Associated Bank Sees New Hires Driving Commercial Growth
Green Bay, Wisconsin – May 5, 2025 – In a strategic move to bolster its commercial banking sector, Associated Bank has recently expanded its team with new hires from U.S. Bank, aiming to strengthen its position in the competitive financial landscape. As part of this growth initiative, the bank has appointed three seasoned relationship managers to its commercial banking team in Kansas City, Missouri. With their extensive experience, the new team members are poised to make significant contributions to the bank’s commercial segment.
Strategic Expansion Amid Economic Challenges
Phil Trier, head of corporate and commercial banking at Associated Bank, emphasized the importance of talent in driving the bank’s success despite economic uncertainty. “I knew all three of them very well from my predecessor bank, and how talented they are, and really excited about the impact they’re already making in a relatively short period of time,” Trier noted regarding the new hires.
The three bankers, tasked with covering key regions in Kansas, Oklahoma, and Texas, reflect a broader strategy within Associated Bank, which has welcomed 25 relationship managers to its commercial division over the past two years. These hires hail from a mix of large national, regional, and community banks, and are seen as vital to the bank’s long-term growth objectives.
Diversifying and Enhancing Services
Associated Bank’s recent investments aim to diversify its services, transitioning from a primary focus on lower-yield consumer mortgages toward expanding its commercial banking operations. Trier explained that enhancing the bank’s offerings to commercial customers is essential for boosting profitability. He stated, “Talent is going to lead where we go and help drive those decisions.” The bank’s corporate and commercial segment caters to businesses with revenues exceeding $25 million, incorporating specialty services such as equipment finance and treasury management.
Under Trier’s leadership, the bank has introduced a new deposit-centric vertical targeting title and escrow companies, property management firms, and fintech businesses, further diversifying its service offerings. Rick Bruhn, another U.S. Bank veteran, was brought on board to spearhead this national initiative.
Focusing on Execution and Market Penetration
While Associated Bank is optimistic about its strategic initiatives, it remains focused on execution and solidifying its presence in both established and new markets. The bank seeks to balance its growth between core markets such as Chicago, Milwaukee, and the Twin Cities while also exploring opportunities in emerging regions. “We can move at the speed that our customers want us to,” Trier remarked, highlighting the bank’s adaptability and commitment to local service.
As Associated Bank shifts its focus, commercial and business lending has shown positive growth, reaching $12 billion in total lending during the first quarter, which marks a year-over-year increase of $1.1 billion. The bank projects a growth of $1.2 billion in commercial and industrial loans for 2025, reflecting its confidence in capturing market share despite a challenging economic landscape.
Navigating the Current Economic Landscape
The economic environment currently presents challenges for many businesses, characterized by uncertainty and a cautious approach to expansion and acquisitions. Trier noted that this sentiment affects how clients engage with the bank. “It’s really hard for business owners and executives to operate in an environment where they’re uncertain, and oftentimes what that will lead them to do is just to pause,” he said.
Despite these challenges, Trier remains optimistic about the bank’s strategies, stating that the expiration of non-solicitation agreements for new commercial hires in 2026 could open up further opportunities for growth.
In conclusion, Associated Bank’s proactive recruitment and strategic investments signal a commitment to expanding its commercial banking footprint, even in a competitive and uncertain economic environment. With a focus on talent and local relationships, the bank aims to navigate obstacles while enhancing its service offerings and market presence.
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