Associated Banc-Corp Closes Acquisition of Signal Financial Corp.Business Editors GREEN BAY, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--Feb. 28, 2002 Associated Banc-Corp Associated Banc-Corp is a bank holding company headquartered in Green Bay, Wisconsin. As of early 2007, it had $20.8 billion in assets and was the 41st largest bank holding company in the United States.[1] The company has over 5101 employees. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ASBC ASBC American Society of Brewing Chemists (St. Paul, MN) ASBC American Small Business Coalition ASBC Air and Space Basic Course (USAF) ASBC Archaeological Society of British Columbia ) has completed its acquisition of Minneapolis-based Signal Financial Corp., elevating Associated's Minnesota presence to $1.8 billion in assets, among 17 branch locations. "Signal and Associated agreed to come together in part because we share a strong community banking philosophy. Signal's experienced, dedicated bankers will continue to be empowered to make decisions as close to the customer as possible. At the same time, the combined company will bring more resources and more value to its customers and its shareholders," Associated President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert C. Gallagher said. This expansion, like other recent acquisitions, provides new opportunities to more effectively use the resources of both Associated and Signal, through expanded customer relationships and broader distribution. Signal is highly complementary to the existing Associated Bank Minnesota, both in terms of its business mix and its geographic fit. Signal provides stable, community-based deposits that support strong loan growth. The Signal customer base enhances opportunities to leverage Associated's skills in retail financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , business banking and wealth management. Both companies are leaders in Small Business Administration lending. The companies expect to realize synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. savings of 15 percent of Signal's non-interest expense, and that the transaction will be non-dilutive to Associated's 2002 earnings. Integration of the Signal and Associated banks in Minnesota will be completed in the second quarter. "We are delighted to welcome Signal's customers, associates and communities to the Associated family. Signal's strong relationships with its customers and communities make us confident that Signal's leadership will approach the delivery of financial services in the same responsive way as Associated, which is built around such long-term customer relationships. That shared philosophy, combined with Associated's broad portfolio of financial services, puts Associated in a strong position to bring more value than ever to our relationships with Minnesota customers, both new and old," Gallagher said. Scott Jones Scott Jones may refer to:
Associated Bank Minnesota was formed following the company's acquisitions of Bank Windsor and Riverside Bank in 1999. The bank and an affiliated company, Associated Commercial Finance, have assets of $750 million. Signal operates Signal Bank Metro, Signal Bank South, Signal Finance and Signal Trust. Signal operates nine bank offices in the Twin Cities area and Southeast Minnesota Southeast Minnesota is the corner of Minnesota south of the Twin Cities metropolitan area extending east, and part of the multi-state area known as the Coulee Region. Rochester is the largest city in the area; other major cities include Winona, Owatonna, Faribault, Northfield, . Signal Finance is a consumer finance company with four offices in Minnesota and one in Wisconsin. Signal Financial Corp. had total assets of $1.1 billion at the time of closing. Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified multibank holding company Noun 1. multibank holding company - a bank holding company owning several banks bank holding company - a holding company owning or controlling one or more banks with total assets of $14.7 billion. Associated has more than 200 banking offices serving more than 150 communities in Wisconsin, Illinois, and Minnesota. The company offers a full range of traditional banking services and a variety of other financial products and services. More information about Associated Banc-Corp is available at www.AssociatedBank.com. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are interest rates, changes in the mix of the company's business, competitive pressures, general economic conditions and the risk factors detailed in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. |
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