GREEN BAY, Wis. – September 4, 2020 – Associated Bank (NYSE: ASB) announced today that it will optimize its branch operations and consolidate 14 branches in Wisconsin. The growing use of digital banking, transaction trends, and proximity to other Associated Bank locations were factors in the decision.
Wisconsin branches being consolidated are Appleton (Memorial Drive), Brown Deer (48th and Brown Deer Road), Clear Lake, Darlington, Kenosha (Pick ‘n Save), Madison (Broadway), Madison (Excelsior), Madison (Varsity), Milwaukee (Third Ward), Minocqua (Chippewa Street), Onalaska (Sand Lake Road), Stanley, Thiensville and Waukesha (Grand Avenue). Coinciding with the consolidations, the company will open a new branch location in Madison on Mineral Point Road.
“We continuously analyze and evolve our delivery model to ensure we are matching the preferences of our customers and their banking patterns,” said David Stein, executive vice president and head of consumer and business banking. “The Associated Bank branch consolidations align with an industry-wide trend, which includes consumer migration to mobile and online banking, a smaller branch footprint and lower frequency of branch walk-in traffic.”
While the consolidations are not specifically in response to COVID-19, the accelerated migration of customers to digital channels since the start of the pandemic is a factor in the current consolidation decisions. Ultimately, the scale and efficiencies gained will position the company to continue to be a source of strength for its customers and communities.
Thiensville and Kenosha customers received notice of the consolidation in June. Customer communications for the remaining branches will take place during the next few weeks in anticipation of a mid-December closing. According to Stein, Associated remains committed to providing these customers with an exceptional banking experience through online banking and mobile banking, other Associated Bank branches, and the company’s Customer Care representatives who are available by phone 24 hours a day, seven days a week.
Associated will work directly with approximately 46 employees at affected branches to review opportunities for other positions within the organization where positions are available.
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ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $36 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 240 banking locations serving more than 120 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.