Green Bay-based Associated Banc-Corp this morning announced it plans to build a new Associated Bank branch at the Drexel Town Square development in Oak Creek.
The 1,804-square-foot Associated Bank branch will be located at 7940 S. Sixth St., off the main entrance on West Drexel Avenue, near restaurant Belair Cantina, in the 85-acre, mixed-use project being developed by Wispark LLC at the southwest corner of Drexel and Howell avenues.
The new branch is less than a mile from Associated Bank’s branch in the Woodman’s grocery store at 8131 S. Howell Ave. That branch will be closed. All five of the employees at the Woodman’s branch will move to the new location, which is expected to open in early fall 2017.
Associated Bank’s design includes a full-service lobby with teller stations, drive-through banking, a 24-hour ATM and digital services.
“We are proud to be part of the exciting Drexel Town Square project, which gives us the opportunity to offer our personal and business customers a convenient location with an enhanced banking experience,” said John Halechko, Associated’s executive vice president and director of branch banking. “This new branch demonstrates our commitment and partnership with this vibrant and expanding community.”
In 2014, U.S. Bank announced plans to install a branch at Drexel Town Square and purchased a lot just south of Water Street Brewery, at Drexel and Howell avenues. A U.S. Bank spokesperson did not reply to a request for information about whether plans for the branch are moving forward. Dan Rosenfeld, a principal for Mid-America Real Estate, said plans are still on for the U.S. Bank branch.
Associated Bank’s new branch is part of a larger retail building being developed by WiRED Properties and Phelan Development, and designed by Rinka Chung Architecture Inc.
“As the master plan architects for Drexel Town Square, we envisioned it as a true mixed-use town center destination,” said Chad Griswold, principal at Rinka Chung Architecture. “With the exciting news of Associated Bank opening on a marquee corner entrance to the town center, residents and visitors will enjoy the convenience of a full-service branch in close proximity to many other amenities.”
Associated Banc-Corp operates about 40 Associated Bank branches in the Milwaukee market. The company has $29 billion in assets and more than 200 branches in Wisconsin, Illinois and Minnesota, as well as commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas.
