Warner Norcross + Judd LLP represented Keweenaw Financial Corp. in its definitive merger agreement with Range Financial Corp., which was announced today.
Based in Hancock, Keweenaw Financial is the holding company of Superior National Bank, which has approximately $1.05 billion in assets. Founded in 1890, Superior National Bank is the largest community bank headquartered in the Upper Peninsula of Michigan, employing approximately 200 in its headquarters and 10 locations serving customers across the U.P. and Southeast Michigan.
Based in Marquette, Range Financial is the holding company of Range Bank, which has approximately $635 million in assets. Founded in 1887, Range Bank is the third largest community bank headquartered in the U.P., with 110 employees working in its headquarters and eight locations serving customers in the U.P. and Green Bay, Wisconsin.
Completion of the all-stock transaction is subject to certain closing conditions, including approval of Range Financial shareholders, receipt of regulatory approvals and receipt of a determination from the Michigan Department of Licensing and Affairs that the terms and conditions of the merger are fair.
The combined bank will be headquartered in Hancock and maintain executive offices in Marquette. It will have total assets of more than $1.68 billion and total deposits of approximately $1.43 billion.
The Warner legal team was led by Charlie Goode and Sarah Harper and included:
- Christian D. Rhoades
- Heidi A. Lyon
- Kelly R. Hollingsworth
- Early L. Stephens
- Matthew T. Koenders
- Paul H. Beach
- Alexandra E. Haywood
- Allyson Terpsma
Warner's Mergers and Acquisitions (M&A) Practice Group
Warner's M&A group draws upon more than 85 years of experience to successfully and efficiently handle a wide range of M&A transactions for both private and publicly traded businesses, including mergers, acquisitions, divestitures, joint ventures and strategic business combinations of all types.
