Associated Bank Names Neil Riegelman as Milwaukee Market President

Rhea-AI Summary

Associated Bank (NYSE: ASB) named Neil Riegelman as Milwaukee market president, effective April 1, 2026, succeeding John Utz who will focus on scaling the bank's national specialized industries.

Riegelman, SVP and head of Commercial Banking – Milwaukee and Madison, joined Associated in October 2023 and will continue advancing commercial growth in Southern Wisconsin.

Key Figures

Effective date: April 1, 2026 Prior appointment year: 2015 Hire date: October 2023 +1 more

4 metrics

Effective date April 1, 2026 Date Neil Riegelman assumes Milwaukee market president role

Prior appointment year 2015 Year John Utz was appointed Milwaukee market president

Hire date October 2023 Date Riegelman joined Associated to lead commercial banking

Record bottom line year 2025 Described as strongest bottom line and commercial lending year

Market Reality Check

Price: $24.48 Vol: Volume 283,385 is well be...

low vol

$24.48 Last Close

Volume Volume 283,385 is well below the 20-day average of 2,396,363 (relative volume 0.12), suggesting a low-key reaction to the leadership news. low

Technical Shares at $24.48 are trading below the 200-day MA of $25.75 and about 17.06% under the 52-week high, while still 33.62% above the 52-week low.

Peers on Argus

ASB is up 1.53% while key regional bank peers like BANF, IBOC, UCB, AVAL, and SF...

ASB is up 1.53% while key regional bank peers like BANF, IBOC, UCB, AVAL, and SFBS show declines between about 0.75% and 1.48%, pointing to a company-specific move around the management change rather than a sector-wide rally.

Historical Context

5 past events · Latest: Mar 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 12	Acquisition approvals	Positive	-0.4%	Regulatory approvals received to complete merger with American National Corporation.
Feb 02	Investor conferences	Positive	+1.6%	Management scheduled to meet investors at three Q1 2026 events.
Jan 27	Dividends & buyback	Positive	+0.2%	Declared cash dividends and authorized up to <b>$100M</b> common stock repurchases.
Jan 22	Record earnings	Positive	-3.8%	Reported record 2025 net income and growth in loans, deposits, and NII.
Dec 30	Earnings date set	Neutral	-0.7%	Announced Q4 2025 earnings release date and conference call details.

Pattern Detected

Recent news shows mixed reactions: clearly positive items like record earnings and acquisition approvals have sometimes seen negative next-day moves, indicating occasional divergence between fundamentals and short-term price action.

Recent Company History

Over the past few months, Associated Banc-Corp has emphasized strategic and capital actions. It reported record 2025 net income of $463 million and stronger loans and deposits, announced regular and preferred dividends plus a $100 million buyback, and outlined 2026 growth targets. It also secured regulatory approvals for the American National acquisition and maintained investor outreach via multiple conferences. Today’s Milwaukee leadership transition fits into this broader narrative of growth, commercial focus, and integration of its expanding franchise.

Market Pulse Summary

This announcement highlights a leadership transition aimed at reinforcing Associated Banc-Corp’s com...

Analysis

This announcement highlights a leadership transition aimed at reinforcing Associated Banc-Corp’s commercial banking focus in Milwaukee while supporting expansion of national specialty verticals. It follows record 2025 performance, described as the strongest bottom line and commercial lending year, and recent progress on the American National acquisition. Investors may watch how the new market president sustains local growth, complements specialized businesses, and fits within the broader strategic and integration roadmap.

AI-generated analysis. Not financial advice.

MILWAUKEE, March 16, 2026 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today announced a strategic leadership transition in its Milwaukee market designed to accelerate both local growth and the continued expansion of its national verticals.

Effective April 1, Neil Riegelman, senior vice president and head of Commercial Banking – Milwaukee and Madison, will also assume the role of Milwaukee market president. He succeeds John Utz, executive vice president, Milwaukee market president and head of Specialized Industries, who will dedicate his focus to scaling the bank's nationally focused specialty businesses he also oversees.

Utz was appointed Milwaukee market president in 2015, at a pivotal time in the bank's evolution in the region. Under his leadership, Associated significantly expanded its specialized industries, commercial and corporate banking presence, strengthening its position in the market and reshaping its brand from primarily consumer-focused to a full-service financial partner.

"When I joined Associated and took on the role of market president, the directive for Milwaukee was clear: build a stronger commercial platform and expand our relevance in the market and I'm proud of what we have accomplished so far," said Utz. "Neil is a Wisconsin native who can continue to grow our Milwaukee business while I focus on growing our specialized industries across the country."

Riegelman joined Associated in October 2023 to lead the commercial banking team's business development, client relationships and related strategies for Southern Wisconsin. Associated's commercial business has had unprecedented growth, with 2025 being the strongest bottom line in the company's history and the strongest year for commercial lending.

"John's leadership has been instrumental in elevating our Milwaukee presence and building deep connections across the business community," said Riegelman. "I'm honored to step into this role and continue advancing our commercial strategy in one of our most important markets."

Riegelman earned a degree in finance from the University of Wisconsin–Oshkosh. He serves on the boards of Discovery World and Ducks Unlimited of Milwaukee and resides in Brookfield, Wis.

ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $45 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, Minnesota and Missouri. The Company also operates loan production offices in Indiana, Kansas, Michigan, 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: Andrea Kozek
VP/Senior Manager, Public Relations
920-491-7518

View original content to download multimedia:https://www.prnewswire.com/news-releases/associated-bank-names-neil-riegelman-as-milwaukee-market-president-302714767.html

SOURCE Associated Banc-Corp

FAQ

Who is Neil Riegelman and what role will he hold at Associated Bank (ASB) starting April 1, 2026?

Neil Riegelman will be Milwaukee market president effective April 1, 2026. According to the company, he currently serves as senior vice president and head of Commercial Banking – Milwaukee and Madison and joined Associated in October 2023 to lead commercial growth in Southern Wisconsin.

Why is John Utz stepping back from the Milwaukee market president role at Associated Bank (ASB)?

John Utz will focus on scaling the bank's nationally focused specialized industries business. According to the company, Utz will dedicate his time to expanding specialty industries he oversees across the country.

What experience does Neil Riegelman bring to the Milwaukee market president position at Associated Bank (ASB)?

Riegelman leads commercial business development for Southern Wisconsin and has banking leadership experience. According to the company, he joined Associated in October 2023 and directs commercial lending strategy and client relationships in the region.

When did Associated Bank report its strongest commercial lending and bottom-line performance mentioned in the announcement?

Associated's commercial business had its strongest bottom line in 2025, with record commercial lending results. According to the company, 2025 was the strongest year in the bank's history for the commercial business and bottom-line performance.

How might Neil Riegelman's appointment affect Associated Bank's Milwaukee commercial strategy (ASB)?

Riegelman's appointment is intended to continue commercial expansion and client relationship growth in Milwaukee. According to the company, he aims to advance the commercial strategy in one of Associated's most important markets leveraging local ties and commercial team leadership.

What is Neil Riegelman's background and community involvement disclosed by Associated Bank (ASB)?

Riegelman holds a finance degree from University of Wisconsin–Oshkosh and lives in Brookfield, Wis. According to the company, he serves on boards including Discovery World and Ducks Unlimited of Milwaukee.