When Green Bay, Wis.-based Associated Banc-Corp announced last May it was buying in-state rival First Financial Inc., it estimated merger charges would be at least $40 million.

But in its fourth-quarter earnings report, Associated said its merger- related charges were actually more than twice as high-$90 million after taxes.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.