Citizens State Bank of Ontonagon, Mich., announced May 5 that it intends to sell its assets and liabilities to Honor Credit Union of Berrien Springs, Mich.
Pending regulatory approval, Citizens will become part of Honor Credit Union, which has almost $735 million in assets.
"The history of service that Citizens State Bank of Ontonagon has is incredible and is a legacy that Honor Credit Union is honored to contribute to," Honor Credit Union President/CEO Scott McFarland said. "With aligning cultures and community commitments, we are looking forward to getting to know our new Ontonagon friends and neighbors."
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"The Citizens State Bank of Ontonagon has been a part of the Ontonagon community for 107 years and we take great pride in the responsibility of providing for our customers and bettering our community," the bank's president, Willie DuPont, said.
"We are extremely excited to welcome Honor Credit Union to our community, which will allow us to provide benefits not previously possible, including numerous loan options, lower loan rates and higher deposit rates just to name a few."
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