Associated Banc-Corp Merges with American National: Transforming Midwest Banking Landscape
- Associated Banc-Corp and American National Corporation finalized a merger on December 1, 2025, reshaping Midwest banking.
- The merger positions Associated as the second-largest bank in Omaha and tenth in Minneapolis/St. Paul by deposit market share.
- Associated aims to enhance customer experience and innovate services through combined resources and technology after the merger.
Associated Banc-Corp's Strategic Merger with American National Corporation: A New Era for Midwest Banking
On December 1, 2025, Associated Banc-Corp and American National Corporation finalize a significant merger agreement that will reshape the banking landscape in the Midwest. This merger will see American National, along with its subsidiary American National Bank, merge into Associated Bank, N.A. Both institutions have a rich history in the region, with Associated established in 1861 and American National in 1856. By joining forces, the two banks aim to leverage their collective strengths to enhance service delivery and expand their reach across Wisconsin, Illinois, Minnesota, Iowa, and Nebraska.
The merger positions Associated Banc-Corp as a formidable player in the Omaha metropolitan area, ranking as the second-largest bank by deposit market share. It also secures the tenth position in the Minneapolis/St. Paul area, broadening its influence in key markets that are vital for growth. As of September 30, 2025, American National reported substantial assets of $5.3 billion, with loans and deposits of $3.8 billion and $4.7 billion, respectively. This merger will not only bring additional resources and capabilities to Associated Bank but will also create an opportunity to deepen relationships with clients in the Twin Cities and establish a new foothold in Omaha.
Andy Harmening, President & CEO of Associated Banc-Corp, expresses enthusiasm about the merger's potential, emphasizing alignment with the company's growth strategy and commitment to community engagement. He highlights the cultural similarities and the shared dedication to client service that both banks embody. Leaders from American National echo this sentiment, noting their long-standing commitment to client and community growth. The merger is perceived as both financially attractive and strategically beneficial, promising a robust and customer-centric banking experience for an expanded clientele across the Midwest.
In addition to enhancing its market position, the merger is expected to drive innovation in services offered to customers. By combining resources and expertise, Associated aims to introduce new products and improve technological capabilities, thereby meeting the evolving needs of clients in a competitive banking environment. This merger reflects a broader trend in the financial industry, where consolidation is becoming increasingly common as banks seek to enhance their service offerings and operational efficiencies.
The integration of American National’s operations into Associated Bank is poised to further enrich the customer experience. With nearly 200 branches currently in operation, the expanded footprint will allow Associated to deliver more personalized banking services while maintaining a strong focus on community involvement and local decision-making. This strategic partnership is a testament to the evolving landscape of banking in the Midwest, where cooperation and growth are at the forefront of the industry’s future.
