Associated Banc-Corp revealed in a legal filing today that a total of 36 branches will be closed and their operations consolidated with nearby branches in its acquisition of Bank Mutual Corp.
Green Bay-based Associated filed applications today with the Federal Reserve and Office of the Comptroller of the Currency to approve the planned acquisition of Brown Deer-based Bank Mutual, which the companies announced July 20. In the application, the banks outlined their post-merger branch network.
The branches that will be closed are in very close proximity to another branch, which is why they are being consolidated.
The companies plan to close 28 Bank Mutual branches and eight Associated Bank branches. Here is the complete list of the branches that are closing and which branch will absorb them:
| Bank Mutual consolidating branch | Associated receiving branch | Distance in miles |
| 510 E. Wisconsin Ave., Milwaukee | 401 E. Kilbourn Ave., Milwaukee | 0.2 |
| 3340 S. 27th St., Milwaukee | 3432 S. 27th St. Milwaukee | 0.1 |
| 6801 W Oklahoma Ave., Milwaukee | 10701 W. National Ave., West Allis | 2.2 |
| 2600 N. Mayfair Rd., Milwaukee | 2645 N. Mayfair Rd., Wauwatosa | 0.1 |
| 5784 N. Port Washington Rd., Milwaukee | 430 E. Silver Spring Dr., Whitefish Bay | 0.6 |
| 8780 S. Howell Ave., Oak Creek | 8131 S. Howell Ave., Oak Creek | 1.2 |
| 400 N. Moorland Rd., Brookfield | 17595 W. Bluemound Rd., Brookfield | 1.2 |
| 10296 W. National Ave., Milwaukee | 10701 W. National Ave., West Allis | 0.1 |
| 8400 W. Forest Home Ave., Milwaukee | 4811 S. 76th St., Greenfield | 0.4 |
| W178N9379 Water Tower Pl, Menomonee Falls | N88W15491 Main St., Menomonee Falls | 1.6 |
| 3212 Fiddlers Creek Dr., Waukesha | 2185 N. Grandview Blvd., Pewaukee | 2.2 |
| 1870 Meadow Ln., Pewaukee | 2185 N. Grandview Blvd., Pewaukee | 0.2 |
| 1526 S Main St., West Bend | 715 W. Paradise Dr., West Bend | 0.5 |
| 4323 W. Wisconsin Ave., Appleton | 1195 N. Casaloma Dr., Appleton | 0.4 |
| 201 N Monroe Ave., Green Bay | 200 N Adams St., Green Bay | 0.2 |
| 1227 Egg Harbor Rd., Sturgeon Bay | 1332 Egg Harbor Rd., Sturgeon Bay | 0.1 |
| 2603 Glendale Ave., Green Bay | 369 Cardinal Ln., Howard | 1.0 |
| 835 E Green Bay St., Shawano | 129 E. Division St., Shawano | 0.5 |
| 2370 E Mason St., Green Bay | 2241 East Main St., Green Bay | 0.4 |
| 2111 Holiday Dr., Janesville | 2720 North Lexington Dr., Janesville | 0.2 |
| 130 W Maple Ave., Beaver Dam | 201 Park Ave., Beaver Dam | 0.2 |
| 145 East Cook St., Portage | 222 E. Wisconsin St., Portage | 0.2 |
| 6209 Century Ave., Middleton | 2420 Allen Blvd., Middleton | 0.3 |
| 1 East Main St., Madison | 828 E Washington Ave., Madison | 0.7 |
| 10562 Kansas Ave., Hayward | 10526 Main St., Hayward | 0.1 |
| 2000 Crestview Dr., Hudson | 2200 Crestview Dr., Hudson | 0.1 |
| 8420 City Center Dr., Woodbury | 1835 Radio Dr., Woodbury | 0.2 |
| 749 Main Ave., De Pere | 1003 Main Ave., De Pere | 0.3 |
| Associated consolidating branch | Bank Mutual receiving branch | Distance in miles |
| 10509 N. Port Washington Rd., Mequon | 11249 N. Port Washington Rd., Mequon | 0.9 |
| 1930 Wisconsin Ave., Grafton | 2030 Wisconsin Ave., Grafton | 0.3 |
| 420 E. Main St., Ellsworth | 385 West Main St., Ellsworth | 0.7 |
| 2403 S. Oneida St., Green Bay | 2357 S. Oneida St., Green Bay | 0.1 |
| 206 N. Wisconsin St., De Pere | 330 N. Broadway, De Pere | 0.1 |
| 2252 W. Mason St., Green Bay | 2424 W. Mason St., Green Bay | 0.2 |
| 212 Bay St., Chippewa Falls | 35 W Columbia St., Chippewa Falls | 0.1 |
| 3009 Mall Dr., Eau Claire | 2812 Mall Dr., Eau Claire | 0.1 |
The companies declined to comment on the branch closures, which they first hinted at in their initial announcement. In the filing, they did say:
“Associated and Bank Mutual share a proud heritage of serving Wisconsin and other Midwest communities for 156 and 125 years, respectively. Both organizations are built around customer-centric strategies and understand the importance of delivering increasing value to customers, colleagues, communities and shareholders. Customers will benefit from the breadth of products and services offered by Associated, along with continued efforts to strengthen our communities. There will be significant, ongoing opportunities for employees of both organizations to contribute to the organization over the long-term.”
If Associated and Bank Mutual receive the regulatory approvals being sought and get the go-ahead from Bank Mutual’s shareholders, the transaction is expected to close in the first quarter of 2018. Associated expects a 45 percent cost savings from the transaction, which will be drawn from mainly branch consolidations and layoffs.
