FNBH Bancorp (FNHM) in Howell, Mich., plans to raise up to $1.5 million in a rights offering.

The $311 million-asset company will sell up to 2.3 million shares of common stock at 70 cents each, according to a Friday regulatory filing. Shareholders will be allowed to buy up to six shares of common stock for each share owned as of Jan. 8.

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