Associated Banc-Corp
![]() | |
Type | Public |
---|---|
NYSE: ASB S&P 400 Component | |
Industry | Financial services Regional banks Bank holding company |
Founded | 1861 |
Headquarters | Green Bay, Wisconsin, United States |
Number of locations | Over 220 Branches |
Area served | Wisconsin Illinois Minnesota Missouri Indiana Ohio Michigan Texas |
Key people | John (Jay) B. Williams, Chairman Andy Harmening, President & CEO |
Products | Retail banking Commercial banking Specialized lending Commercial real estate lending Private banking Wealth management Asset management Investment banking |
Number of employees | 4,300 |
Website | www.associatedbank.com |
Associated Banc-Corp is a U.S. regional bank holding company providing retail banking, commercial banking, commercial real estate lending, private banking, and specialized financial services. It is headquartered in Green Bay, Wisconsin, and is the largest bank (by asset size) headquartered in Wisconsin. It has over 220 banking locations serving more than 120 communities throughout Wisconsin, Illinois, and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio, and Texas.
At July 22, 2021, it had $34 billion in assets and is Wisconsin’s largest bank holding company.[1] Associated Bank is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency within the Department of the Treasury. Associated Bank is a member of the Federal Deposit Insurance Corporation, the Federal Reserve Bank of Chicago, and the Federal Home Loan Bank of Chicago. The company has approximately 4,300 employees.[citation needed]
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[2]
- 1998 - Acquired Citizens Bank, NA of Shawano, Wisconsin
- 1999 - Acquired Windsor Bancshares of Minnesota [3]
- 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 [4]
- 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 [5]
- 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[6]
- 2008 - Received $525 Million share of the $700 Billion Troubled Asset Relief Program (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 [7]
- 2011 - Repaid $525 Million share of the $700 Billion Troubled Asset Relief Program (TARP) fund [8]
- 2012 - Redeveloped the Downtown Green Bay Regency building, to create the new Associated Center as its headquarters [9]
- 2013 - Named one of the 100 Most Trustworthy Companies by Forbes.[10]
- 2014 - Joined the New York Stock Exchange and began trading under the ticker "ASB" [11]
- 2015 - Acquired Ahmann & Martin Co., a risk and employee benefits consulting firm [12]
- 2016 - Purchased the 28-story Milwaukee Center office building to allow for future expansion of the company [13]
- 2017 - Acquired Whitnell & Co., a wealth management family services firm [14]
- 2018 - Acquired Bank Mutual of Milwaukee, Wisconsin [15]
- 2018 - Acquired Diversified Insurance Solutions, a Milwaukee based employee benefits insurance agency[16]
- 2018 - Acquired Anderson Insurance & Investment Agency, a Minneapolis based workers compensation insurance agency[17]
- 2019 - Acquired 32 Wisconsin branches from The Huntington National Bank[18]
- 2020 - Acquired the First National Bank of Staunton, Illinois[19]
- 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
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.[citation needed]
Sports sponsorships[]
Associated Bank has been the bank of the Green Bay Packers since 1919.[20] It is a banking partner of the Milwaukee Brewers,[21] the University of Wisconsin-Madison Athletics,[22] and the Minnesota Wild.[23] It is also the bank of the Wisconsin Athletic Hall of Fame.[24]
References[]
- ^ "Large Holding Companies". www.ffiec.gov. Retrieved 2021-05-28.
- ^ "Associated Banc-Corp Sets Merger With First Financial". May 15, 1997. Retrieved June 21, 2016.
- ^ "Associated Banc-Corp buys Minnesota bank". October 1, 1998. Retrieved September 15, 2016.
- ^ "Associated Bank buys Signal Financial". September 10, 2001. Retrieved June 21, 2016.
- ^ "Order Approving the Acquisition of a Savings Association" (PDF) (Press release). Federal Reserve. August 16, 2004. Retrieved March 22, 2016.
- ^ "Company Overview of The First National Bank of Hudson". September 15, 2016. Retrieved September 15, 2016.
- ^ "Associated Banc-Corp raises about $416 mln in offering". January 12, 2010. Retrieved November 2, 2016.
- ^ "Associated Banc-Corp looks to a post-TARP future". September 24, 2011. Retrieved June 21, 2016.
- ^ "Associated Bank Comes Home". City of Green Bay, Wisconsin. March 26, 2012. Archived from the original on March 14, 2017. Retrieved March 21, 2016.
- ^ "Associated Bank named one of the top 100 Most Trustworthy Company's by Forbes" (Press release). Associated Banc-Corp. April 15, 2013. Retrieved April 15, 2013.
- ^ "Associated Bank marks move to New York Stock Exchange". February 24, 2015. Retrieved June 21, 2016.
- ^ Paul Gores (January 16, 2015). "Associated Banc-Corp to buy Minnesota insurance broker". Milwaukee Journal Sentinel. Retrieved March 21, 2016.
- ^ Haisten Willis (April 6, 2016). "Associated Bank Purchases Milwaukee Center for $60.5M". REBusiness Online. Retrieved November 1, 2016.
- ^ "Associated Banc-Corp completes purchase of wealth management family services firm Whitnell & Co". October 3, 2017. Retrieved October 3, 2017.
- ^ "Associated Banc-Corp closes on $482 million deal to acquire Bank Mutual". February 1, 2018. Retrieved February 1, 2018.
- ^ "Associated Banc-Corp to acquire Diversified Insurance Solutions". February 15, 2018. Retrieved May 1, 2019.
- ^ "Associated Banc-Corp completes purchase of Anderson Insurance & Investment Agency, Inc". June 1, 2018. Retrieved May 1, 2019.
- ^ "Associated Banc-Corp to acquire Wisconsin banking operations of The Huntington National Bank". December 11, 2018. Retrieved May 1, 2019.
- ^ "Associated Banc-Corp closes acquisition of First Staunton Bancshares, Inc". February 14, 2020. Retrieved February 20, 2020.
- ^ Paul Gores (September 1, 2015). "Associated Bank signs Packer receivers for marketing campaign". Milwaukee Journal Sentinel. Retrieved March 21, 2016.
- ^ "Milwaukee Brewers and Associated Bank expand partnership" (Press release). Associated Banc-Corp. March 26, 2015. Retrieved March 26, 2015.
- ^ "Associated Bank and UW Athletics Deepen Partnership" (Press release). Associated Banc-Corp. January 19, 2016. Retrieved January 19, 2016.
- ^ "Associated Bank and Minnesota Wild Announce Partnership" (Press release). Minnesota Wild Hockey Club. November 17, 2015. Retrieved March 21, 2016.
- ^ "Associated Bank becomes bank of Wisconsin Athletic Hall of Fame" (Press release). WBTV. February 16, 2016. Retrieved March 22, 2016.
External links[]
- Companies based in Green Bay, Wisconsin
- Banks based in Wisconsin
- American companies established in 1861
- Banks established in 1861
- 1861 establishments in the United States