ChoiceOne Completes Merger with Fentura, Reaches $4B in Assets
Deal News | Mar 04, 2025 | EIN
ChoiceOne Financial Services Inc. and Fentura Financial Inc. have completed their merger to form a combined bank holding company with assets surpassing $4 billion. This new entity will operate 56 offices throughout Michigan, with its headquarters in Sparta, near Grand Rapids. The State Bank will be consolidated into ChoiceOne Bank, effective March 14, and will adopt the ChoiceOne brand. The merger is presented as a 'geographical and cultural fit', designed to extend ChoiceOne's reach into central and southeast Michigan. CEO Kelly Potes of ChoiceOne lauds the merger for expanding lending capabilities and technological advancements. The integration aims to offer enhanced products and services through an improved retail network, benefiting shareholders, customers, and employees.
Sectors
- Financial Services
- Banking
Geography
- United States – The merger involves companies that are based in and operate across Michigan, USA.
- Michigan – Both ChoiceOne Financial Services and Fentura Financial are based in Michigan, with the merger strengthening their presence in this state.
Industry
- Financial Services – The article discusses the merger of two financial institutions, focusing on their consolidation and asset management in the banking sector.
- Banking – The primary focus of the article is on the merging of banking entities to form a larger banking institution in Michigan, highlighting operations and services in the region.
Financials
- $4 billion – Combined assets of the new entity formed from the merger of ChoiceOne Financial Services and Fentura Financial Inc.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ChoiceOne Financial Services Inc. | Acquirer | Company | A bank holding company based in Sparta, Michigan, now leading the merger with Fentura Financial Inc. |
| Fentura Financial Inc. | Target Company | Company | A financial services company based in Fenton, Michigan, merged into ChoiceOne Financial Services. |
| Kelly Potes | CEO of ChoiceOne Financial Services | Person | CEO overseeing the operations and merger activities at ChoiceOne. |