D&N Financial Corp., Troy, Mich., said it plans to buy seven branches from First America Bank, a unit of Cleveland's National City Corp.
The deal would give D&N $71 million of deposits and the fixed assets of the branches for an undisclosed price. National City gained control of the branches when it acquired Kalamazoo, Mich.-based First of America Bank Corp. on March 31.
D&N Financial is the holding company of D&N Bank, a $1.9 billion-asset bank with 46 branches in Michigan. The company also operates an insurance agency and a mortgage company.
The deal is expected to close during the third quarter.