Wisconsin's associated will merge two Minnesota Banks

Northwestern Financial Review, Feb 5, 2000

Minneapolis' Riverside Bank, a prime lender to start-up businesses, will see its name disappear in the spring when it merges with another Minnesota financial institution to become Associated Bank Minnesota.

Founded in 1973, Riverside Bank was purchased last summer by Green Bay, Wis-based Associated BancCorp. The Wisconsin bank plans to merge Riverside Bank with Nerstrand, Minn.-based Bank Windsor by March 10, said Rick Burnton, branch manager of Riverside's downtown Minneapolis office.

The move will create a bank with $642 million in assets and an employee base of 165 people.

"There shouldn't be any material changes," Burnton said.

The new Associated Bank Minnesota will have offices in Minneapolis, Bloomington, Brooklyn Park, Plymouth, Chisholm, Nerstrand and Sleepy Eye. The bank will be led by David Cleveland, a founder of Riverside Bank. John Crinklaw, president of Bank Windsor, will serve as executive vice president of Associated Bank Minnesota.

Associated Banc-Corp purchased Bank Windsor in February 1999. The Wisconsin-based holding company has $12.3 billion in assets and more than 200 banking offices in Wisconsin, Illinois and Minnesota.