Associated Bank Private Wealth Expands Leadership Team in Minneapolis Market

Rhea-AI Summary

Associated Bank (NYSE:ASB) is expanding its Private Wealth leadership in Minneapolis with two senior hires. Ken LaChance becomes senior private wealth advisory market leader – Minneapolis, and Gracia Cavanaugh joins as senior wealth planner for Minnesota.

Their appointments support growth in the Twin Cities, integration of American National Bank clients, and enhanced service for high-net-worth clients.

AI-generated analysis. Not financial advice.

Key Figures

Q1 2026 net income: $117M Q1 2026 EPS: $0.70 Period-end loans: $31.8B +5 more

8 metrics

Q1 2026 net income $117M Net income available to common equity in Q1 2026

Q1 2026 EPS $0.70 Net income per common share in Q1 2026

Period-end loans $31.8B Q1 2026 loans (+2% QoQ; +5% YoY)

Period-end deposits $35.7B Q1 2026 deposits (+1% QoQ; +2% YoY)

Net interest income $307M Q1 2026 net interest income

Net interest margin 3.03% Q1 2026 NIM

Provision for credit losses $11M Q1 2026 provision for credit losses

Repurchase authorization $214M Total common stock repurchase authorization as of Apr 28, 2026

Market Reality Check

Price: $27.99 Vol: Volume 1,556,572 vs 20-da...

normal vol

$27.99 Last Close

Volume Volume 1,556,572 vs 20-day average 1,889,329 (relative volume 0.82) indicates activity below recent norms. normal

Technical Price at 27.99 trades above 200-day MA of 26.33, sitting 5.17% below 52-week high 29.515 and 24.96% above 52-week low 22.40.

Peers on Argus

ASB gained 3.02% while several regional bank peers also showed gains (e.g., BANF...

ASB gained 3.02% while several regional bank peers also showed gains (e.g., BANF 2.27%, UCB 2.18%, AVAL 3.17%). However, no peers appeared in the momentum scanner, and the move is flagged as stock-specific rather than a confirmed sector-wide rotation.

Historical Context

5 past events · Latest: May 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
May 19	Market expansion	Positive	-1.2%	Expanded commercial banking presence in Dallas with new leadership hires.
May 07	Community grants	Positive	-1.4%	Awarded $375,000 in grants supporting emerging affordable housing developers.
Apr 30	Investor outreach	Neutral	+0.1%	Announced participation in four Q2 2026 investor conferences and symposiums.
Apr 28	Dividends/buybacks	Positive	-1.1%	Declared dividends and expanded stock repurchase authorization to $214M.
Apr 23	Earnings update	Positive	-2.0%	Reported Q1 2026 earnings with loan and deposit growth and American National deal close.

Pattern Detected

Recent positive or strategic news (expansions, capital returns, solid earnings) has often been followed by short-term negative price reactions, suggesting a tendency for divergence between news tone and immediate trading.

Recent Company History

Over the last few months, ASB reported Q1 2026 net income of $117M and completed the American National acquisition, showing balance-sheet growth in loans and deposits. The board boosted capital return with a $0.24 quarterly dividend and total repurchase authorization of $214M. The bank has actively expanded geographically, including Dallas commercial banking and now Private Wealth in Minneapolis. Despite largely constructive news, several past announcements saw negative 24-hour reactions, making today’s positive move stand out versus recent divergence.

Market Pulse Summary

This announcement highlights Associated’s ongoing buildout of its Private Wealth franchise in Minnea...

Analysis

This announcement highlights Associated’s ongoing buildout of its Private Wealth franchise in Minneapolis, adding two leaders with over 30 years of experience each. It complements earlier expansion in markets like Dallas and follows the American National Bank acquisition, indicating continued focus on higher-value client segments. In evaluating this strategy, investors may watch future earnings for evidence of fee-income growth, client retention from the merger, and how capital return actions like the $214M repurchase authorization align with these growth investments.

Key Terms

cfp®, finra, series 7

3 terms

cfp® financial

"Gracia Cavanaugh, CFP®, MS, as senior wealth planner for Minnesota."

A CFP® is a certified financial planner designation granted to professionals who have met standardized education, experience and ethical requirements for giving personal financial advice. Think of a CFP® as a licensed architect for your money: they design long-term plans for saving, investing, taxes and retirement and are trained to act in a client’s best interest. For investors, a CFP® signals a higher level of competence and accountability when choosing someone to manage or advise on their finances.

finra regulatory

"He earned a bachelor's degree ... and holds FINRA Series 7, 9/10, 63 and 65 licenses."

FINRA is the U.S. self‑regulatory organization that oversees brokerage firms and individual brokers, setting and enforcing rules to protect investors and keep markets orderly. Think of it as a referee and rulebook keeper for the broker industry: it licenses brokers, monitors their behavior, enforces standards, and runs complaint and arbitration systems, so investors can check records and have a path to resolve disputes.

series 7 financial

"and holds FINRA Series 7, 9/10, 63 and 65 licenses."

A Series 7 is a regulatory exam and license required for financial professionals who sell a broad range of investment products, such as stocks, bonds and options. For investors it matters because it signals that the person advising or handling trades has passed standardized testing and meets industry rules—think of it like a driver's license that shows someone is qualified to operate across many types of investment transactions, improving trust and accountability.

AI-generated analysis. Not financial advice.

Strategic hires strengthen wealth advisory, planning and investment capabilities across Minnesota

MINNEAPOLIS, May 21, 2026 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today announced the continued expansion of its private wealth business in Minnesota with the addition of two experienced professionals to support growth in the Minneapolis market: Ken LaChance as senior private wealth advisory market leader – Minneapolis and Gracia Cavanaugh, CFP®, MS, as senior wealth planner for Minnesota.

LaChance will be based at the IDS Center in Minneapolis and report to Jayne Hladio, executive vice president and president of Associated Bank Private Wealth.

The additions reflect Associated Bank's continued investment in Minneapolis as a key growth market for its private wealth business, building on the bank's broader expansion strategy across the Twin Cities and strengthening its ability to serve high-net-worth individuals, families and business owners with personalized advice and integrated banking capabilities.

In his role, LaChance will lead and coordinate local market efforts across Private Wealth to drive growth, deepen client relationships and enhance retention. He will work closely with wealth directors and partners across the bank to strengthen collaboration and deliver a seamless "One Associated" client experience, while helping expand the team's presence in Minnesota and supporting the integration of American National Bank clients.

"Minneapolis is an important growth market for our private wealth business, and we continue to invest in experienced talent who can deepen relationships and deliver the personalized guidance our clients expect," said Hladio. "Ken's leadership experience, market knowledge and collaborative approach will help accelerate our momentum in the Twin Cities while strengthening connectivity across our organization."

LaChance brings more than 30 years of financial services leadership experience spanning wealth management, commercial banking, growth strategy and team development. Most recently, he served as branch complex manager and executive director with Wells Fargo Advisors, where he led multi-office teams and drove business growth while maintaining strong operational and regulatory discipline. Earlier in his career, he held senior commercial banking leadership roles serving middle-market and corporate clients throughout Minnesota.

He earned a bachelor's degree from the University of Minnesota Duluth and holds FINRA Series 7, 9/10, 63 and 65 licenses.

Associated Bank also announced the addition of Cavanaugh as senior wealth planner for Minnesota. She will report to Michelle Slawny, senior vice president and wealth planning director, and will also be based at the IDS Center.

Cavanaugh brings more than 30 years of experience serving clients in the Twin Cities and California. Most recently, she served as region development manager at U.S. Bank, where she coached wealth teams and helped enhance client experience consistency through planning strategies, advisor development and relationship deepening initiatives. She also previously led advisory consulting efforts for MoneyGuidePro platform transitions and served as president of Cavanaugh Financial Group, advising clients on comprehensive financial planning strategies.

She earned a bachelor's degree from the University of St. Thomas and a master's degree in personal financial planning from The College for Financial Planning. She also holds FINRA Series 7, 24, 53 and 63 licenses.

These additions further strengthen Associated Bank's private wealth capabilities in Minnesota and complement the bank's recent appointment of Lisa Buetow to lead Major Metro Market Private Banking, reinforcing Associated's long-term commitment to growing its presence and serving clients across the Twin Cities market.

ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of approximately $50 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 over 200 banking locations throughout Wisconsin, Illinois, Iowa, Minnesota, Missouri and Nebraska. 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.

Media Contact:
Andrea Kozek
VP/Senior Manager, PR
920-491-7518

View original content to download multimedia:https://www.prnewswire.com/news-releases/associated-bank-private-wealth-expands-leadership-team-in-minneapolis-market-302779124.html

SOURCE Associated Banc-Corp

FAQ

What leadership changes did Associated Bank (ASB) announce for its Minneapolis private wealth business on May 21, 2026?

Associated Bank appointed Ken LaChance as senior private wealth advisory market leader – Minneapolis and Gracia Cavanaugh as senior wealth planner for Minnesota. According to Associated Bank, these hires support private wealth growth and client service across the Twin Cities market.

Who is Ken LaChance and what is his role at Associated Bank Private Wealth in Minneapolis?

Ken LaChance is the new senior private wealth advisory market leader – Minneapolis at Associated Bank. According to Associated Bank, he will lead local Private Wealth efforts, deepen client relationships, support American National Bank client integration and coordinate a seamless “One Associated” client experience.

What experience does Gracia Cavanaugh bring to Associated Bank (ASB) as senior wealth planner for Minnesota?

Gracia Cavanaugh brings over 30 years of client service experience in the Twin Cities and California. According to Associated Bank, she has led advisor development, planning strategies and comprehensive financial planning, including roles at U.S. Bank and Cavanaugh Financial Group.

How do the new private wealth hires support Associated Bank’s growth strategy in Minneapolis and the Twin Cities?

The new hires are intended to strengthen wealth advisory, planning and investment capabilities in Minnesota. According to Associated Bank, they support expansion in Minneapolis, enhance service for high-net-worth clients and reinforce long-term commitment to the Twin Cities private wealth market.

Where will the new Associated Bank Private Wealth leaders be based in Minneapolis?

Both Ken LaChance and Gracia Cavanaugh will be based at the IDS Center in Minneapolis. According to Associated Bank, this central location supports collaboration with wealth directors and partners to deliver integrated banking and a unified client experience across the Minnesota private wealth franchise.