789
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
ASB
Social Media