ChoiceOne Financial Services Acquires Community Shores Bank Corporation
January 6, 2020
ChoiceOne Financial Services, Inc. agreed to acquire Community Shores Bank Corporation in a stock-and-cash merger to create an approximately $1.5 billion asset bank holding company with 33 offices across West and Southeastern Michigan. The transaction expands ChoiceOne's footprint into Muskegon and Ottawa counties and is expected to close in 2020 pending shareholder and regulatory approvals.
- Buyers
- ChoiceOne Financial Services, Inc.
- Targets
- Community Shores Bank Corporation
- Sellers
- Shareholders of Community Shores Bank Corporation (including certain directors and other shareholders party to voting agreements)
- Industry
- Financial Services
- Location
- Michigan, United States
- Transaction Type
- Buyout
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