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Associated Bank Expands Its Chicago Asset-Based Lending Team

Associated Bank has announced new hires to its asset-based lending team.

The asset-based lending team, under the leadership of Ray Temple who joined Associated Bank in September 2021, welcomes Keith Contole, John Todd, Jim Vargo, and Mike Williams, who bring over 100 years of industry experience.

The new relationship managers will be responsible for originating and structuring asset-based loans for clients through flexible financing solutions that meet their evolving goals and market conditions, including revolving lines of credit and term loans secured by accounts receivables, inventory or real estate, allowing clients to access working capital.

Keith Contole has joined Associated Bank as a senior vice president & relationship manager of asset-based lending, corporate banking. He is responsible for portfolio management & underwriting.

Contole brings more than 25 years of commercial and ABL banking experience to Associated Bank and has an extensive background in portfolio, underwriting, and operations management. Previously, he held the position of senior vice president – senior account manager for Huntington Bank (via acquisition of Chemical Bank / TCF Bank) in Chicago.

Contole holds a bachelor’s degree in accounting & finance from Purdue University and is actively involved in community volunteer activities.

John Todd has joined Associated Bank as senior vice president & business development officer of asset-based lending, corporate banking. He is responsible for building and sourcing new client relationships in Illinois, Ohio, and Michigan.

Todd brings more than 25 years of banking experience to Associated Bank and has an extensive background in business development, underwriting and relationship management. Previously, he held the position managing director – Midwest region at SG Credit Partners, a Private Credit Fund.

Todd holds a bachelor’s degree in accounting from Michigan State University. Todd has been active in the Secured Financing Network and Turnaround Management Association over many years.

Pictured left to right are: Keith Contole, John Todd, Jim Vargo, and Mike Williams

Jim Vargo has joined Associated Bank as senior vice president & business development officer of asset-based lending, corporate banking. He is responsible for generating new business as a customer champion and advocate in Illinois, Wisconsin, and Indiana.

Vargo brings more than 30 years of banking experience to Associated Bank and has an extensive background in business development in both asset based and commercial banking as well as accounting and finance as a prior chief financial officer.

Vargo holds a masters and bachelor’s degree in finance and accounting from Northern Illinois University. He holds CPA, CGMA, and CTP designations. In the community, he was the past president of the Chicago TMA and SFNET organizations as well as being active with ACG and FEI. Vargo has also been active in various rehab projects, fund raising for Make a Wish and leadership roles with various youth organizations.

Mike Williams has joined Associated Bank as senior vice president & business development officer of asset-based lending, corporate banking. He is responsible for business development in Minnesota, Illinois, Missouri, and Texas.

Williams brings more than 25 years of banking experience to Associated Bank. Previously, he held the position of managing director – Midwest region for CIBC in Chicago.

Williams holds a bachelor’s degree in accounting from Northern Illinois University. He also holds a CPA designation. In the community, he volunteers with his children’s activities.