Associated Banc-Corp is a U.S. regional
bank holding company
A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (''banc''/''bank'' + '' corp ration') is often used to refer to these companies as well.
United States ...
providing
retail banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...
,
commercial banking
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with cor ...
,
commercial real estate
Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office bu ...
lending,
private banking
Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
, and specialized
financial services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...
. Headquartered in Green Bay, Wisconsin, Associated is a Midwest bank with from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas.
At July 26, 2022, it had $38 billion in assets and is the largest bank holding company based in Wisconsin. Associated Bank is a nationally chartered bank, regulated by the
Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all nation ...
within the
Department of the Treasury. Associated Bank is a member of the
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cred ...
, the
Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago (informally the Chicago Fed) is one of twelve regional Reserve Banks that, along with the Federal Reserve Board of Governors, make up the United States' central bank.
The Chicago Reserve Bank serves the Sevent ...
, and the
Federal Home Loan Bank
The Federal Home Loan Banks (FHLBanks, or FHLBank System) are 11 U.S. government-sponsored banks that provide liquidity to the members of financial institutions to support housing finance and community investment.
Overview
The FHLBank System was ...
of Chicago. The company has approximately 4,200 employees.
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
De Pere ( ) is a city located in Brown County, Wisconsin, United States. The population was 25,410 according to the 2020 Census. De Pere is part of the Green Bay Metropolitan Statistical Area.
History
At the arrival of the first European, Je ...
* 1991 – Acquired Farmers State Bank of
Pound, Wisconsin
Pound is a village in Marinette County, Wisconsin, Marinette County, Wisconsin, United States. The population was 377 at the 2010 United States Census, 2010 census. The village is located within the Pound (town), Wisconsin, Town of Pound. Pound is ...
, 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
Sturgeon Bay is a city in and the county seat of Door County, Wisconsin, United States. The population was 9,646 at the 2020 Census. The city is well-known regionally for being the largest city of the Door Peninsula, after which the county is na ...
* 1995 – Acquired GN Bancorp of Illinois
* 1996 – Acquired Mid-American National Bancorp of Illinois
* 1997 – Acquired Centra Financial of
Wisconsin
Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...
* 1997 – Merged with First Financial Corporation of
Stevens Point, Wisconsin
Stevens Point is the county seat of Portage County, Wisconsin, United States. The city was incorporated in 1858.
Its 2020 population of 25,666 makes it the largest city in the county. Stevens Point forms the core of the United States Census Bur ...
* 1998 – Acquired Citizens Bank, NA of
Shawano, Wisconsin
Shawano (pronounced SHAW-no) is a city in Shawano County, Wisconsin, United States. The population was 9,305 at the 2010 census. It is the county seat of Shawano County.
Geography
According to the United States Census Bureau, the city has a tota ...
* 1999 – Acquired Windsor Bancshares of Minnesota
* 2001 – Changed name to Associated Bank, NA; merged and re-branded existing affiliate banks in
Milwaukee, Wisconsin
Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County, Wisconsin, Milwaukee County. With a population of 577,222 at th ...
;
Neenah, Wisconsin
Neenah () is a city in Winnebago County, Wisconsin, in the north central United States. It is situated on the banks of Lake Winnebago, Little Lake Butte des Morts, and the Fox River, approximately forty miles (60 km) southwest of Green ...
;
Manitowoc, Wisconsin
Manitowoc () is a city in and the county seat of Manitowoc County, Wisconsin, United States. The city is located on Lake Michigan at the mouth of the Manitowoc River. According to the 2020 census, Manitowoc had a population of 34,626, with over ...
;
Wausau, Wisconsin
Wausau ( ) is a city in and the county seat of Marathon County, Wisconsin, United States. The Wisconsin River divides the city into east and west. The city's suburbs include Schofield, Weston, Mosinee, Maine, Rib Mountain, Kronenwetter, and ...
; and
Madison, Wisconsin
Madison is the county seat of Dane County and the capital city of the U.S. state of Wisconsin. As of the 2020 census the population was 269,840, making it the second-largest city in Wisconsin by population, after Milwaukee, and the 80th-lar ...
* 2002 – Acquired Signal Financial Corp. of Minnesota
* 2003 – Merged and re-branded affiliates: Associated Card Services Bank in
Stevens Point, Wisconsin
Stevens Point is the county seat of Portage County, Wisconsin, United States. The city was incorporated in 1858.
Its 2020 population of 25,666 makes it the largest city in the county. Stevens Point forms the core of the United States Census Bur ...
, and Associated Bank Illinois in
Rockford, Illinois
Rockford is a city in Winnebago County, Illinois, located in the far northern part of the state. Situated on the banks of the Rock River, Rockford is the county seat of Winnebago County (a small portion of the city is located in Ogle County). ...
* 2004 – Acquired First Federal Capital Bank of
La Crosse, Wisconsin
La Crosse is a city in the U.S. state of Wisconsin and the county seat of La Crosse County. Positioned alongside the Mississippi River, La Crosse is the largest city on Wisconsin's western border. La Crosse's population as of the 2020 census w ...
, expanding into Western and Southwest Wisconsin
* 2005 – Merged and re-branded affiliate banks in
Minneapolis, Minnesota
Minneapolis () is the largest city in Minnesota, United States, and the county seat of Hennepin County. The city is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks and waterfalls. Minneapolis has its origins ...
, and in
Chicago
(''City in a Garden''); I Will
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, coordinates =
, coordinates_footnotes =
, subdivision_type = Country
, subdivision_name ...
,
Illinois
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...
* 2005 – Acquired State Financial Services of
Hales Corners, Wisconsin
Hales Corners is a village in Milwaukee County, Wisconsin, United States. The population was 7,692 at the 2010 census. History
The land in the area that would eventually encompass the Village was first claimed as French, then British, and even ...
, and expanded to Northern Illinois
* 2007 – Acquired First National Bank of
Hudson, Wisconsin
Hudson is a city in St. Croix County, Wisconsin, United States. As of the 2010 United States census, its population was 12,719. It is part of the Minneapolis–St. Paul Metropolitan Statistical Area (MSA). The village of North Hudson is direct ...
* 2008 – Received $525 Million share of the $700 Billion
Troubled Asset Relief Program
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President G ...
(TARP) 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 (TARP) 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 (Jay) B. Williams as Chairman of the Board of Directors
*2020 – Sold Associated Benefits & Risk Consulting (ABRC) to USI Insurance Services LLC (USI) 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
Subsidiaries
During the 1990s and 2000s, Associated Banc-Corp merged all of its affiliated banks into Associated Bank,
N.A., a wholly owned subsidiary.
Subsidiaries of Associated Bank, N.A. include: Associated Trust Company, N.A.; Associated Investment Corp; and Associated Community Development, LLC.
Sports sponsorships
Associated Bank has been the bank of the
Green Bay Packers
The Green Bay Packers are a professional American football team based in Green Bay, Wisconsin. The Packers compete in the National Football League (NFL) as a member club of the National Football Conference (NFC) NFC North, North division. It ...
since 1919. It is a banking partner of the
Milwaukee Brewers
The Milwaukee Brewers are an American professional baseball team based in Milwaukee. They compete in Major League Baseball (MLB) as a member club of the National League (NL) National League Central, Central division. The Brewers are named for t ...
, the
University of Wisconsin-Madison
A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United States, the ...
Athletics, and the
Minnesota Wild
The Minnesota Wild are a professional ice hockey team based in Saint Paul, Minnesota. The Wild competes in the National Hockey League (NHL) as a member of the Central Division in the Western Conference and play their home games at the Xcel Ener ...
. It is also the bank of the
Wisconsin Athletic Hall of Fame
Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michi ...
.
References
Bibliography
*
*
External links
*
Associated Benefits and Risk Consulting
{{Portal, Companies, Banks
Companies based in Green Bay, Wisconsin
Companies listed on the New York Stock Exchange
Banks based in Wisconsin
American companies established in 1861
Banks established in 1861
1861 establishments in Wisconsin