Financial Services Acquisitions in Michigan

Merit Financial Advisors has acquired TL Financial Group, a Southgate, Michigan-based wealth management firm, adding approximately $217 million of client assets and establishing Merit's first office in Michigan (Detroit metro). The transaction closed on January 23, 2026; TL founder Tony LaJeunesse will join Merit as wealth manager, area director, and partner. Financial terms were not disclosed.

Mercantile Bank Corporation (NASDAQ: MBWM) has completed its previously announced merger with Eastern Michigan Financial Corporation, bringing Eastern Michigan Bank under Mercantile's bank holding company. Eastern shareholders will receive $32.32 in cash and 0.7116 shares of Mercantile common stock per Eastern share; the combined organization will have approximately $6.9 billion in total assets and Eastern Michigan Bank will operate alongside Mercantile Bank until planned consolidation in Q1 2027, subject to regulatory approvals.

Procyon, an independent registered investment advisory firm and Dynasty network partner headquartered in Shelton, Connecticut, has acquired OLV Investment Group, adding approximately $500 million in assets under management. The deal brings seven financial advisors and roughly 13 support staff onto Procyon’s platform, expanding the firm’s geographic footprint into Michigan and Texas and lifting Procyon’s AUM to nearly $9 billion.

Reseda Group, the CUSO of MSU Federal Credit Union, partnered with Maps Credit Union to acquire Pocketnest, an AI-powered financial wellness platform. The acquisition aims to integrate Pocketnest's behavioral science and generative AI-driven financial guidance into credit union member experiences to improve financial wellness and identify cross-sell opportunities.

Edelman Financial Engines (EFE) has acquired Cahill Wealth Management, a Kalamazoo, Michigan-based registered investment advisor managing approximately $426 million for 125 clients. The deal expands EFE’s Midwest presence and deepens its capabilities serving executives in the pharmaceutical and life sciences industries; Cahill will be fully integrated under the EFE brand.

Grasshopper Bancorp, Inc. (through its subsidiary Grasshopper Bank, N.A.) completed the merger with Auto Club Trust, FSB in a cash-and-stock transaction, making Grasshopper the exclusive provider of depository and lending solutions (excluding credit cards) to more than 13 million AAA–The Auto Club Group members across a 14-state territory. The combined institution has approximately $1.4 billion in assets; Grasshopper raised roughly $34 million in new equity and issued The Auto Club Group an ownership stake, producing a 31% accretion to tangible book value.

EverBank Financial Corp (through EverBank, N.A.) completed the acquisition of Sterling Bank and Trust, F.S.B. from Sterling Bancorp, Inc., acquiring 25 branches, approximately $900 million of loans and about $2.0 billion in deposits. Sterling Bancorp received a fixed purchase price of $261 million and will file a certificate of dissolution as Sterling Bank is merged into EverBank effective April 1, 2025.

ChoiceOne Financial Services, Inc. completed the consolidation of The State Bank into ChoiceOne Bank on March 14, 2025, renaming the acquired bank ChoiceOne Bank. This follows ChoiceOne's March 1, 2025 completion of the merger with Fentura Financial, Inc., creating a combined financial holding company with over $4 billion in assets and an expanded branch network in Michigan.

ChoiceOne Financial Services, Inc. completed the merger of Fentura Financial, Inc. into ChoiceOne effective March 1, 2025, creating a bank holding company with assets exceeding $4 billion and a combined network of 56 offices across Michigan. The combined organization will be headquartered in Sparta, Michigan and expands ChoiceOne's presence into Central and Southeastern Michigan to enhance commercial and consumer lending capabilities and digital and branch banking services.

Mr. Cooper Group Inc. has closed its previously announced acquisition of Flagstar Bank N.A.'s mortgage operations, acquiring MSRs, advances, subservicing contracts, and Flagstar's third-party origination platform for approximately $1.3 billion in cash. The deal expands Mr. Cooper's servicing and origination capabilities and transfers Flagstar's mortgage customers and team members to Mr. Cooper, with full operational integration expected in early 2025.

Bishop Street Underwriters, a RedBird Capital portfolio insurance platform, has acquired Conifer Insurance Services, a specialty commercial managing general agent (MGA), from Conifer Holdings, Inc. The acquisition expands Bishop Street's capabilities into commercial lines (SME, hospitality and auto dealers) and is intended to drive geographic expansion, new product development and add-on synergies for the platform.

Mr. Cooper Group Inc. completed a tender-offer acquisition of Home Point Capital Inc., acquiring approximately 98.5% of outstanding shares and merging Home Point into a Mr. Cooper subsidiary to make it a wholly owned subsidiary. The deal (previously announced at ~$324 million) increases Mr. Cooper's scale in mortgage origination and servicing and includes the assumption of $500 million in bonds while not materially impacting liquidity.

JA Mitsui Leasing Ltd., through its U.S. subsidiary JA Mitsui Leasing Capital Corporation, acquired 100% of Katsumi Global, LLC, a Michigan-headquartered provider of working capital strategies and supply-chain financing solutions. The acquisition is intended to expand JA Mitsui Leasing's business and capabilities in North America by leveraging Katsumi Global's platform, people and experience alongside JAML's financial strength and customer network.

Union Home Mortgage (UHM) has acquired Kalamazoo-based Amerifirst Home Mortgage, bringing Amerifirst’s network of more than 300 licensed loan consultants into UHM’s national mortgage platform. The deal expands UHM’s presence in key markets — including Florida, Michigan, Ohio, North Carolina and California — and strengthens combined capabilities in USDA rural lending programs.

Prime Capital Investment Advisors (PCIA) has acquired substantially all of the assets of Liberty Wealth Advisors, a $1.75 billion wealth planning and investment management firm led by James S. Gladney. The deal brings Liberty's leadership and approximately 15 employees (including five advisors serving ~725 clients across 45+ states) into PCIA and closed on December 9, 2022.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Vintage Financial Services, LLC, a wealth management firm based in Ann Arbor, Michigan. Vintage serves over 500 clients with more than $850 million in AUM and its full team will join Mercer as part of the firm’s expansion of its Michigan footprint.

One80 Intermediaries, a specialty insurance broker headquartered in Boston, acquired Montage, Inc., a Grand Rapids-based provider of furniture, jewelry and watch protection plans. Terms were not disclosed; the acquisition expands One80's warranty and product protection capabilities and distribution through retail partners and direct-to-consumer channels.

Unitas Financial Services has merged with First Service Corporation (FSC), bringing FSC’s loan-portfolio protection and insurance-tracking capabilities into Unitas’s platform. The transaction expands Unitas’s Midwest footprint and broadens its product set for lenders and real-estate investors, including outsourced insurance tracking, blanket mortgage hazard, and Vendor’s Single Interest (VSI) solutions.

AF Group, through its subsidiary Accident Fund Insurance Co. of America, has agreed to acquire AmeriTrust Group. The deal — terms undisclosed — brings AmeriTrust’s specialty commercial property & casualty, workers’ compensation and automotive insurance programs into AF Group’s portfolio, expanding its specialty insurance capabilities.

Stewart Information Services Corporation (NYSE: STC) has acquired Devon Title Agency, a Michigan-based title agency with more than 30 years of operations. The acquisition expands Stewart's scale and market presence in Michigan and brings Devon's team, technology and local relationships into Stewart's national title services platform.

Fentura Financial, Inc., the holding company for The State Bank, completed its acquisition of Farmers State Bank of Munith, expanding The State Bank's branch network and market footprint. The transaction grows the combined company to roughly $1.4 billion in assets and increases branch offices to 20; Farmers' president Jeanne E. Richter will join The State Bank as a senior officer and systems integration is planned for Q1 2022.

Class Valuation, a Troy, Michigan-based appraisal management company backed by Gridiron Capital, has acquired Synergy Appraisal Services. The add-on deal expands Class Valuation's market density in the Midwest and Western U.S., bringing Synergy's 160+ clients and appraiser network onto Class Valuation's technology-enabled platform.

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.

Gridiron Capital has acquired Class Valuation, a Troy, Michigan–headquartered, technology-enabled appraisal management company that serves the nation’s largest mortgage lenders and originators. Narrow Gauge Capital sold its majority stake but will retain a minority ownership position; Gridiron said it will partner with management to drive growth and technology-enabled innovation in residential valuation services.

United Federal Credit Union will acquire the assets and assume the liabilities of Edgewater Bank in an all-cash transaction. Edgewater Bancorp and Edgewater Bank will liquidate and distribute remaining cash to stockholders; the deal expands United's branch network and increases its assets to roughly $3.5 billion.

Creative Planning, an independent wealth management firm based in Overland Park, Kansas, has acquired Starfire Investment Advisers, a Registered Investment Adviser in Southfield, Michigan with approximately $530 million in AUM. The deal expands Creative Planning's presence in the Greater Detroit market and brings Starfire's clients and advisory capabilities onto Creative Planning's platform.

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.

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.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired SD Financial Pathways, LLC, a Dearborn, Michigan-based wealth management firm serving about 85 households with roughly $100 million in AUM. SD Financial will consolidate into Mercer Advisors' Detroit office and founder Steven Deceuninck will join Mercer as part of the transaction.

Narrow Gauge Capital completed a majority acquisition of Class Appraisal, LLC, a Troy, Michigan-based provider of residential real estate valuation and appraisal management services. ICG Strategic Equity and Aberdeen Standard Investments co-invested alongside Narrow Gauge to support Class Appraisal’s continued investment in its service offering and growth.