![]() “The combination of these two established institutions allows us to provide a broader range of banking services to our client base, including equipment leasing and services provided by Bank of Ann Arbor’s Trust and Investment Management Group and its Technology Industry Group,” Long said in the release. In addition, Stan Dickson, the largest shareholder and Vice Chairman of the First National Board, will serve on the Bank of Ann Arbor Board of Directors.Īfter the banks combine, the release said, the Bank of Ann Arbor will maintain a Livingston County Community Board that will include some members from the FNBH board. Ronald Long, president and CEO of First National Bank in Howell, will serve as district president in Livingston County after the sale is complete, according to the release. ![]() “Both Bank of Ann Arbor and First National thought it would be prudent to press pause and focus attention on our employees and customers. Little did we all know we were just weeks away from a global pandemic that left our country feeling uncertain of so many variables,” Tim Marshall, President and CEO of Bank of Ann Arbor said in the release. ![]() “In February of 2020, this transaction was originally announced. The companies first announced their plans in early 2020 prior to the coronavirus outbreak. Under the terms of the agreement, shareholders of First National will receive $4.20 per share in cash for each share of FNBH Bancorp common stock outstanding, subject to adjustment in certain circumstances, according to the release. Company officials expect the transaction to close by the end of 2021. The transaction, first announced last year, had been delayed due to the coronavirus pandemic.īank of Ann Arbor will acquire the long-time Livingston County bank for approximately $116.5 million. ![]() ![]() The Bank of Ann Arbor will purchase First National Bank in Howell, the two companies announced in a release. ![]()
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