GREEN BAY, Wis.--(BUSINESS WIRE)--Oct. 3, 2005--Associated
Banc-Corp (NASDAQ:ASBC) has completed its acquisition of State
Financial Services Corporation (NASDAQ:SFSW), the companies announced
today.
The conversion of State Financial's operating systems to
Associated's platform is scheduled for early November 2005. At that
time the banks' charters will be merged. The combined company will
have more than 320 branch offices and more than 350 ATM locations
throughout Wisconsin, Illinois and eastern Minnesota.
Associated will send all State Financial shareholders a letter of
transmittal within 10 days after the closing. State Financial
shareholders will return that form and will get their Associated
shares within approximately two weeks.
State Financial Bank currently has 29 full-service office
locations in southeastern Wisconsin and northeastern Illinois.
Associated Banc-Corp offers a full range of traditional banking
services and a variety of other financial products and services, with
the No. 1 branch distribution position in most of its key markets.
Associated has been named a Mergent Dividend Achiever based on its
34-year history of dividend increases, is a member of the Forbes
Global 2000, and has been a leading Small Business Administration
lender for many years. More information about Associated Banc-Corp is
available at www.AssociatedBank.com.
Certain matters discussed in this press release are
"forward-looking statements" intended to qualify for the safe harbors
from liability established by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements can generally be
identified as such because the context of the statement will include
words such as "believes," "anticipates" or "expects," or words of
similar import. Such forward-looking statements are subject to certain
risks and uncertainties, which could cause actual results to differ
materially from those currently anticipated. Such risks and
uncertainties include, among others, State Financial's and
Associated's ability to complete the merger in a timely manner or at
all, the risk that the business of State Financial will not be
integrated successfully into Associated, the risk that the cost
savings from the merger may not be fully realized or may take longer
to realize than expected, and other factors discussed in the filings
of Associated and State Financial with the Securities and Exchange
Commission. Investors should consider these factors carefully in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on such forward-looking statements.
CONTACT: Associated Banc-Corp
Joe Selner (Investors), 920-491-7120
or
Cindy Moon-Mogush (Media), 920-431-8034
SOURCE: Associated Banc-Corp