In Brief: Associated Banc-Corp Moving into Chicago

GREEN BAY, Wis. - Associated Banc-Corp is expanding into Chicago.

The $3.28 billion-asset company has announced a definitive agreement to acquire GN Bancorp, which owns $130 million-asset Gladstone-Norwood Trust and Savings Bank.

The stock-swap merger is expected to be completed during the third quarter. The acquisition price was not disclosed.

Associated currently owns $271 million-asset Associated Bank Chicago, which is located downtown. GN Bancorp serves the northwest part of Chicago.

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