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2007 - Southern Michigan

Southern Michigan Bancorp, Inc. has acquired FNB First National Bank of Three Rivers

THE TRANSACTION

Southern Michigan Bancorp, Inc. ("Southern Michigan") has acquired FNB First National Bank of Three Rivers, a subsidiary of FNB Financial Corporation ("FNB"). FNB First National Bank of Three Rivers has converted from a national charter to a Michigan State chartered bank and will be called FNB Financial. Both Southern Michigan and FNB Financial will continue to serve their respective clients as individually-chartered banks.

Our Client

SOUTHERN MICHIGAN BANCORP, INC.

Southern Michigan Bancorp, Inc. is a bank holding company headquartered in Coldwater, Michigan, with assets of approximately $350.9 million and total shareholders' equity of $30.7 million as of September 30, 2007. As of September 30, 2007, Southern Michigan operated 11 branches within Branch, Calhoun and Hillsdale Counties in Michigan.

Transaction Partner

FNB FINANCIAL CORPORATION

FNB Financial Corporation is a bank holding company headquartered in Three Rivers, Michigan, with total assets of $141.0 million, total deposits of $122.7 million and total shareholders' equity of $12.7 million, all as of September 30, 2007. As of September 30, 2007, FNB provided banking services through 7 offices located within St. Joseph and Cass Counties in Michigan.

CONTACT

Managing Director
Financial Institutions