HOLLAND, Mich. - First Michigan Bank Corp. said it signed a letter of intent to acquire Old State Bank Corp., a $54 million-asset bank holding company in Fremont, Mich., in a stock swap.

First Michigan said the market value of its shares and the equity of Old State Bank shareholders will determine the number of shares to be distributed to Old State shareholders.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.