In Brief: Shoreline Financial of Michigan Has Deal

Shoreline Financial Corp., Benton Harbor, Mich., has agreed to acquire $29.3 million-asset State Bank of Coloma.

Terms of the deal were not disclosed.

Wayne R. Koebel, Shoreline's chief financial officer, said the $877 million-asset company had wanted for several years to establish a branch in Coloma but was waiting for the right opportunity. State Bank of Coloma "will amount to a nice-size branch for us," he said.

Mr. Koebel said the two parties are still determining whether State Bank of Coloma's 20 shareholders will receive Shoreline stock or a stock-and- cash combination.

The deal is expected to close by the end of the first quarter, Mr. Koebel said.

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