Associated Banc-Corp, the holding company of Green Bay-based Associated Bank, will purchase Brown Deer-based Bank Mutual Corp. in an all-stock transaction valued at $482 million.
The transaction should close in the first quarter of 2018, according to a report in the Milwaukee Business Journal. Associated Bank is Wisconsin’s largest, with 200 banking locations across Wisconsin, Illinois and Minnesota. Bank Mutual, which has been around for 125 years, trimmed its locations in recent years to 57, including one in Minnesota.
