Tri-County Bancorp in Brown City, Mich., has agreed to buy Mayville Financial in Mayville, Mich.
The parent of the $639 million-asset Tri-County Bank said in a press release that it expects to close the purchase of the $97 million-asset Mayville State Bank in the fourth quarter. The price wasn’t disclosed.
“We see in Mayville State Bank a like-minded organization with the same commitment to stellar customer service that is at the core of Tri-County Bank,” Mike Ford, Tri-County’s president and CEO, said in the release. “This transaction will benefit customers by allowing us to offer more product offerings, larger loan limits, and more convenient locations.”
Performance Trust Capital Partners and Warner Norcross + Judd advised Tri-County. Donnelly Penman & Partners and Varnum advised Mayville.