Mercantile Bank Corporation Completes Merger with Eastern Michigan Financial Corporation

Eastern Bankshares, Inc. Acquires HarborOne Bancorp, Inc.

November 1, 2025

Financial Services

Eastern Bankshares, Inc. completed the previously announced merger with HarborOne Bancorp, Inc., effective November 1, 2025. Under the merger agreement HarborOne shareholders received either Eastern stock (subject to proration) or cash, and Eastern issued approximately 26.94 million shares in connection with the transaction, expanding Eastern’s branch and commercial banking footprint in eastern Massachusetts and Rhode Island.

Nicolet Bankshares Acquires Mackinac Financial Corporation (mBank)

April 12, 2021

Financial Services

Nicolet Bankshares, Inc. agreed to acquire Mackinac Financial Corporation and its wholly owned subsidiary mBank in a transaction valued at approximately $248 million. The deal, consisting of roughly 80% stock and 20% cash, expands Nicolet's community banking footprint into Northern Michigan and is expected to close in Q3 2021 subject to regulatory and shareholder approvals.

Banc of California Acquires Pacific Mercantile Bancorp

March 22, 2021

Financial Services

Banc of California, Inc. (NYSE: BANC) agreed to acquire Pacific Mercantile Bancorp (NASDAQ: PMBC) in an all-stock transaction announced March 22, 2021 and completed on October 18, 2021. The deal was valued at approximately $235 million at announcement (consideration reported at about $226 million at close) and expands Banc of California's Southern California business-banking franchise by adding roughly $1.5 billion in assets, ~$1.3 billion in deposits and ~$980 million in gross loans.

Merchants & Marine Bancorp Acquires Mississippi River Bank

September 20, 2023

Financial Services

Merchants & Marine Bancorp, Inc. (MNMB) signed a definitive agreement to acquire Mississippi River Bank, a Belle Chasse, Louisiana-based community bank with approximately $127.7 million in assets. Mississippi River Bank will continue to operate under its existing brand as a division of Merchants & Marine Bank; the target's CEO Mike Bush and President/COO Lisa Works will remain in their roles. The acquisition is subject to shareholder and regulatory approvals and is expected to close in Q1 2024.

SouthPoint Bancshares Acquires Merchants Financial Services

January 6, 2022

Financial Services

SouthPoint Bancshares, Inc. completed a strategic merger with Merchants Financial Services, Inc., with SouthPoint as the surviving entity. Merchants Bank of Alabama was merged into SouthPoint Bank as a division, creating a combined organization with over $1.0 billion in assets, approximately $0.9 billion in deposits and 10 branches, extending SouthPoint’s franchise along the I‑65 corridor into Cullman, Hanceville and Arab, Alabama.

Mid Penn Bancorp Acquires William Penn Bancorporation

April 30, 2025

Financial Services

Mid Penn Bancorp, Inc. completed its all-stock acquisition of William Penn Bancorporation on April 30, 2025 in a transaction valued at approximately $120 million. The merger combines William Penn Bank into Mid Penn Bank, expands Mid Penn’s footprint into the Greater Philadelphia and Southern New Jersey regions, and results in consolidated assets of about $6.3 billion; William Penn’s CEO Kenneth J. Stephon joins Mid Penn’s board and senior leadership.