Chemical Bank South, a subsidiary of $1.8 billion-asset Chemical Financial Corp., Midland, Mich., has a deal to buy a branch from Great Lakes National Bank.
Chemical would buy Great Lakes' Albion, Mich., branch for an undisclosed price. Once the deal is closed-scheduled to occur during November-Chemical would move its existing Albion branch into the new building.
"The new office space will allow improved services for our current customers, and combined operations should enhance the services available to customers of the Great Lakes branch," said Judith A. Borowitz, president and chief executive officer of Chemical Bank South.
Chemical Financial Corp. operates branches in 24 Michigan counties. Great Lakes is a subsidiary of TCF Financial Corp., Minneapolis, a $9.4 billion-asset holding company.