Plans for a new bank location in Northville, Michigan, are moving forward as part of a $52.1 million deal announced Monday in which Bank of Ann Arbor will acquire Milford-based Huron Valley State Bank.
Huron Valley had already been investing in growth plans for Northville, and Bank of Ann Arbor said the acquisition will help carry out that new Northville location. The deal also brings Huron Valley’s existing offices in Milford and Highland into the Bank of Ann Arbor network.
Under the all-cash agreement between holding companies Arbor Bancorp and Huron Valley Bancorp, Huron Valley shareholders would receive $59 per share. The transaction is expected to close late in the fourth quarter of 2026 or in the first quarter of 2027, subject to regulatory approvals and a vote by Huron Valley shareholders.
Once combined, the bank would have about $3.8 billion in assets, about 360 employees and 21 locations across Washtenaw, Livingston, Oakland and western Wayne counties, which include the Northville area.
Bank of Ann Arbor executive chairman and CEO Tim Marshall said the bank intends to build on Huron Valley’s investment in Northville and offer new customers its full lineup, including equipment financing and trust and investment management. Huron Valley president and CEO Jack Shubitowski will remain with the combined bank through the transition and said customers would gain a larger legal lending limit.
Bank of Ann Arbor has completed several earlier acquisitions in the region, including New Liberty Bank in nearby Plymouth Township in 2010.
