Associated Banc-Corp appointed Paul Schmidt to the role of Twin Cities market president. The company also announced plans for the expansion of its market commitment and accelerated growth through its new Engage Local initiative.
“With approximately $2.5 billion in deposits, Minnesota is Associated Bank’s third-largest footprint. Given its strong economy and diverse set of industries, this market has tremendous opportunity for growth,” Andy Harmening, president and CEO of Associated Bank, said. “I can’t think of a better person to serve as our market president and lead these efforts than Paul Schmidt. As a veteran of the commercial finance business and highest-ranking colleague in the Twin Cities, he knows and is committed to the success of this market.”
Schmidt joined Associated Bank in 2015 and has nearly 40 years of banking experience. In addition to the role of market president, he will continue to serve as the company’s head commercial real estate and facilities and as a member of the executive leadership team.
His appointment comes following the successful implementation of multiple corporate-level initiatives focused on the expansion of the company’s core lending capabilities, growth of its core businesses and people-first, digital-forward strategies.
“These strategic plans are already well into the execution phase, and we are seeing encouraging results across the board,” Harmening said. “Now, we are charting the future of our business on a regional level, with our new Engage Local initiative.”
In this expanded role, Schmidt will provide leadership for the market, which includes approximately 200 colleagues across 17 locations. Associated has operated in the market since the mid-90s and offers a full array of consumer, wealth management, commercial banking and commercial real estate products and services to the bank’s customer base.
Schmidt will also lead the Twin Cities regional leadership team in prioritizing efforts for the market. This ground-up approach takes areas of the business that are important to the company – sales, marketing, charitable giving, volunteerism and culture – and empowers colleagues to bring them to life at the local level.
“To grow the business, we must respond to – and ideally, anticipate our colleague, customer and community needs,” Schmidt said. “Given our size and strength in the market, we are well positioned to focus on opportunities to grow our business while making Associated Bank a stronger partner for our customers and the community.”
