Eastern Michigan Financial Corporation to Purchase Ruth State Bank

Eastern Michigan Financial Corp and Ruth Bank Corp have entered into an agreement whereby Eastern Michigan Financial Corp will acquire Ruth Bank Corp and its wholly owned subsidiary Ruth State Bank. It is anticipated the transaction will be completed sometime in the first quarter of 2016, pending re...

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Bibliographic Details
Published inMichigan Banker Vol. 27; no. 12; p. 48
Format Trade Publication Article
LanguageEnglish
Published Lansing Public Relation Enterprises, Inc 01.12.2015
Subjects
Agreements
Bank acquisitions & mergers
Community
Parent companies
Regulatory approval
United States > US
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Summary:Eastern Michigan Financial Corp and Ruth Bank Corp have entered into an agreement whereby Eastern Michigan Financial Corp will acquire Ruth Bank Corp and its wholly owned subsidiary Ruth State Bank. It is anticipated the transaction will be completed sometime in the first quarter of 2016, pending regulatory approval and other customary closing conditions. Both parent companies are located in the heart of Michigan's Thumb area and have long histories with the local community. Headquartered in Croswell, MI, Eastern Michigan Financial Corp is the holding company for Eastern Michigan Bank. Established in 1907, Ruth State Bank operates from a single location in Ruth, MI.
ISSN:1044-1948