American National Bank, headquartered in Omaha, is set to merge with Associated Banc-Corp in a significant deal valued at approximately $604 million. This announcement was made by the Wisconsin-based parent company on Monday, marking a strategic move aimed at enhancing its presence in the banking sector.
As of the latest reports dated September 30, 2025, American National Bank has demonstrated strong financial health, with total assets amounting to $5.3 billion, total loans of $3.8 billion, and total deposits of $4.7 billion. The merger will position Associated Banc-Corp as the second-largest bank in the Omaha market, based on deposit share.
Founded in 1856 originally as The Bank of Florence, American National Bank has grown to encompass 33 branches across Nebraska, Iowa, and Minnesota. In light of this forthcoming merger, while the consolidated company will operate from Green Bay, there will remain an executive presence in Omaha. Details regarding the future of the current headquarters at 90th and Dodge are still under discussion.
To reassure clients, both banks have communicated that existing services will remain uninterrupted throughout the transition. Customers will be able to continue using their checks, debit cards, and digital banking services without any immediate changes. In the long term, American National Bank’s clientele can anticipate enhanced access to a broader array of resources while maintaining a focus on local service.
As the merger moves forward, it has already received approval from the boards of both institutions and is slated to close in the second quarter of next year. The transaction is structured as an all-stock deal, where shareholders of American National Bank will receive 36.250 shares of Associated Banc-Corp stock for each share they possess in American National.
Furthermore, American National Bank’s subsidiary will merge into Associated’s banking division, Associated Bank, N.A. Clients who have inquiries regarding the merger are encouraged to reach out to their bankers or representatives for more personalized assistance.
