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EXHIBIT 23.4
(Bank Mutual S-1)
[RP FINANCIAL, LC. LETTERHEAD]
August 28, 2000
Board of Directors
Mutual Savings Bank
4949 West Brown Deer Road
Milwaukee, Wisconsin 53233
Members of the Board of Directors:
We hereby consent to the use of our firm's name in the Form MHC-1 and the
Form MHC-2, and any amendments thereto, for Mutual Savings Bank. We also hereby
consent to the inclusion of, summary of and references to our Appraisal Report,
our Appraisal Update Report and our letter concerning subscription rights in
such filings, and the Registration Statement on Form S-1, as amended, including
the Prospectus of Bank Mutual Corporation.
Sincerely,
RP FINANCIAL, LC.
/s/ Gregory E. Dunn
-------------------------
Gregory E. Dunn
Senior Vice President
