Bank Mutual Names Tom Koepp to Head Investment Real Estate Lending.

MILWAUKEE -- Bank Mutual Corporation announced today that lending veteran Thomas H. Koepp has been hired as Director of Investment Real Estate Lending for Bank Mutual.

Koepp, 58, will have overall responsibility for the origination of investment real estate mortgage loans and for the development and implementation of investment real estate mortgage lending objectives, policies, and practices.

"Tom has a proven track record and will have a major impact on achieving our strategic goals in the important investment real estate lending line of business," stated Michael T. Crowley, Jr., Chairman, President and Chief Executive Officer of Bank Mutual Corporation.

Koepp has over 25 years of experience in investment real estate lending. He joins the bank from the Milwaukee-based St. Francis Bank division of MAF Bancorp, Inc. where he most recently served as 1st Vice President Commercial Real Estate.

Koepp graduated from the University of Wisconsin-Stout with a bachelor's degree in Business Administration.

Bank Mutual Corporation is traded on The NASDAQ Global Select Market(SM) under the symbol "BKMU." The Company is the fourth largest banking institution headquartered in the state of Wisconsin, with assets at March 31, 2006 of $3.45 billion. Its subsidiary bank, Bank Mutual, operates 74 offices in the state of Wisconsin and one office in Minnesota.