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David A. Baumgarten Joining Bank Mutual as President

Since 2001, Mr. Baumgarten has served as a senior banking executive with Associated Bank, including in the positions of Executive Vice President, Regional Banking and Regional President of Associated Bank's Southeast region. Mr. Baumgarten also served as a director of Associated Bank and a director of Associated Financial Group, LLC (a subsidiary of Associated Bank).

From 1979 to 2001, Mr. Baumgarten served in various roles with U.S. Bank, including among other positions, as President and Chief Executive Officer of U.S. Bank, Wisconsin and as President and Chief Executive Officer of U.S. Bank, Colorado.

Mr. Baumgarten currently serves on the boards of directors of the Metropolitan Milwaukee Association of Commerce, the Wisconsin Policy Research Institute, the Milwaukee Development Corporation, the Boys & Girls Club of Greater Milwaukee, the Greater Milwaukee Committee and the Advisory Board of the University of Wisconsin-Milwaukee School of Business.

"Dave comes to Bank Mutual with an extensive background in commercial banking and leadership. We look forward to having him as an integral part of our management team," said Michael T. Crowley, Jr., Chairman, President and CEO of Bank Mutual Corporation.

Mr. Baumgarten said, "I'm excited about the opportunity to work with the team Mike has assembled at Bank Mutual and being a part of the company's future success".

Mr. Baumgarten earned his bachelor's and master's degrees in business administration from the University of Wisconsin-Madison.

Bank Mutual Corporation is traded on The NASDAQ Global Select Market(SM) under the symbol "BKMU." The Company is the fifth largest banking institution headquartered in the state of Wisconsin, with assets at December 31, 2009 of $3.5 billion. Its subsidiary bank, Bank Mutual, operates 78 offices in the state of Wisconsin and one office in Minnesota.

SOURCE Bank Mutual