Thumb Bancorp in Pigeon, Michigan, has agreed to buy Freeland State Bank in Freeland. The $617.1 million-asset Thumb will pay an undisclosed amount of cash for the $54 million-asset Freeland, according to a notice issued by Hovde Group, which represented the buyer. The deal is expected to close in the fourth quarter.
Murphy-Wall State Bank and Trust in Pinckneyville, Illinois, has agreed to buy Oakdale State Bank in Oakdale. Murphy-Wall Bancorp, the parent of the $179.3 million-asset Murphy-Wall State, did not disclose the price it will pay for the $25 million-asset Oakdale State.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.