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The Wisconsin bank's cautious approach to technology and other innovations says a lot about its overall philosophy. It is treading carefully on Apple Pay, marketplace lending and other cutting-edge items while it is encouraged by its customers' switch to electronic banking.
March 3 -
Associated Banc-Corp in Wisconsin reported a modest increase in quarterly earnings, and its CEO said it is actively seeking acquisition targets.
January 22 -
The Salt Lake City company was a prolific acquirer through the 1990s but has been quiet on the M&A front for several years. It's likely to stay that way in the near term, Chairman and CEO Harris Simmons said.
May 22
Associated Banc-Corp in Green Bay, Wis., agreed to expand mortgage lending in minority neighborhoods to settle a federal probe into its fair-housing loan practices.
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Associated "will fully comply with the agreement," Philip Flynn, chief executive,
HUD had alleged that Associated disproportionately denied loan applications made by black and Hispanic borrowers. The conciliation agreement included a denial by Associated that it engaged in discriminatory lending practices.
Associated said the terms of the agreement will not have a material impact on its financial results.
Associated's new initiatives will include enhanced training, new branch locations, new loan production offices, and expanded financing and home-repair grants. Associated will also invest in increased outreach, financial education and marketing to promote the changes.