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ChoiceOne Financial Services, Inc. Receives Regulatory Approval for Merger with Fentura Financial, Inc.
SPARTA, Mich., Feb. 12, 2025 /PRNewswire/ -- ChoiceOne Financial Services, Inc., (NASDAQ: COFS) ("ChoiceOne"), the parent company of ChoiceOne Bank, today
About this update from Choiceone Financial Services, Inc.
[{"type":"text","content":"SPARTA, Mich., Feb. 12, 2025 /PRNewswire/ -- ChoiceOne Financial Services, Inc., (NASDAQ: COFS) (\"ChoiceOne\"), the parent company of ChoiceOne Bank, today announced the receipt of regulatory approval from the Board of Governors of the Federal Reserve System to complete the merger of Fentura Financial, Inc. (OTCQX: FETM) (\"Fentura\"), the parent company of The State Bank, with and into ChoiceOne, with ChoiceOne continuing as the surviving corporation. Following completion of the merger, the combined organization will be headquartered in Sparta, Michigan and operate under the ChoiceOne name and brand.\n\n \n \n \n \n \n \n\n \n\"We believe this merger is a tremendous opportunity for our customers, communities, employees and shareholders and complements our vision to be the best bank in Michigan,\" said ChoiceOne CEO Kelly Potes. \"Joining forces with Fentura is a natural geographical and cultural fit for ChoiceOne. It allows ChoiceOne to extend our footprint into Genesee, Jackson, Livingston, Ingham, Saginaw, Shiawassee, and Bay counties and enhance the commitment that both The State Bank and ChoiceOne Bank have to our Michigan customers and communities.\"\nFollowing completion of the transaction, ChoiceOne Financial Services, Inc. will be an approximately $4.3 billion-asset bank holding company with 56 offices in West and Southeastern Michigan. The transaction is expected to be effective on March 1, 2025, subject to the satisfaction of customary closing conditions. The bank consolidation is expected to be effective on March 14, 2025.\nAbout ChoiceOne Financial Services, Inc. and ChoiceOne BankChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan, and the parent corporation of ChoiceOne Bank, Member FDIC. ChoiceOne Bank operates 35 offices in parts of Kent, Ottawa, Muskegon, Newaygo, Lapeer, St. Clair, Macomb, and Oakland counties. ChoiceOne is an approximately $2.6 billion-asset bank holding company making it the eighth largest bank holding company in Michigan based on asset size. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. common stock is quoted on the Nasdaq Capital Market under the symbol \"COFS.\" For more information, please visit Investor Relations at ChoiceOne's website ...