By Kevin Haas
Rock River Current
Get our mobile app
ROCKFORD — Associated Bank plans to close its Rockton Avenue branch later this year as it consolidates seven branches in Wisconsin and six in Illinois.
The branch at 3333 N. Rockton Ave. will be consolidated with the downtown branch at 612 N. Main St.
“The consolidations align with an industry-wide trend, which includes consumers adaption to digital banking, a smaller branch footprint and lower frequency of walk-in traffic,” Jennifer Kaminski, public relations senior manager for the Wisconsin-based bank, said in an email to the Rock River Current. “Associated will work with impacted colleagues to find a new role within the company, where positions are available.”
Bank news: Less is more in Midland States Bank’s renovation to its Highcrest Road branch in Rockford
The branches will close on Nov. 18.
“The analysis of branch locations, their transaction trends and strategic fit, is an ongoing process at Associated and throughout the banking industry,” Kaminski said. “These consolidations reflect a recent evaluation of our retail footprint to ensure our network is ideally positioned for future success, especially as it pertains to evolving customer banking preferences and the changing regulatory and competitive environment.”
Associated Bank is the fourth-largest bank in the Rockford region by market share, according to the Federal Deposit Insurance Corporation. It holds a nearly 11% market share as of the most recent FDIC report in June 30, 2021.
Bank news: Wintrust opens Rockford Community Bank, expanding into personal banking here
This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on Twitter at @KevinMHaas.