Mount Pleasant, Michigan-based Isabella Bank Corp. has agreed to acquire Grandville, Michigan-based Grand River Commerce for roughly $54.6 million, the banks announced Monday.
Grand River Commerce’s subsidiary, Grand River Bank, will merge into Isabella Bank Corp.’s subsidiary Isabella Bank. The banks expect the transaction to close in the fourth quarter, they said.
“This partnership aligns with our disciplined, long-term strategic plan and importantly aligns and builds on shared common values and similar cultures,” Isabella CEO Jerome Schwind said in a news release…