Keweenaw Financial Corp (Superior National Bank) Acquires North Star Financial Holdings and Main Street Bank
February 20, 2020
Keweenaw Financial Corp., parent of Superior National Bank and Trust, completed the acquisition of North Star Financial Holdings, Inc. and its subsidiary Main Street Bank on February 4, 2020, in an all-cash transaction in which North Star shareholders received $42 million. The deal expands Superior National's geographic footprint into Southeast Michigan, increases overall assets and lending capacity, and broadens product offerings including mortgage capabilities.
- Buyers
- Keweenaw Financial Corp., Superior National Bank and Trust
- Targets
- North Star Financial Holdings, Inc., Main Street Bank
- Sellers
- North Star Financial Holdings, Inc. shareholders
- Industry
- Financial Services
- Location
- Michigan, United States
- Transaction Type
- Buyout
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