Friday, ChoiceOne Financial Services, Inc. (COFS) and Fentura Financial, Inc. (FETM) announced the shareholders' decision to approve the proposed merger, following which ChoiceOne will continue as the surviving corporation.
The decision comes as ChoiceOne expects the merger to add shareholder value, improve efficiencies of the organizations, and expand network across Michigan.
The combined organization will be headquartered in Sparta, Michigan.
The parent company of ChoiceOne Bank added that the transaction is set to close in the first quarter of 2025.
During the pre-market hours, ChoiceOne's stock is moving down 0.98 percent, to $36.40 on the Nasdaq.
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