NEW LONDON, WI – First State Bank announced that chief executive officer and former bank president, Bob Van Asten, is retiring on March 31, after a 32-year career with First State Bank and 35 years in banking.

Van Asten joined First State Bank in 1991 as an assistant vice president responsible for developing and maintaining commercial and agricultural loan relationships. Over the years, he advanced in the organization holding positions of vice president, Clintonville branch manager, senior vice president and business banking manager, and senior credit officer. Van Asten was named president and elected to First State Bank’s board of directors in 2015, becoming chief executive officer (CEO) in February 2016.

Following the announcement of his retirement plans late last year, Matthew R. Lemke was named in January to succeed Van Asten as president. Van Asten continued in his role as CEO, working closely with Lemke and the bank’s board of directors to assure a smooth transition.

Under Van Asten’s leadership, First State Bank’s total assets grew from $260 million in 2016 to $539 million. This growth included the expansion of the bank’s market area into Central Wisconsin with the acquisition of the former Farmers and Merchants Bank in Rudolph in 2017 and Pioneer Bank in 2020. First State Bank also built a larger facility in Stevens Point last year and began construction on its new corporate headquarters in downtown New London in January.

During his career, Van Asten was involved in both the New London and Clintonville communities. He has been a member of the New London Rotary Club since 1991 and served as treasurer for 10 years. He was director and past chairman of the board of directors for the Clintonville Area Foundation. Van Asten has also served on the board of directors and as past board chairman for the New London Family Medical Center, as a director for the Wolf River Area Heath Care Foundation, and as a director and president of the Clintonville Area Chamber of Commerce.

“I am very proud First State Bank is poised to continue to grow and serve our customer and communities and want to offer my sincere thanks to our employees whose hard work and dedication have allowed us to achieve so much,” commented Van Asten.

Customers and community members are invited to stop by First State Bank’s New London bank lobby on Wednesday, March 29, from 1-3 pm to wish Van Asten well in his retirement and enjoy refreshments.