Bank Merger Announced

La Crosse based First Federal announced it has agreed to be purchased by Green Bay based Associated Banc-Corp.

The deal is said to be worth $613 million. Associated is Wisconsin's second largest bank. First Federal ranks fourth.

By buying First Federal, Associated will expand its presence in Wisconsin, Minnesota, and Illinois.

First Federal is a 70-year-old bank with 91 branches and more thank $3.5 billion in assets. The transaction is scheduled to be completed later this summer.

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