GTSB Financial, Inc. has Completed its Initial Common Stock Offering

On December 18, 2024, Traverse City-based GTSB Financial, Inc. (“GTSB”), a locally-owned and managed Bank Holding Company, completed its initial common stock offering, raising $19.7 million in gross capital exceeding the minimum offering amount of $14.5 million.

Previously on October 30, 2024, GTSB completed its acquisition of First State Bank of Decatur (the “Bank”) using initial proceeds from this offering.

GTSB is led by Michigan native Gregg Bigger along with financial industry veteran executive Rob Farr, who serves as President.  GTSB was founded in 2024 and is headquartered in Traverse City, Michigan. GTSB operates in Decatur, Michigan, following its acquisition of First State Bank of Decatur.