The only chief financial officer in Associated Banc-Corp's history is stepping down later this year after 39 years with the Green Bay, Wis., Company.

The $22 billion-asset Associated (ASBC) announced late Friday that Joe Selner will retire this summer and will be replaced by Deputy CFO Christopher Del Moral-Niles.

Selner, 65, joined Associated in 1973 as an internal audit manager and was named the company's first CFO in 1983, shortly before Associated went public. Since then he has overseen the company's finance, treasury and reporting functions, helped guide it through a series of acquisitions and, more recently, helped restore it to health after it suffered steep losses on real estate loans.

Niles joined Associated in 2010 as corporate treasurer and in July 2011 he was promoted to deputy treasurer and named to Associated's executive committee. He had previously been a divisional president at First American Trust in Santa Ana, Calif., and before that was a senior vice president at Union Bank of California in San Francisco.

Associated President and Chief Executive Philip B. Flynn said in a news release that the company had been grooming Niles to replace Selner. "We have been working with Joe and Chris since last July to ensure a smooth transition and I am confident that Chris will build upon the strong foundations Joe has laid to advance our financial transparency and value management objectives," Flynn said.

Selner will remain a member of Associated's executive committee until he retires.

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