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ASSOCIATED BANC-CORP EXPANDS DOWNTOWN CHICAGO BASE

 GREEN BAY, Wis., Jan. 28 /PRNewswire/ -- H.B. Conlon, chairman and chief executive officer for Associated Banc-Corp (NASDAQ: ASBC), and Joseph D. Mathewson, chairman of Mid-America National Bancorp, Inc., Chicago, today announced the signing of a letter of intent whereby Associated would acquire Mid-America National Bancorp, the parent company of the $60 million Mid-America National Bank of Chicago, in a stock-for-stock merger transaction.
 The transaction, which is contingent on completion of a definitive agreement and approval by regulatory authorities and the shareholders of Mid-America National Bancorp, is expected to be completed by mid-1993.
 Conlon said, "Mid-America's addition to the company will be key to our long term growth strategy in Chicago."
 George J. McCarthy, president and chief executive officer of the $227 million Associated Bank Chicago, headquartered in the Amoco Building, added, "Associated provides highly personalized financial services to individuals and small to mid-sized businesses in downtown Chicago. Mid-America's banking office in the Prudential Building will enhance our ability to service the financial needs of this marketplace."
 Mathewson commented, "We believe that joining Associated's network of quality banks enhances the resources and products available to our commercial and retail customers."
 Last month Associated announced a definitive agreement to acquire the $75 million Wausau Financial Corporation and its subsidiary Citizens Bank & Trust, Wausau, Wis. When the two transactions are completed Associated will have 80 offices with more than $3.0 billion in assets.
 Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified multibank holding company with more than 75 banking locations in Wisconsin and Illinois offering a variety of financially related services to complement its traditional line of banking products.
 -0- 1/28/93
 /CONTACT: Mary K. Magyar of Associated Banc-Corp, 414-765-0638; George McCarthy, president and CEO of Associated Bank Chicago, 312-861-1000; Joseph B. Selner, CFO of Associated Banc-Corp, 414-433-3166; or Joseph D. Mathewson, chairman of Mid-America National Bank of Chicago, 312-664-0800/
 (ASBC)


CO: Associated Banc-Corp; Mid-America National Bancorp, Inc. ST: Wisconsin, Illinois IN: FIN SU: TNM

KK -- CL015 -- 0321 01/28/93 13:44 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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