Associated Bank announces $2.4 billion Community Commitment Plan
April 16, 2018 --
GREEN BAY, Wis., April 16, 2018 /PRNewswire/ -- Associated Bank, N.A. today announced a $2.4 billion Community Commitment Plan (Plan). The Plan, which covers the three years 2018-2020, sets forth the company's commitments to minority communities, low- to moderate-income (LMI) communities, and small businesses in its three state branch footprint of Wisconsin, Illinois and Minnesota. Highlights of Associated's financial commitments under the Plan are:
- $1.4 billion for residential mortgages in minority and LMI neighborhoods
- $600 million for community development loans and investments in minority and LMI neighborhoods
- $425 million for small business loans, including loans in minority and LMI neighborhoods
- $8 million in donations to non-profit organizations that support community development
"At Associated we are committed to investing in our minority and LMI neighborhoods," said Philip B. Flynn, Associated Bank president and CEO. "In addition to our financial commitments, we have developed products specially tailored for minority and LMI communities. Also, Associated's employees are given eight hours of paid time off to volunteer for community service activities. This has resulted in more than 15,000 hours of qualified Community Reinvestment Activities over the past three years."
The Plan was developed in collaboration with the National Community Reinvestment Coalition (NCRC).
"We want to publicly thank NCRC for their assistance in developing our Community Commitment Plan," said Flynn. "NCRC and their member organizations provided us critical information and suggestions in order to better meet the needs of our minority and LMI communities."
The Plan is an extension of a similar plan adopted in 2016. A copy of the Plan can be found at www.associatedbank.com/pdf/CommunityCommitmentPlan.pdf.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $33 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 270 banking locations serving more than 110 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, 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.
Contact: Jennifer Kaminski
Vice President | Public Relations Senior Manager
SOURCE Associated Banc-Corp
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