Associated Bank, Huntington to close 17 branches in merger

East Wells Street location in downtown Milwaukee impacted

The Milwaukee offices of Associated Banc-Corp.

Last updated on May 15th, 2019 at 04:48 pm

A map of the overlapping branches created by Associated Bank.

As Green Bay-based Associated Banc-Corp proceeds with its planned acquisition of the Wisconsin branches of Columbus, Ohio-based Huntington Bancshares Inc., it is seeking approval from regulators to close 17 branches, including one in downtown Milwaukee.

Through the cash transaction, which has a net premium of about $34 million, Associated Bank N.A. would take on about $850 million in deposits, $134 million in loans and 32 Huntington National Bank branches. But 11 of those Huntington branches, as well as six Associated Bank branches, would close when they consolidate their operations.

The FDIC lists 35 Huntington branches in Wisconsin: three in Green Bay, two in Milwaukee, two in Antigo, and one each in Pulaski, Suamico, Appleton, Madison, Superior, Brodhead, Jefferson, Algoma, Darlington, Tomahawk, Kiel, Marinette, Lena, Oconto, Suring, Townsend, Minocqua, Kaukauna, Clear Lake, Stevens Point, Janesville, Boulder Junction, Manitowish Waters, Elkhorn, Menomonee Falls, Wautoma, Oshkosh and Winneconne.

In a map of existing and acquired branches presented by Associated Bank in a slide deck about the transaction, several branches overlap others geographically. Here is a list of the proposed branch consolidations Associated released today:

Huntington consolidating branch Associated receiving branch
121 State Street, Madison 828 E. Washington Ave., Madison
1601 S. Webster St., Green Bay 2001 S. Webster Ave., Green Bay
2101 W. Ninth Ave., Oshkosh 444 N. Sawyer St., Oshkosh
1935 E. Calumet St., Appleton 2175 S. Memorial Drive, Appleton
1035 1st Center Ave., Brodhead 1420 11th Ave., Monroe
17953 Highway 32, Townsend 210 S. Lake Ave., Crandon
301 W. Main St., Lena 134 N. Main St., Oconto Falls
725 E. Main St., Suring 134 N. Main St., Oconto Falls
2300 S. Oneida St., Suite 9, Green Bay 2357 S. Oneida St., Ashwaubenon
N56 W 16949 Ridgewood Drive, Menomonee Falls W156 N 5575 Pilgrim Road, Menomonee Falls
535 E. Wells St., Milwaukee 250 E. Wisconsin Ave., Milwaukee


Associated consolidating branch Associated receiving branch
500 Front St., Spooner 2850 Pioneer Ave., Rice Lake
2502 Shopko Drive, Madison 828 E. Washington Ave., Madison


Associated consolidating branch Huntington receiving branch
830 Pierce Ave., Marinette 2201 Roosevelt Road, Marinette
709 E. Geneva St., Delavan 10 N. Lincoln St., Elkhorn
622 Fremont St., Kiel 514 Fremont St., Kiel
850 N. Wisconsin St., Elkhorn 10 N. Lincoln St., Elkhorn

Associated Banc-Corp is seeking approval for the proposed transaction from the Office of the Comptroller of the Currency. The deal is expected to close in the first half of 2019.

As for the employees working at these branches, Associated did not detail the impact on its workforce.

“There will be opportunities for employees of both organizations to contribute to the franchise over the long-term,” the filing says.

A spokeswoman said the affected employees would have the potential to fill other roles at the company.

“We typically have around 300 job openings at any given time. We hope to fill these with banking professionals already serving our combined customers and communities,” she said.

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Molly Dill, former BizTimes Milwaukee managing editor.

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