BANK MUTUAL CORPORATION (NASDAQ:BKMU) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07.
At the special meeting of shareholders of Bank Mutual Corporation, a Wisconsin corporation (the “Company”) on October 24, 2017 (the “Special Meeting”), the Company’s shareholders: (i) approved the Agreement and Plan of Merger, dated as of July 20, 2017 (the “Merger Agreement”), by and between Associated Banc-Corp, a Wisconsin corporation, and the Company; and (ii) approved, in an advisory (non-binding) vote, certain compensation arrangements for the Company’s named executive officers in connection with the merger contemplated by the Merger Agreement. There were 45,932,253 outstanding shares eligible to vote as of September 12, 2017, the record date for the Special Meeting.
The proposal to approve the Merger Agreement received the following votes:
| Votes for approval: | 33,079,173 |
| Votes against: | 1,123,976 |
| Abstentions: | 350,442 |
The advisory proposal to approve certain compensation, as described above, received the following votes:
| Votes for approval: | 27,873,286 |
| Votes against: | 5,847,181 |
| Abstentions: | 833,124 |
Because there were sufficient votes to approve the Agreement and Plan of Merger and the compensation arrangements, no vote was called to adjourn the Special Meeting to solicit additional votes.
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About BANK MUTUAL CORPORATION (NASDAQ:BKMU)
Bank Mutual Corporation is a savings and loan holding company. The Company owns Bank Mutual (the Bank), a federally-chartered savings bank. The Company operates through community banking segment. The Bank is engaged in the business of community banking, which includes attracting deposits from and making loans to the general public and private businesses, as well as governmental and non-profit entities. In addition to deposits, the Bank obtains funds through borrowings from the Federal Home Loan Bank (FHLB) of Chicago. These funding sources are used to originate loans, including commercial and industrial loans, multi-family residential loans, non-residential commercial real estate loans, one- to four-family loans, home equity loans and other consumer loans. The Bank also purchases and/or participates in loans from third-party financial institutions and is a seller of residential loans in the secondary market. It also invests in mortgage-related and other investment securities.
