ChoiceOne Financial Services, the parent company of ChoiceOne Bank, received regulatory approval from the board of governors of the Federal Reserve System to complete the merger of Fentura Financial, 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, MI and operate under the ChoiceOne name and brand.
“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,” Kelly Potes, CEO of ChoiceOne, said. “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.”
Following completion of the transaction, ChoiceOne Financial Services 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.
