Ann Arbor-based Bank of Ann Arbor is increasing its presence in Oakland County with plans to acquire Milford-based Huron Valley State Bank.
Arbor Bancorp Inc. and Huron Valley Bancorp Inc., holding companies of each of the banks, announced the $52.1 million deal on Monday, saying that the banks have entered into a definitive agreement for Bank of Ann Arbor to acquire Huron Valley in an all-cash transaction.
The transaction is expected to close in late 2026 or the first quarter of 2027, pending regulatory approvals and approval by Huron Valley shareholders, officials said. Huron Valley shareholders will receive $59 per share…