OZAUKEE COUNTY — Customers of Associated Bank in Grafton
and Mequon will have to travel to new locations for
their banking needs, though they won’t need to travel
Associated Bank will acquire Bank Mutual; as part of the
agreement, 28 banks will close and merge into a nearby
location, according to a joint announcement.
Branches in Grafton and Mequon will be affected:
Grafton’s Associated Bank, 1930 Wisconsin Ave., will be
consolidated into the Bank Mutual branch at 2030
Wisconsin Ave., 0.3 miles away.
The Associated Bank in Mequon at 10509 N. Port
Washington Road will consolidate into the Bank Mutual
branch at 11249 N. Port Washington Road, 0.9 miles away.
merger was performed as a stock transaction valued at
$482 million, according to an Associated Bank press
release. Associated Bank is based in Green Bay, serving
more than 1 million customers across eight states; it is
the largest bank headquartered in Wisconsin.
Mutual is the parent company for the largest Milwaukee-
based bank, serving more than 120,000 customers in
Wisconsin and Minnesota, according to the press release.
acquisition of Bank Mutual provides significant
opportunity to increase our Wisconsin presence and
improve the scale of our operations. Associated Bank
President and CEO Philip Flynn said.