Freeland State Bank (FSB) announced its definitive merger agreement with Thumb Bancorp, Inc. (TBI) in which TBI will acquire FSB through an all-cash transaction.
The transaction is expected to close in the fourth quarter of 2024 following receipt of regulatory and FSB shareholder approvals and subject to customary closing conditions.
Warner Norcross + Judd LLP served as legal advisor to FSB in the transaction. The Warner legal team was led by Charlie Goode and included Heidi Lyon, Allyson Terpsma, Malaina Snyder and Christian Rhoades.
To read the full announcement, click here.
About Freeland State Bank
FSB is a community bank with one office in Saginaw County, Michigan, serving the community through personal banking and lending, business banking and lending, and various other transactional and convenient services. Following the merger, FSB will operate as a branch of TBI.
About Warner’s Financial Institutions Industry Group
As part of one of the largest and most successful law firms in Michigan, the attorneys in Warner’s Financial Institutions Industry Group counsel banks and bank holding companies through bank formations, mergers and acquisitions, strategic transactions, securities offerings and regulation, commercial lending, consumer credit, negotiable instruments, bank litigation, workouts and bankruptcy, leveraged leasing, antitrust and regulatory compliance.
Warner’s Mergers and Acquisitions (M&A) Practice Group
Warner’s M&A Practice Group draws upon more than 90 years of experience to successfully and efficiently handle a wide range of M&A transactions for both private and publicly traded businesses, including mergers, acquisitions, divestitures, joint ventures and strategic business combinations of all types.
