In spite of reported continued earnings growth and rising profits, Green Bay’s Associated Bank announced it will close 13 branches later this year, citing the nationwide banking consolidation trend.
Associated Bank did not name the branches targeted for closure or the number of jobs this could cost. The closures will result in a roughly $3 million expense by the end of this year, which the bank expects will translate to net savings from 2016 on out.
Associated’s net income rose to $48 million (31 cents/share) in the second quarter, compared with $45 million (28 cents/share) in the same quarter of 2014.
