Associated Bank - M&A Summary and Business Overview

Financial ServicesCompany

Associated Bank M&A Summary

Associated Bank has acquired 14 companies, including 1 in the last 5 years. It has also divested 2 assets.

Associated Bank’s largest acquisition to date was in 1997, when it acquired First Financial for $866M. Associated Bank has acquired in 3 different US states, and 2 countries. The Company’s most targeted sectors include financial services (86%) and insurance (15%).

Associated Bank Business Overview

Where is Associated Bank headquartered?

Associated Bank is headquartered in Green Bay, Wisconsin.

What is Associated Bank’s revenue?

Associated Bank disclosed revenue of 1,097M USD for 2023 and 1,234M USD for 2022.

How many employees does Associated Bank have?

Associated Bank has 4,070 employees.

What sector is Associated Bank in?

Associated Bank is a financial services company.

When was Associated Bank founded?

Associated Bank was founded in 1861.

M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity14
    • M&A Sell Activity2
  • Total Sectors Invested 2
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 3
  • M&A Advisors 7

Associated Bank

Associated Banc-Corp.

433 Main Street,
Green Bay, Wisconsin 54301
United States,
(920) 491-7500
www.associatedbank.com

Associated Bank offers a full range of traditional banking services and a variety of other financial products and services. Associated Bank was incorporated in 1861 and is based in Green Bay, Wisconsin.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 14 - - - - - 14
vol $2.6B $2.6B
Sell (0.4/yr) # - 1 1 - - - 2
  16

Most Recent M&A

Company Date Value Type
Whitnell & Co. 2021-01-05 - Divestiture
Oak Brook, Illinois · www.whitnell.com
Associated Financial Group LLC 2020-05-04 - Divestiture
Minnetonka, Minnesota · www.associatedbrc.com
First Staunton Bancshares, Inc. 2019-07-25 76M USD Merger
Staunton, Illinois · www.fnbstaunton.com
Huntington Bancshares - Wisconsin branch banking operations 2018-12-11 - Divestiture
, Wisconsin
Anderson Insurance & Investment Agency, Inc. 2018-05-01 - Add-on Acquisition
Minneapolis, Minnesota · www.andersonagencyins.com
Diversified Insurance Solutions, Inc. 2018-02-15 - Add-on Acquisition
Brookfield, Wisconsin · www.div-ins.com
Whitnell & Co. 2017-09-08 - Add-on Acquisition
Oak Brook, Illinois · www.whitnell.com
Bank Mutual Corp. 2017-07-20 482M USD Merger
Milwaukee, Wisconsin · www.bankmutualcorp.com
The First National Bank of Hudson 2007-01-17 - Add-on Acquisition
Woodbury, Wisconsin
State Financial Services Corp. 2005-03-21 278M USD Add-on Acquisition
Milwaukee, Wisconsin
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
First Financial Corp. 1997-10-29 Forrest Sherer Insurance, Inc. 2016-04-04 2
Stevens Point, Wisconsin Terre Haute, Indiana · www.forrestsherer.com
First Financial Corp. 1997-10-29 Forest Sherer Insurance, Inc. 2016-04-04 1
Stevens Point, Wisconsin Terre Haute, Indiana

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 12 (86%) 2.6B (100%) 1 (50%) -
Insurance 2 (14%) - 1 (50%) -
Total 14 $2.6B 2 -

By Geo

State/Country Buy Value Sell Value
United States 13 2.6B 2 -
  Wisconsin 7 2.3B - -
  Minnesota 4 291M 1 -
  Illinois 2 76M 1 -
Antigua and Barbuda 1 - - -
  Wisconsin 1 - - -
Domestic 13 (93%) 2.6B (100%) 2 (100%) -
Cross-border 1 (7%) - - -
Total 14 $2.6B 2 -

Top M&A Advisors

Financial Deals
Sandler O'Neill + Partners LP
2
Goldman Sachs
1
Legal Deals
Reinhart Boerner Van Deuren
4
Husch Blackwell LLP
1
Wachtell, Lipton, Rosen & Katz
1

Deal Values

buy # Total
$100M to $1B 5 $2.4B
< $100M 4 $216M
TOTAL $2.6B
Largest First Financial Corp.
$866M (1997-10-29)

M&A Connections

Deals
Acquired from
Strategic(s)
7%
1 (7%)
Divested to
Strategic(s)
100%
2 (100%)

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