Bank of Ann Arbor to Acquire Huron Valley State Bank
Bank of Ann Arbor has agreed to acquire Huron Valley State Bank in an all-cash transaction valued at 52.1 million dollars. The deal will expand the bank footprint in Oakland County and create a combined institution with 3.8 billion dollars in assets.
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Arbor Bancorp agreed to acquire Huron Valley Bancorp Inc. in an all-cash deal valued at $52.1 million on Monday. Shareholders will receive $59 per share as Bank of Ann Arbor expands its Oakland County footprint. The combined institution will manage $3.8 billion in assets across 21 regional locations.
