HOLLAND, Mich. - First Michigan Bank Corp. said it has completed its acquisition of $140 million-asset Superior Financial Corp., Sault Ste. Marie, Mich., which owns Sault Bank.

First Michigan now has $2.9 billion of assets and 13 community bank affiliates with 80 offices in the state.

In the merger, Superior shareholders exchanged their shares for common stock of First Michigan. The value of the deal was not disclosed. The transaction will be accounted for as a pooling of interests.

The acquired institution, now to be known as FMB-Sault Bank, will retain its charter, management team, and local board of directors.

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