SOURCE: Birmingham Bloomfield Bancshares, Inc

Birmingham Bloomfield Bancshares, Inc

October 13, 2016 14:21 ET

Birmingham Bloomfield Bancshares, Inc. Shareholders Approve Merger With Arbor Bancorp, Inc.

BIRMINGHAM, MI--(Marketwired - October 13, 2016) - On September 29, 2016, shareholders of Birmingham Bloomfield Bancshares, Inc. (the "Company") approved the Merger Agreement among the Company, Arbor Bancorp, Inc. and Varnum Merger Sub, Inc. The merger is expected to close in the fourth quarter of 2016. Completion of the merger is subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals. The combined organization is expected to have total assets of approximately $1.5 billion and 8 banking locations in Washtenaw, western Wayne and Oakland counties.

About Bank of Ann Arbor:

Bank of Ann Arbor is a locally owned and operated bank with total assets and assets under management of approximately $2.2 billion, serving people and businesses in Washtenaw and western Wayne counties with offices at the corner of Fifth Avenue and Washington Street in downtown Ann Arbor, in the Traver Village Shopping Center, at the corner of Stadium and Liberty streets, on West Ellsworth Road in Pittsfield Township, on West Michigan Avenue in downtown Ypsilanti, in Plymouth on Ann Arbor Road, on East Michigan Avenue in downtown Saline. UniFi Equipment Finance based in Ann Arbor has a national presence in the small ticket vendor leasing market. For more information, visit www.boaa.com or follow Bank of Ann Arbor on Facebook, Twitter, and LinkedIn.

About Bank of Birmingham:

Bank of Birmingham is a full-service community bank serving Oakland County and delivering financial services to small and medium size businesses; their owners and employees; professionals; and individuals who primarily work or reside in Birmingham, Bloomfield Hills, Beverly Hills and Franklin. Every Bank of Birmingham customer has a relationship manager who serves as their single point of contact empowered to provide all of its services. For more information, visit www.bankofbirmingham.com or follow Bank of Birmingham on Facebook, Twitter and LinkedIn.

Contact Information

  • Contact:
    Robert M. Farr
    Chief Executive Officer
    Birmingham Bloomfield Bancshares, Inc.
    248-283-6430