Printer Friendly

GREAT LAKES BANCORP SELLS FIVE LANSING-AREA BRANCHES

 GREAT LAKES BANCORP SELLS FIVE LANSING-AREA BRANCHES
 ANN ARBOR, Mich., Sept. 25 /PRNewswire/ -- Great Lakes Bancorp


(NASDAQ-NMS: GLBC) today completed the sale of its five branches in the Lansing, Mich., area to Old Kent Bank.
 "The sale is part of our strategy to consolidate our branch system by concentrating our activities in certain key markets where our market share allows us to operate more efficiently," said Robert J. Delonis, Great Lakes Bancorp's president and chief operating officer.
 The sale of the Lansing area offices is the largest, and nearly the last, in Great Lakes' branch consolidation plan. Great Lakes expects to complete the consolidation plan in October with the sale of its Clare office to Firstbank, a subsidiary of Firstbank Corporation of Alma.
 With $2.8 billion in assets and $1.8 billion in deposits, Great Lakes Bancorp is Michigan's second-largest savings bank. Great Lakes has branches throughout Michigan, with primary concentrations in the Ann Arbor, Battle Creek, and Saginaw areas. In addition, a division of Great Lakes, Dollar Federal Savings Bank, has a significant presence in Hamilton, Ohio. Great Lakes also operates Great Lakes Mortgage Co., a mortgage banking subsidiary.
 -0- 9/25/92
 /CONTACT: James S. Patterson, vice president, Corporate Communications, Great Lakes Bancorp, 313-769-8300, Ext. 4116/
 (GLBC OKEN) CO: Great Lakes Bancorp; Old Kent Financial Corporation ST: Michigan IN: FIN SU: TNM


SM -- DE010 -- 3465 09/25/92 11:04 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 25, 1992
Words:234
Previous Article:WENDY'S HEATS UP AMERICA'S TASTE BUDS WITH SPICY CHICKEN FILLET SANDWICH
Next Article:TEXAS INSTRUMENTS RESPONDS TO MICRON LAWSUIT
Topics:


Related Articles
HARRIS ACQUIRES HOUSEHOLD BANK'S NETWORK OF 54 CHICAGOLAND BRANCHES
U.S. Bancorp to Acquire Sun Capital Bank; Strengthens Utah Franchise
Fifth Third Bank to Acquire Great Lakes National Bank Ohio; Move Creates New 22-Office Fifth Third Bank Butler County
First Western Announces Plans to Sell Lake County Offices
Old Kent Will Acquire CFSB Bancorp, Inc.
U.S. Bank to Sell Eight Branches to Seven Iowa Banks.
Old Kent Completes Acquisition of CFSB Bancorp, Inc.
NBT Bancorp and Lake Ariel Bancorp Announce Merger Agreement.
Jackson Federal Bank Expands with Purchase.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters