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Independent Bank Corporation, TCSB sign definitive merger agreement.

GRAND RAPIDS: Independent Bank Corporation and TCSB Bancorp, Inc. announced the signing of a definitive merger agreement on Dec. 4, 2017 for IBCP to acquire TCSB.

The proposed transaction has been approved by both the Federal Reserve Bank of Chicago and the Michigan Department of Insurance and Financial Services. A meeting of the TCSB shareholders has been scheduled for Mar. 14, 2018 to consider and vote upon a proposal to approve the merger agreement between IBCP and TCSB.

Assuming requisite TCSB shareholder approval and satisfaction of other closing conditions, the merger of IBCP and TCSB is currently expected to be effective on Apr. 1, 2018.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Feb 24, 2018
Words:105
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