Talmer Bancorp Inc. completes acquisition of First of Huron Corp.

Staff report

YOUNGSTOWN

Troy, Mich.-based Talmer Bancorp Inc., the parent company of Talmer Bank and Trust, announced Friday it has completed its previously announced acquisition of First of Huron Corp., based in Bad Axe, Mich., and its subsidiary, Signature Bank.

The company paid approximately $13.4 million in cash for all the outstanding shares of common stock of First of Huron Corp. in the transaction.

“We are excited about the completion of the acquisition of First of Huron Corp. and Signature Bank,” David T. Provost, president and CEO of Talmer Bancorp., said in a statement.

Shareholders of First of Huron Corp. common stock will receive $25 in cash for each outstanding share of First of Huron Corp. common stock. With the closing of the transaction, Signature Bank has merged with Talmer Bank and Trust.

Talmer has 16 locations in the Mahoning Valley, and is the sixth-largest bank in the Youngstown area.