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David A. Baumgarten Joining Bank Mutual As President

MILWAUKEE, April 8 /PRNewswire-FirstCall/ -- Bank Mutual (the "Bank"), a wholly-owned subsidiary of Bank Mutual Corporation (the "Company"), has appointed David A. Baumgarten as President of the Bank, effective as of April 12, 2010.  Michael T. Crowley, Jr. will remain as Chairman and Chief Executive Officer of the Bank (although relinquishing the title of President) and as Chairman, Chief Executive Officer and President of the Company.  Mr. Baumgarten was also elected to serve as a director of the Bank, effective as of the close of business on April 19, 2010.

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".

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