GRANDVILLE, Mich. (WOOD) — Mount Pleasant-headquartered Isabella Bank is set to acquire West Michigan’s Grand River Bank in a $54.6 million deal.
The two have entered into an agreement and plan of merger, they announced Friday in a release. Grand River will ultimately be merged into Isabella.
Grand River, which is headquartered in Grandville and also has a location in Grand Rapids Township, opened for business in 2009. As of late March, it had about $512 million in assets, $438 million in loans and $439 million in deposits, according to the release.
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Isabella Bank has 31 locations across eight mid-Michigan counties. The acquisition will mark its entrance into the Grand Rapids area…