ANN ARBOR, Mich. - Great Lakes Bancorp said it completed the sale of five branches in the Lansing, Mich., area to Old Kent Bank and Trust Co.
"The sale is part of our strategy to consolidate our branch system by concentrating our activities in certain key markets." said Robert J. Delonis, Great Lakes' president and chief operating officer.
A remaining step in the thrift company's consolidation plan is the sale, slated for October, of its Clare office to Firstbank, a subsidiary of Firstbank Corp. of Alma, Mich.
Great Lakes, which has $2.8 billion in assets, is concentrating on taking deposits in the Ann Arbor, Battle Creek, and Saginaw areas.