Associated Banc-Corp | Stephens

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Financial Advisor

Associated Banc-Corp

Value Not Disclosed 09/14/2020 Depository Complete
Lead Bankers: Jim Hemmer, Adam Cunningham
Public Companies
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Transaction Details

  • On September 14, 2020 — Associated Banc-Corp (NYSE: ASB) announced that it has entered into definitive agreements to sell five branches to Morton Community Bank and two branches to Royal Bank
  • Sale of Peoria branches to Morton Community Bank
  • 5 branches, $208 million in total deposits, no loans
  • Receiving a 4% purchase premium on deposits transferred
  • Expected to close in December
  • Sale includes 6 properties
  • Sale of branches in SW Wisconsin to Royal Bank
  • 2 branches, $56 million in total deposits, no loans
  • Receiving a 4% purchase premium from Royal Bank on deposits in Prairie du Chien and Richland Center
  • Expected to close in December
Sources: S&P Global Market Intelligence and publicly available information.
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