Associated receives regulatory approval to acquire Bank Mutual

Associated Banc-Corp said Tuesday it has received regulatory approval for its acquisition of Bank Mutual Corp., clearing the way for the merger to close Feb. 1.

Green Bay-based Associated announced in July that it planned to buy Bank Mutual, of Brown Deer, in a $482 million deal.

Associated is the largest bank headquartered in Wisconsin, while Bank Mutual is the fourth-biggest bank. Bank Mutual locations will convert to Associated branches in the merger.