Thumb Bancorp in Pigeon, Mich., has agreed to buy Freeland State Bank in Freeland, Mich.
The $617.1 million-asset Thumb will pay an undisclosed amount of cash for the $54 million-asset Freeland, according to a notice issued by Hovde Group, which represented the buyer.
Freeland has one branch, $45 million of deposit and just $2 million of loans.
The deal is expected to close in the fourth quarter.