If Green Bay-based Associated Banc-Corp takes on the deposits of Brown Deer-based Bank Mutual Corp., it will increase its market share in several important Wisconsin markets.

According to the banks’ application for merger, which is pending approval at the Office of the Comptroller of the Currency (OCC), Associated would have concentrations as high as 34 percent of deposits in the Green Bay market and 36.9 percent of deposits in the Shawano market.

The market deposit levels are defined by the OCC as the relative shares of total deposits in insured depository institutions in banking markets. Associated and Bank Mutual overlap operations in 15 markets.

Read more in BizTimes Milwaukee.