Green Bay-based Associated Bank announced today that it plans to close 14 of its branches in Wisconsin, including 5 locations in southeastern Wisconsin.
The southeastern Wisconsin Associated Bank branch locations that will be closed are in Milwaukee's Historic Third Ward, downtown Waukesha, Kenosha, Brown Deer and Thiensville.
The Associated Bank branch locations that will be closed include these locations:
Appleton, 2175 S. Memorial Drive
Brown Deer, 4801 W. Brown Deer Road
Clear Lake, 327 3rd Ave.
Darlington, 207 Wells St.
Kenosha, 2811 18th St.
Madison, 1574 W. Broadway
Madison, 8040 Excelsior Drive
Madison, 640 University Ave.
Milwaukee, 102 N. Water St., Suite 101 (Historic Third Ward)
Minocqua, 625 Chippewa St.
Onalaska, 127 Sand Lake Road
Stanley, 118 N. Broadway St.
Thiensville, 208 N. Main St.
Waukesha, 704 N. Grand Ave.
The growing use of digital banking, transaction trends, and proximity to other Associated Bank locations were factors in the decision to close the branches, the company said.
“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.”
The branch closures are not specifically in response to COVID-19, but the accelerated migration of customers to digital channels since the start of the pandemic is a factor, the company said.
"Ultimately, the scale and efficiencies gained will position the company to continue to be a source of strength for its customers and communities," Associated Bank said in a news release.
The company said it will "work directly with approximately 46 employees at affected branches to review opportunities for other positions within the organization where positions are available."
Associated Bank has more than 240 banking locations in Wisconsin, Illinois and Minnesota. After acquiring Bank Mutual in 2018, Associated Bank closed 36 bank branches, including 28 Bank Mutual locations and 8 Associated Bank locations.
The Associated Bank location at 4801 W. Brown Deer Road in Brown Deer and the Thiensville branch at 208 N. Main St. were Bank Mutual branches prior to the acquisition by Associated Bank.
Associated Bank's Third Ward branch opened in 2015.
Below are images from Google of the five southeastern Wisconsin branches that will be closed.