Mayville Financial Corporation has agreed to merge with Tri-County Bancorp, Inc.
THE TRANSACTION
On May 7, 2026, Tri-County Bancorp, Inc. and Mayville Financial Corp. announced they have entered into a definitive agreement for Mayville to merge into Tri-County.
Based in Brown City, Tri-County Bancorp is the holding company of Tri-County Bank, which has approximately $639 million in assets. Founded in 1889, the community bank employs 95 people in its headquarters and 12 locations in Michigan’s Thumb.
Based in Mayville, Mayville Financial is the holding company of Mayville State Bank, which has approximately $97 million in assets. Founded in 1885, the community bank has 25 people working in locations in Mayville and Millington.
Pending regulatory and Mayville Financial shareholder approval, the transaction is expected to close in the fourth quarter of this year. The combined bank, which will operate under the Tri-County brand, will have 14 locations and total assets of approximately $735 million.
Donnelly Penman & Partners acted as financial advisor to Mayville Financial Corporation, and the law firm of Varnum, LLP, acted as its legal counsel.
Our Client
Mayville Financial Corporation
Mayville Financial Corporation is a Michigan corporation and the bank holding company for Mayville State Bank, a Michigan-chartered commercial bank based in Mayville, Michigan. Mayville State Bank was founded in 1885 and operates 2 full-service branch offices in the central Thumb region of Michigan. As of March 31, 2026, Mayville State Bank had total assets of approximately $97 million.
Transaction Partner
Tri-County Bancorp, Inc.
Tri-County Bancorp, Inc. opened its doors for business in 1889 in Brown City, Michigan. With its corporate headquarters located today in Brown City, Michigan, Tri-County Bancorp, Inc. had approximately $639 million in total assets as of March 31, 2026, and operates 12 full-service locations stretching across eastern Michigan. The bank’s mission is to provide quality customer satisfaction, foster employee camaraderie, and to support the communities we serve with our active involvement and economic support.
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