David Stein Retires After Two Decades, Transitioning to Strategic Advisor Role

David Stein's Retirement from Associated Bank

In a significant leadership transition, Associated Banc-Corp (NYSE: ASB) has announced that David Stein will retire after more than 20 years with the institution. His retirement will take effect on July 1, marking the end of an era characterized by immense contributions to the bank's growth and development.

Stein has been a pivotal figure at Associated Bank, having joined the team in 2005 as the regional president for the former South-Central Region. From his initial role leading operations in Madison and southwestern Wisconsin, David has played a crucial part in establishing Associated as a leader in consumer and business banking.

During his tenure, the bank has not only expanded its branch network but also significantly enhanced its mortgage business and introduced a variety of digital products. The result has been impressive customer satisfaction scores, reflecting the bank’s commitment to service excellence.

Effective July 1, 2025, Stein will transition into the role of Executive Vice President and Strategic Advisor, where he will assist in developing the bank's strategic plan while also serving as the Madison Market President until the close of 2025. This dual role will allow him to leave a lasting impact on the company's strategic direction prior to his full retirement.

According to Andrew Harmening, President and CEO of Associated Bank, Stein’s disciplined focus and commitment to operational rigor have greatly advanced the bank's business culture. He expressed confidence that Stein’s contributions to the next phase of their strategic plan would build upon the solid groundwork established over the years.

Reflecting on his journey, Stein stated, “It’s been my honor to lead consumer and business banking over the past 17 years, and I’m incredibly proud of all that we have accomplished together.” He expressed excitement about helping shape the future strategies and positioning the bank for ongoing success.

Following Stein's departure, Steven Zandpour will ascend to the role of head of consumer and business banking, having joined Associated Bank as Executive Vice President and Director of Retail Banking in 2024. Zandpour's promotion indicates a commitment to continuity and maintaining the momentum initiated by Stein.

Associated Banc-Corp, with total assets of $43 billion, stands as the largest bank holding company in Wisconsin. The bank, headquartered in Green Bay, serves a wide range of clients across approximately 200 locations in Wisconsin, Illinois, Minnesota, and Missouri. As Associated transitions through this change, it remains keen on expanding its product offerings and maintaining its revered customer service standards.

With Stein’s legacy set to be honored during his final months, the financial community will undoubtedly be watching closely as Associated Banc-Corp embarks on its next chapter under new leadership while honoring the philosophies that led to its achievements during his long tenure.

As David Stein prepares to leave his long-standing role, the organization gears up for a future filled with potential and growth opportunities, ensuring that the foundations built during his leadership will support the bank's objective of sustained success.