Talmer Bancorp Acquires First of Huron Corp.

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TROY — Talmer Bancorp will acquire First of Huron Corp. and its wholly-owned bank subsidiary Signature Bank, in an all-cash transaction.

According to the terms of the agreement, Talmer Bancorp will acquire all of the outstanding common stock of First of Huron Corp. in a transaction valued at approximately $13.4 million.

Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, each holder of outstanding shares of common stock of First of Huron will receive cash consideration totaling $25 per common share.

The transaction is expected to close in the fourth quarter of 2014 or the first quarter of 2015.

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