Bank Mutual Corporation Shareholders Vote to Approve Merger Agreement With Associated Banc-Corp
October 24 2017 - 12:07PM
Bank Mutual Corporation (“Bank Mutual”) (NASDAQ:BKMU) announced
that its shareholders, at a special meeting held earlier today,
voted to approve the previously announced merger agreement
providing for the merger of Bank Mutual with Associated
Banc-Corp (NYSE:ASB). Shareholders also voted, in an advisory
vote, to approve certain compensation arrangements for Bank
Mutual’s named executive officers in connection with the merger.
The merger transaction remains subject to
regulatory approvals and customary closing conditions; the
companies expect the transaction will close in early 2018.
Bank Mutual Corporation’s stock is quoted on the
NASDAQ Global Select Market under the ticker symbol BKMU. As of
October 24, 2017, Bank Mutual’s subsidiary bank operated 57 banking
locations in Wisconsin and one in Minnesota.
This release contains forward-looking statements
that are based on the current expectations and beliefs of
management. Forward-looking statements may contain, and are
intended to be identified by, words such as “anticipate,”
“believe,” “expect,” “intends,” and similar expressions; the use of
verbs in the future tense and discussions of periods after the date
on which this report is issued are also forward-looking statements.
The statements contained herein involve certain assumptions, risks,
and uncertainties, many of which are beyond the Bank Mutual’s
control and that could cause future events to differ materially
from what is stated or expected; in particular, it is possible that
the proposed merger with Associated Banc-Corp may not be completed
in a timely manner or at all. These factors also include, but are
not limited to, the factors discussed in Bank Mutual’s filings with
the Securities and Exchange Commission, particularly under Part I,
Item 1A, “Risk Factors,” of Bank Mutual’s 2016 Annual Report on
Form 10-K, under the caption “Forward Looking Statements” in Bank
Mutual’s Current Report on Form 8-K filed on July 20, 2017, and
under the caption “Risk Factors” in Bank Mutual’s Schedule 14A,
“Definitive Proxy Statement,” filed on September 15, 2017.
CONTACTS: Bank Mutual
CorporationDavid A.
BaumgartenPresident and Chief Executive
Officer or Michael W.
DoslandSenior Vice President and Chief Financial
Officer(414) 354-1500
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