Associated Closes State Financial Acquisition
03 Octubre 2005 - 3:05PM
Business Wire
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.
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