by Joseph Back

Masks may help prevent the spread of COVID-19, but some things aren’t as simple. Associated Bank of Green Bay, Wisconsin announced on its company website Friday, September 4 that it was “consolidating” 14 of its more than 240 Midwest branch locations in over 120 communities as part of a corporate optimization plan. The share price of Associated Bank stock on the NYSE market rose by $2.79 or 38 cents to close at $13.92 on Friday in the wake of the consolidation news.

Along with the branch in Stanley, locations to be consolidated include those in Appleton, Brown Deer, Clear Lake, Darlington, the Pick n’ Save branch in Kenosha, three Madison branches, Milwaukee’s Third Ward branch, Minocqua, Onalaska, Thiensville, and Waukesha. Along with the 14 consolidations will come the opening of a new branch location in Madison on Mineral Point Road.

The corporate “optimization plan” was reported on the bank’s website at www.associatedbank.com to be the result in part of a continued migration by bank customers to digital and online banking options, with a resulting drop in walk-in traffic. A spokesperson for Associated Bank was not available for comment Monday, September 7.

As to continuing employment for branch workers of consolidated Associated Bank locations, a news release a the bank’s website did make known that “Associated will work directly with approximately 46 employees at affected branches to review opportunities for other positions within the organization where positions are available.” The value of Associated Bank assets is listed at $36 billion dollars.

Staff photo.