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Mercantile Bank (MBWM) in Grand Rapids, Mich., expects regulatory hang-ups to delay its acquisition of Firstbank (FBMI) in Alma, Mich.
November 26
Mercantile Bank (MBWM) in Grand Rapids, Mich., and Firstbank (FBMI) in Alma, Mich., are extending the termination date for their delayed merger.
The companies disclosed in regulatory filings Friday that they had moved the termination date to June 30. It had been set at March 31.
Mercantile, which has $1.4 billion in assets, and Firstbank, with $1.5 billion in assets, have faced regulatory delays since announcing the $151 million merger in August.
Mercantile said in a