Associated Banc-Corp and GN Bancorp Inc. mergers completed.GREEN BAY, Wis. and CHICAGO--(BUSINESS WIRE)--Aug. 2, 1995-- Associated Banc-Corp Associated Banc-Corp is a bank holding company headquartered in Green Bay, Wisconsin. As of early 2007, it had $20.8 billion in assets and was the 41st largest bank holding company in the United States.[1] The company has over 5101 employees. (NASDAQ/NMS:ASBC ASBC American Society of Brewing Chemists (St. Paul, MN) ASBC American Small Business Coalition ASBC Air and Space Basic Course (USAF) ASBC Archaeological Society of British Columbia ) announced today that shareholders of GN Bancorp Inc., an Illinois bank holding company with $130 million in assets including its commercial bank subsidiary Gladstone-Norwood Trust & Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , formally approved the merger with Associated. Under the terms of the merger, shareholders of GN will receive 8.234 shares of Associated common stock for each share of GN stock owned. Speaking on behalf of Associated Banc-Corp, Executive Vice President Robert C. Gallagher said, ``The Gladstone-Norwood banking offices in northwest Chicago complement Associated's existing market in downtown Chicago. The two Gladstone banking offices will heighten height·en v. height·ened, height·en·ing, height·ens v.tr. 1. To raise or increase the quantity or degree of; intensify. 2. To make high or higher; raise. v.intr. Associated's visibility in our Chicago Region increasing our asset size by $130 million to over $400 million.'' George J. McCarthy, president and chief executive officer of the $271 million Associated Bank Chicago, headquartered in the Amoco Building There are several buildings called the Amoco Building. Among them:
tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. into the Gladstone-Norwood neighborhood. The addition of the Gladstone banking offices enhances our ability to service the financial needs of the greater Chicago marketplace.'' ``We are pleased to be a part of the Associated organization and its network of quality banks,'' said Eugene P. Mroz, chairman of GN Bancorp. ``On Thursday, August 3 we will open our doors as the newest Associated Bank in the company's Chicago Region. The affiliation with associated will provide our customers with added location convenience, while the trust, retail and business products and services available through Associated will enhance those we can currently offer our customers. ``The role of the local bank in the community, the importance of locally-made decisions and the strong commitment to our bank employees will continue as we become the newest member of the Associated Bank network,'' Mroz added. ``Our name will be changing, but the same friendly bank personnel will continue to serve our customers' personal and corporate financial needs.'' Mroz noted that activities are being planned for the community and bank customers which will be centered around the changing of bank signs and the expanded products and services available at Associated Bank, Gladstone-Norwood. The $400 million Associated Chicago Region is a member of the $3.36 billion Associated Banc-Corp, headquartered in Green Bay, Wis. The diversified multibank holding company Noun 1. multibank holding company - a bank holding company owning several banks bank holding company - a holding company owning or controlling one or more banks has over 85 banking locations in Wisconsin and northern Illinois For the university, see Northern Illinois University Northern Illinois is a region generally covering the northern third of the U.S. state of Illinois. Economics offering a variety of financially related products and services to complement its traditional line of banking products. CONTACT: Associated Bank Chicago George J. McCarthy, 312/861-1000 or Associated Banc-Corp Joseph B. Selner, 414/433-3203 or GN Bancorp Inc. Eugene P. Mroz, 312/792-0440 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion