ChoiceOne Financial Services, Inc. and Fentura Financial, Inc. Shareholders Approve Merger

Core Viewpoint - ChoiceOne Financial Services and Fentura Financial have announced a merger, with Fentura merging into ChoiceOne, which will continue as the surviving entity, enhancing their market position in Michigan [1][2]. Company Overview - ChoiceOne Financial Services, Inc. is headquartered in Sparta, Michigan, and operates as a financial holding company with approximately $2.6 billion in assets, making it the eighth largest bank holding company in Michigan [3]. - Fentura Financial, Inc. is the holding company for The State Bank, which operates 21 offices across several counties in Michigan and focuses on community engagement and customer service [4]. Merger Details - Shareholders from both companies approved the merger on December 12, 2024, with the transaction expected to close in the first quarter of 2025, pending regulatory approvals [1][2]. - Post-merger, the combined entity will have approximately $4.3 billion in assets and 56 offices, positioning it as the third largest publicly traded bank holding company in Michigan based on asset size [2]. Strategic Implications - The merger is anticipated to create efficiencies and new growth opportunities due to limited overlap and disruption between the two organizations [2]. - Both CEOs expressed confidence that the merger will enhance value for shareholders and strengthen community engagement [2].