The completion of Associated Banc-Corp’s acquisition of Bank Mutual Corp. is expected to take place around Feb. 1, Bank Mutual chief executive officer David Baumgarten revealed Thursday.
The banks expect Bank Mutual’s Brown Deer headquarters to remain operational and staffed until after the systems conversion, which they plan to complete in June or July.
Baumgarten also said Brown Deer-based Bank Mutual does not expect the 50 percent drop in its earnings in the fourth quarter to impact the transaction.
“Actually, the core earnings came in about where we thought they’d come in,” he said, pointing to a large one-time tax write-off related to the new federal tax law and merger-related expenses as the culprits.
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