The three-year community commitment will help uplift and
enable customers to succeed across the bank's footprint
GREEN
BAY, Wis., May 15, 2024 /PRNewswire/ --
Associated Banc-Corp (NYSE: ASB) ("Associated") today
announced its $2 billion Community
Commitment Plan ("CCP") that will uphold its dedication to the
communities it supports and empowers. The 2024-2026 CCP marks
Associated's fourth three-year commitment since 2016, which has
resulted in $9 billion contributed to
communities across Wisconsin,
Minnesota and Illinois.
Highlights of the 2024-2026 CCP include:
- $1.006 billion in residential
mortgages and $9 million in down
payment assistance for low-to-moderate-income (LMI) and minority
borrowers and/or majority-minority geographies.
- $377 million in loans to support
small businesses with revenues of $5
million or less, loans less than $5
million in LMI communities and communities of color,
and all Small Business Administration (SBA) loans.
- $600 million in community
development loans and investments to support affordable housing
development, small business growth and lending to nonprofits
that support LMI communities.
- $8 million in Community
Reinvestment Act (CRA)-qualified grants and/or in-kind
donations.
"Our renewed community commitment of $2
billion demonstrates how we help all of our communities grow
and thrive," said Andy Harmening,
President and CEO, Associated Bank. "We are proud to help create
more vibrant, equitable and thriving communities across our
footprint."
"At Associated, we work to uplift our colleagues, customers and
communities by providing sound financial services and resources,
and the giving of our time through colleague volunteerism," said
LaDonna Reed, Director of Community
Accountability, Associated Bank. "By extending our commitment, we
continue to ensure that our LMI communities and communities of
color have access to financial resources that will help them grow
and prosper."
Each year, through the CCP, Associated Bank and the Associated
Bank Foundation donate millions of dollars in charitable grants to
local nonprofit organizations with the majority of that total
supporting community development programs. Areas of focus for
funding include:
- Affordable housing
- Small business development
- Workforce development
- Sustainability
- Racial/social equity
A copy of the 2024-2026 CCP can be found at
https://www.associatedbank.com/pdf/CommunityCommitmentPlan.pdf
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of
$41 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.
Associated Bank Contact: Marilka Velez
Senior Director of Marketing
920-491-7518
marilka.velez@associatedbank.com
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SOURCE Associated Banc-Corp