Associated Bank Welcomes Four Additional Relationship Managers to Support Ongoing Commercial Banking Expansion

Rhea-AI Summary

Associated Banc-Corp (NYSE: ASB) has announced the addition of four senior relationship managers to strengthen its commercial banking team. This hiring initiative is part of the company's multi-year strategic growth plan aimed at expanding commercial capabilities and deepening client relationships across the Midwest. The new hires include: Stacy Quick (Minnesota market), bringing 20+ years of experience from US Bank; Kevin Kopaska (Iowa market) with 25+ years of experience from Wells Fargo; Mike Hauswirth (Minnesota market) with 30+ years of experience from US Bank; and Scott Rothenbush (Specialty Deposit and Payment Solutions) with 30+ years of banking experience from US Bank.

Positive

• Strategic expansion of commercial banking team with four experienced senior hires
• Geographical expansion into key Midwest markets (Minnesota and Iowa)
• Enhancement of specialty services with new Payment Solutions expertise

Negative

• None.

Insights

Market Research Analyst

The strategic hiring of four senior relationship managers with extensive banking experience represents a calculated expansion of Associated Bank's commercial banking capabilities. The addition of professionals from major institutions like US Bank and Wells Fargo indicates a deliberate talent acquisition strategy to penetrate key Midwest markets and strengthen specialized banking services.

The new hires bring significant expertise in diverse areas: Quick's experience with complex portfolios including hedge funds, Kopaska's 25-year track record in middle market banking, Hauswirth's background in credit risk and Rothenbush's specialty in deposit and payment solutions. This strategic talent acquisition suggests Associated Bank is positioning itself for expanded market share in commercial banking, particularly in Minnesota and Iowa markets.

However, while these hires demonstrate organizational growth, the immediate financial impact is likely to be minimal. The expenses associated with senior-level hires will initially pressure operating costs, with revenue generation expected to materialize over the medium to long term as these relationship managers build their portfolios.

GREEN BAY, Wis., Dec. 19, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today announced the addition of four experienced relationship managers to the company's growing commercial banking team. The hiring of Stacy Quick, Kevin Kopaska, Mike Hauswirth and Scott Rothenbush is a continuation of Associated's multi-year strategic growth plan designed to bolster talent in key focus markets, expand commercial capabilities, and deepen relationships with new and existing clients.

"We're thrilled to have Stacy, Kevin, Mike and Scott join our team as we continue to expand our commercial presence throughout the Midwest while holding serve in our legacy markets," said Phil Trier, Executive Vice President and Head of Corporate and Commercial Banking. "All four of these individuals bring unique skill sets and a dedication to developing strong relationships with clients that fits perfectly with what we're building here at Associated."

Stacy Quick is expected to join Associated as Senior Vice President, Relationship Manager in the Minnesota market on December 23. Quick brings more than 20 years of banking experience to Associated. Most recently, she held the position of Senior Vice President – Relationship Manager with US Bank's commercial group in Minneapolis, Minnesota, where she managed a diverse, complex portfolio of regional midsize businesses, including private and public companies, nonprofits, hedge funds, and alternative investment firms. She holds a bachelor's degree in business administration from Minnesota State University.

Kevin Kopaska joined Associated as Senior Vice President, Relationship Manager in the Iowa market on November 15. Kopaska brings more than 25 years of banking experience to Associated. For the last 13 years, he was the Market Credit Leader for Wells Fargo's Middle Market Banking Office in Des Moines, Iowa. Prior to that he was with Bank of America for 19 years. He received his bachelor of arts degree in finance & banking from Buena Vista University. Kopaska will be covering Iowa as part of Associated's Minnesota team.

Mike Hauswirth joined Associated as Senior Vice President, Relationship Manager in the Minnesota market on December 4. Hauswirth brings more than 30 years of banking experience to Associated. Most recently, he held the position of Senior Vice President – Relationship Manager Team Leader for US Bank's commercial group in St. Paul, Minnesota. While at US Bank, Hauswirth also held roles in portfolio management and credit risk. Prior to joining US Bank, he spent 11 years with General Motors Acceptance Corporation in finance roles. He holds a bachelor's degree in accounting from the University of Wisconsin-La Crosse and a master of business administration from the University of Kansas.

Scott Rothenbush joined Associated as Senior Vice President, Relationship Manager on the company's new Specialty Deposit and Payment Solutions team on December 4. Rothenbush brings more than 30 years of banking experience to Associated. Most recently, he held the position of Deposit/Payments Relationship Manager covering the Title/Escrow/1031 and FinTech Industries at US Bank in Dayton, Ohio. He holds a bachelor of science/bachelor of arts degree in marketing/economics from The Ohio State University.

ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $42 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

Media Contact: Andrea Kozek
Senior Manager, Public Relations
920-491-7518

Investor Contact: Ben McCarville
Vice President | Director of Investor Relations
920-491-7059

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SOURCE Associated Banc-Corp

FAQ

What is Associated Bank's (ASB) latest strategic expansion move in December 2024?

Associated Bank hired four senior relationship managers to expand its commercial banking team across Midwest markets, including Stacy Quick, Kevin Kopaska, Mike Hauswirth, and Scott Rothenbush.

Which markets is ASB targeting with its new commercial banking hires?

ASB is targeting the Minnesota and Iowa markets, while also enhancing its Specialty Deposit and Payment Solutions team.

What is the combined banking experience of ASB's new relationship managers?

The four new relationship managers bring a combined total of over 105 years of banking experience to Associated Bank.

How does this hiring align with ASB's strategic growth plan?

The hiring aligns with ASB's multi-year strategic growth plan to bolster talent in key focus markets, expand commercial capabilities, and deepen relationships with clients.

Which major banks did ASB's new relationship managers come from?

The new hires came from US Bank (three managers), Wells Fargo (one manager), with previous experience at institutions like Bank of America and General Motors Acceptance