Bank of Ann Arbor, the community bank headquartered in Ann Arbor, Michigan, has agreed to buy Milford-based Huron Valley State Bank in an all-cash deal valued at about $52.1 million, the holding companies for the two banks announced Monday.
Under the definitive agreement between Arbor Bancorp and Huron Valley Bancorp, Huron Valley shareholders would receive $59 in cash for each share they own. The deal is expected to close late in the fourth quarter of 2026 or during the first quarter of 2027, once regulators sign off and Huron Valley shareholders approve it. Arbor Bancorp plans to fund the purchase with existing capital, and the deal carries no financing contingency.
The combined bank would have about $3.8 billion in total assets, roughly 360 employees and 21 locations spread across Washtenaw, Livingston, Oakland and western Wayne counties. The purchase brings Huron Valley’s offices in Milford and Highland into the Bank of Ann Arbor network and moves forward plans for a new location in Northville.
Tim Marshall, executive chairman and CEO of Bank of Ann Arbor, said the bank had been looking for ways to put excess capital to work and deepen its presence in nearby markets. He said Huron Valley customers would gain access to the full product line, including equipment finance along with trust and investment management services.
Jack Shubitowski, president and CEO of Huron Valley State Bank, will stay with the combined bank to help guide the transition. He said customers would benefit from a larger legal lending limit and expanded wealth management options.
The deal is the latest in a string of acquisitions for the Ann Arbor lender. Since 2010 it has bought New Liberty Bank in Plymouth Township, UniFi Equipment Finance in Ann Arbor, Bank of Birmingham, First National Bank in Howell and the Birmingham branch of Nicolet Bank.
