Acquisitions

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Acquisitions

Acquisitions

Completed Acquisitions

During the first quarter of 2017, the Corporation completed a small insurance acquisition to complement its existing insurance and benefits related products and services provided by Associated Benefits and Risk Consulting ("ABRC"). The Corporation recorded goodwill of $55,000 and other intangibles of $162,000 related to the insurance acquisition.

During the first quarter of 2016, the Corporation completed two small insurance acquisitions to complement its existing insurance and benefits related products and services provided by ABRC. The Corporation recorded goodwill of $3 million and other intangibles of $1 million related to these insurance acquisitions.

See Note 8 for additional information on goodwill and other intangible assets.

Acquisitions Update

On October 2, 2017, the Corporation completed its previously announced acquisition of Whitnell & Co., a wealth management family services firm based in Oak Brook, IL.

On July 20, 2017, the Corporation and Bank Mutual Corporation ("Bank Mutual") jointly announced that they had entered into an Agreement and Plan of Merger, dated as of July 20, 2017 (the "Merger Agreement") under which Bank Mutual will merge with and into the Corporation. Under the terms of the Merger Agreement, Bank Mutual's shareholders will receive 0.422 shares of Corporation common stock for each share of Bank Mutual's common stock. Subject to customary closing conditions, including regulatory approvals and approval by the Bank Mutual shareholders, the transaction is expected to close in the first quarter of 2018.