Associated Bank announces closings

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Green Bay-based Associated Bank announced late last week it will close 20 branch offices by mid spring then confirmed the locations early this week.

A downtown Milwaukee branch is among those scheduled to shut down, along with two in Madison. A third branch in Madison closed Dec. 15 because the store it was in shut its doors.

Other Wisconsin locations that will close include Appleton, Sturgeon Bay, La Crosse, Kimberly, De Pere, Eau Claire, Wausau, Neenah, Wisconsin Rapids, and Manitowoc. Associated said most of the branches slated to close are within two miles of another Associated location. Though most closings are in Wisconsin, the bank will also close branches in Minnesota and Illinois.

Wisconsin’s biggest bank said the closings create better efficiency. Associated reports that it has seen over-the-year revenue slip a little bit, but it still has assets of $22 billion and a total of 270 branches.

About 200 employees are affected, but at least some are expected to get other jobs within the Associated chain, which is based in Green Bay.

Tags: business, wisconsin