Three former Bank Mutual locations may have a new owner on the way.
WaterStone Bank, based in Wauwatosa, filed applications with the Federal Deposit Insurance Corp. to establish branches at three properties that Bank Mutual previously operated. Associated Banc-Corp., the holding company for Associated Bank, purchased Brown Deer-based Bank Mutual earlier this year for $482 million, and put more than two dozen properties up for sale.
The three properties are located around the Milwaukee area. One is in West Allis at 10296 W. National Ave., near Boston Market and Target. Another is in Oak Creek at 8780 S. Howell Ave., by Qdoba, McDonald’s and Pick 'n Save. The third is in the city of Milwaukee at 6801 W. Oklahoma Ave., near American Science & Surplus.
Doug Gordon, president and chief executive officer of WaterStone Bank, said the company is in a due diligence period at the three facilities and is awaiting regulatory approval. Any potential purchase of the properties by WaterStone is down the road, he said.
Read more in the Milwaukee Business Journal.