Recent Transactions
Union Financial Corporation has Completed a $6.0 Million Subordinated Notes Offering
Union Financial Corporation has Completed a $6.0 Million Subordinated Notes Offering THE TRANSACTION On December 17, 2021, Union Financial Corporation (“Union”), the holding company for Union Bank, announced the closing of a private placement of $6.0 million in aggregate principal amount of its 3.50% fixed-to-floating rate subordinated notes due 2031 (the “Notes”). The Company intends…
Read MoreProgress Mfg. Inc. has been Acquired by DexKo Global
Progress Mfg. Inc. has been Acquired by DexKo Global THE TRANSACTION On December 8, 2021, Progress Mfg. Inc. (“Progress”), a leading manufacturer of high-quality, custom-engineered, safety-critical towing and trailering products, such as integrated sway control and weight distribution hitches, announced that it has been acquired by Dexter Axle Company (“Dexter”), a wholly-owned subsidiary of DexKo…
Read MoreFirst Independence Corporation has Completed a Preferred Stock Offering.
First Independence Corporation has Completed a Preferred Stock Offering. THE TRANSACTION On December 1, 2021, Detroit based First Independence Corporation, parent company of First Independence Bank, a minority depository institution, announced that it has closed equity capital investments with three commercial banking institutions. The 51 year old financial institution received equity investments from Citicorp, headquartered…
Read MoreFarmers State Bank of Munith has been acquired by Fentura Financial, Inc.
Farmers State Bank of Munith has been acquired by Fentura Financial, Inc. THE TRANSACTION On June 22, 2021, the boards of directors of Fentura Financial, Inc. (OTCQX: FETM), the holding company for Fenton-based The State Bank, and Farmers State Bank based in Munith, today announced the execution of a definitive agreement by which Fentura Financial,…
Read MoreFNBH Bancorp, Inc. has merged with Arbor Bancorp, Inc.
FNBH Bancorp, Inc. has merged with Arbor Bancorp, Inc. THE TRANSACTION On August 9, 2021 Arbor Bancorp, Inc., the holding company for Bank of Ann Arbor (“Arbor”), and FNBH Bancorp, Inc., the holding company for First National Bank in Howell (“First National”) (OTC Pink: FNHM), announced they have entered into a definitive agreement for Arbor…
Read MoreHorizon Bank has Acquired 14 TCF National Bank Branches
Horizon Bank has Acquired 14 TCF National Bank Branches THE TRANSACTION On May 25, 2021, Horizon Bank, a wholly owned subsidiary of Horizon Bancorp, Inc. (NASDAQ GS: HBNC) (“Horizon”), has entered into a definitive purchase and assumption agreement to acquire 14 TCF National Bank (“TCF”) branches in 11 Michigan counties with approximately $976 million in…
Read MoreNicolet National Bank has agreed to sell its Birmingham, MI branch to Bank of Ann Arbor.
Nicolet National Bank has agreed to sell its Birmingham, MI branch to Bank of Ann Arbor. THE TRANSACTION On September 7, 2021, Nicolet Bankshares, Inc. (NASDAQ: NCBS) (“Nicolet”) announced that its wholly owned banking subsidiary, Nicolet National Bank, has entered into a definitive purchase and assumption agreement to sell its Birmingham, Michigan branch, including legacy…
Read MoreGlobal Automotive Systems has been Acquired by Advanced Vehicle Assemblies
Global Automotive Systems has been Acquired by Advanced Vehicle Assemblies THE TRANSACTION On April 27, 2021, Global Automotive Systems, LLC (“GAS” or the “Company”), a leading global supplier of complex, structural metal assemblies and components to the automotive market, announced that it has sold substantially all of its assets to Advanced Vehicle Assemblies, LLC (“AVA”).…
Read MoreEdgewater Bank and United Federal Credit Union Announce Strategic Acquisition
Edgewater Bank has been acquired by United Federal Credit Union THE TRANSACTION On October 27, 2020, United Federal Credit Union (“United”), and Edgewater Bancorp, Inc. (“Edgewater”) (OTCPK: EGDW), the holding company of Edgewater Bank, announced that they had signed a definitive purchase and assumption agreement whereby United, headquartered in St. Joseph, Michigan, will acquire the…
Read MoreUnion Financial Corporation has Completed a $6.0 Million Common Stock Offering
Union Financial Corporation has Completed a $6.0 Million Common Stock Offering THE TRANSACTION On March 31, 2021, Union Financial Corporation (“Union”), the holding company for Union Bank, announced that it has completed the issuance of its common stock for a total of $6.0 million in gross proceeds. The offering was made to “accredited” investors only…
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