Tracked deals
36
36 tracked deals across 2018-2026.
Financial Services Buyers & Acquisitions in Michigan
Buyer mix
Strategic-led
41 strategic · 6 pe
Top trend
Volume peaked in 2026
8 tracked deals announced in 2026.
Primary Insight
What Stands Out
- Community bank consolidation remains prominent, including merger announcements expected to close in Q4 2026 with post-close conversion planning mentioned in at least one case.
- Wealth management and RIA rollups target client assets and senior investment teams (e.g., F.L.Putnam Investment Management acquiring Arcadia Investment Management, and Procyon acquiring OLV Investment Group).
- Credit union expansion includes both platform acquisitions (e.g., AI-powered guidance via Reseda Group and Maps Credit Union acquiring Pocketnest) and banking/brand integration (e.g., ELGA Credit Union acquiring Marine Bank & Trust).
- Geographic strategy commonly references growth corridors and regional coverage within Michigan, such as between Grand Rapids and Lansing or expansion into Eastern and Southeast Michigan.
| Deal type | Examples from Michigan transactions |
|---|---|
| Bank/community bank merger | Keweenaw Financial Corp. + Range Financial Corp.; Isabella Bank Corporation + Grand River Commerce |
| RIA/wealth advisory acquisition | Merit Financial Advisors + TL Financial Group; Edelman Financial Engines + Cahill Wealth Management |
| Credit union-led / fintech-enabled | Reseda Group + Maps Credit Union + Pocketnest; ELGA Credit Union + Marine Bank & Trust |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| ChoiceOne Financial Services, Inc. | 3 | Publicly traded financial holding company and parent of C... | Strategic |
| Gridiron Capital | 2 | Middle-market private equity firm focused on partnering w... | PE |
| Keweenaw Financial Corp. | 2 | Holding company for Superior National Bank, providing com... | Strategic |
| Mercer Global Advisors, Inc. (Mercer Advisors) | 2 | National registered investment adviser providing wealth m... | Strategic (PE-backed) |
| Mr. Cooper Group Inc. | 2 | Publicly traded mortgage servicer and lender providing se... | Strategic |
| AF Group | 1 | Holding company whose affiliated insurance brands provide... | Strategic |
| Aberdeen Standard Investments | 1 | Global asset manager providing investment and asset-manag... | Investor |
| Accident Fund Insurance Co. of America | 1 | Insurance company specializing in workers' compensation i... | Strategic |
| Bishop Street Underwriters | 1 | Multi-boutique insurance platform that partners with MGAs... | PE |
| ChoiceOne Bank | 1 | Regional community bank operating a network of Michigan b... | Strategic |
Acquisition Volume in Financial Services in Michigan by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Keweenaw Financial Corp., Range Financial Corp.
- Target
- Superior National Bank, Range Bank
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Keweenaw Financial Corp. and Range Financial Corp. entered into a definitive all-stock merger agreement to combine their subsidiaries, Superior National Bank and Range Bank, to form Superior Range Bank. The deal is expected to close in the fourth quarter of 2026, with bank and core systems conversion anticipated in spring 2027.
-
- Buyer
- Isabella Bank Corporation, Isabella Bank
- Target
- Grand River Commerce, Inc., Grand River Bank
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Isabella Bank Corporation (NASDAQ: ISBA) has entered into an Agreement and Plan of Merger to acquire Grand River Commerce, Inc. (OTCQX: GNRV) in a cash-and-stock deal valued at approximately $54.6 million. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.
-
May 7, 2026
- Buyer
- Tri-County Bancorp, Inc.
- Target
- Mayville Financial Corp.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Tri-County Bancorp, Inc. entered into a definitive agreement to merge with Mayville Financial Corporation, with Mayville merging into Tri-County. Following completion, the combined organization operates 14 full-service offices across eastern Michigan and the Thumb region and has approximately $734 million in total assets.
-
- Buyer
- F.L.Putnam Investment Management Company (FLP)
- Target
- Arcadia Investment Management Corporation (Arcadia)
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
F.L.Putnam Investment Management Company (FLP) acquired Arcadia Investment Management Corporation, an independent registered investment adviser based in Kalamazoo, Michigan, with more than $670 million in assets under management. The deal closed on March 31, 2026 and establishes FLP’s first Midwest office in Kalamazoo while adding Arcadia’s senior investment team.
-
March 20, 2026
- Buyer
- Independent Bank Corporation
- Target
- HCB Financial Corp.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Independent Bank Corporation entered into a definitive merger agreement to acquire HCB Financial Corp., the parent of Highpoint Community Bank, in a cash-and-stock transaction valued at approximately $70.2 million. The deal is designed to expand Independent Bank’s presence across a key Michigan growth corridor between Grand Rapids and Lansing and strengthen its funding and product capabilities.
-
- Buyer
- ELGA Credit Union
- Target
- Marine Bancorp of Florida, Inc., Marine Bank & Trust Company
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
ELGA Credit Union completed its acquisition of Marine Bancorp of Florida, Inc., the holding company for Marine Bank & Trust Company. Under the terms of the agreement, Marine Bank shareholders received $43.75 in cash per share, and Marine Bank was rebranded as Marine – A Division of ELGA Credit Union.
-
January 23, 2026
- Buyer
- Merit Financial Advisors
- Target
- TL Financial Group
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
January 2, 2026
- Buyer
- Mercantile Bank Corporation
- Target
- Eastern Michigan Financial Corporation, Eastern Michigan Bank
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Mercantile Bank Corporation completed its previously announced merger with Eastern Michigan Financial Corporation (EFIN), combining two Michigan-based financial institutions in a cash-and-stock transaction valued at approximately $95.8 million. The deal expands Mercantile’s footprint in Eastern and Southeast Michigan and provides a transition period through first quarter 2027 before consolidating Eastern Michigan Bank into Mercantile Bank, subject to regulatory approvals.
-
December 14, 2025
- Buyer
- Procyon
- Target
- OLV Investment Group
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
October 29, 2025
- Buyer
- Reseda Group, Maps Credit Union
- Target
- Pocketnest
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
- Buyer
- Edelman Financial Engines
- Target
- Cahill Wealth Management
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
- Buyer
- Grasshopper Bancorp, Inc., Grasshopper Bank, N.A.
- Target
- Auto Club Trust, FSB
- Seller
- The Auto Club Group (ACG)
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Grasshopper Bancorp, Inc. (via its banking subsidiary Grasshopper Bank) completed its previously announced merger with Auto Club Trust, FSB. The cash-and-stock transaction makes Grasshopper Bank the exclusive provider of certain depository and lending services to more than 13 million AAA members in The Auto Club Group’s 14-state territory, effective April 1, 2025.
-
- Buyer
- EverBank Financial Corp
- Target
- Sterling Bank and Trust, F.S.B.
- Seller
- Sterling Bancorp, Inc.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
EverBank Financial Corp completed its acquisition of Sterling Bank and Trust, F.S.B. from Sterling Bancorp, Inc. The deal adds 25 Sterling Bank branches in the San Francisco Bay Area and Los Angeles/Orange County, plus a branch in Flushing, New York.
-
March 14, 2025
- Buyer
- ChoiceOne Financial Services, Inc., ChoiceOne Bank
- Target
- The State Bank, Fentura Financial, Inc.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
- Buyer
- ChoiceOne Financial Services, Inc.
- Target
- Fentura Financial, Inc.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
ChoiceOne Financial Services, Inc. (NASDAQ: COFS) and Fentura Financial, Inc. (OTCQX: FETM) announced a definitive all-stock merger agreement under which Fentura would merge with and into ChoiceOne, with ChoiceOne as the surviving corporation. The deal was completed effective March 1, 2025, with the combined organization headquartered in Sparta, Michigan, operating 56 offices across Michigan.
-
November 1, 2024
- Buyer
- Mr. Cooper Group Inc.
- Target
- Flagstar Bank N.A. mortgage operations
- Seller
- Flagstar Bank N.A.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Divestiture
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.
-
September 5, 2024
- Buyer
- Bishop Street Underwriters, RedBird Capital Partners
- Target
- Conifer Insurance Services
- Seller
- Conifer Holdings, Inc.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Addon
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.
-
July 31, 2023
- Buyer
- Mr. Cooper Group Inc.
- Target
- Home Point Capital Inc.
- Seller
- Home Point Capital Inc. shareholders
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
July 13, 2023
- Buyer
- JA Mitsui Leasing Ltd., JA Mitsui Leasing Capital Corporation
- Target
- Katsumi Global, LLC
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
December 21, 2022
- Buyer
- Union Home Mortgage
- Target
- Amerifirst Home Mortgage
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
December 9, 2022
- Buyer
- Prime Capital Investment Advisors (PCIA)
- Target
- Liberty Wealth Advisors
- Seller
- Liberty Wealth Advisors
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
December 6, 2022
- Buyer
- Mercer Global Advisors, Inc. (Mercer Advisors)
- Target
- Vintage Financial Services, LLC
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Addon
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.
-
August 30, 2022
- Buyer
- One80 Intermediaries
- Target
- Montage, Inc.
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
- Buyer
- Unitas Financial Services
- Target
- First Service Corporation (FSC)
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
April 12, 2022
- Buyer
- AF Group, Accident Fund Insurance Co. of America
- Target
- AmeriTrust Group
- Seller
- Fosun International Limited
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
December 16, 2021
- Buyer
- Stewart Information Services Corporation
- Target
- Devon Title Agency
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
December 1, 2021
- Buyer
- Fentura Financial, Inc., The State Bank
- Target
- Farmers State Bank of Munith
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
- Buyer
- Class Valuation, Gridiron Capital
- Target
- Synergy Appraisal Services
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Addon
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.
-
- Buyer
- Nicolet Bankshares, Inc.
- Target
- Mackinac Financial Corporation, mBank
- Seller
- Mackinac Financial Corporation shareholders
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
April 8, 2021
- Buyer
- Gridiron Capital
- Target
- Class Valuation
- Seller
- Narrow Gauge Capital
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
October 27, 2020
- Buyer
- United Federal Credit Union
- Target
- Edgewater Bank
- Seller
- Edgewater Bancorp, Inc., Edgewater Bank, Edgewater stockholders
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Divestiture
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.
-
June 30, 2020
- Buyer
- Creative Planning, Inc.
- Target
- Starfire Investment Advisers
- Seller
- Ron Humenny (President, Starfire Investment Advisers)
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
February 20, 2020
- Buyer
- Keweenaw Financial Corp., Superior National Bank and Trust
- Target
- North Star Financial Holdings, Inc., Main Street Bank
- Seller
- North Star Financial Holdings, Inc. shareholders
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
- Buyer
- ChoiceOne Financial Services, Inc.
- Target
- Community Shores Bank Corporation
- Seller
- Shareholders of Community Shores Bank Corporation (including certain directors and other shareholders party to voting agreements)
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
December 19, 2019
- Buyer
- Mercer Global Advisors, Inc. (Mercer Advisors)
- Target
- SD Financial Pathways, LLC
- Seller
- Steven Deceuninck
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
-
March 26, 2018
- Buyer
- Narrow Gauge Capital, ICG Strategic Equity, Aberdeen Standard Investments
- Target
- Class Appraisal, LLC
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
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.
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Frequently Asked Questions
What kinds of acquisitions are most common in Michigan financial services?
The page shows a mix of community bank and credit union mergers, plus acquisitions of registered investment advisers and wealth management firms.
Do the deals usually close immediately?
Not always. Several announced merger agreements are expected to close in Q4 2026, and at least one case references planned conversion activities after closing.
Are wealth management acquisitions focused on client assets or teams?
Yes. Recent examples highlight adding client assets (AUM/client base) and bringing over senior investment teams or advisors, such as FLP adding Arcadia’s senior investment team and Procyon adding financial advisors and support staff.
Is technology part of any Michigan financial services acquisition?
Yes. Reseda Group and Maps Credit Union acquired Pocketnest, an AI-powered financial wellness platform intended to integrate behavioral-science and generative AI-driven guidance into member experiences.
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