Mega Bank Merger Announced In Wisconsin

7/22/17 – The largest bank that’s based in Wisconsin is about to acquire the state’s third largest. Associated Banc Corp of Green Bay says it will buy Bank Mutual of Brown Deer for about $482-million. Associated has 250 offices and branches, all in Wisconsin or close to it in Minnesota and Illinois — and Bank Mutual’s 58 branches, one of which is in Beaver Dam, will get the Associated name if federal regulators okay the deal early next year. Associated C-E-O Phillip Flynn would head the new entity, saying it would improve its technology and compete better with national outfits — and he acknowledges that a number of branches would have to be consolidated. Associated currently has Wisconsin’s third largest market share behind B-M-O Harris and U-S Bank — both of which used to be headquartered in the state with present and previous ownerships.