Traverse City News and Events

How A $63 Million Bank Merger Got Done And More

June 7, 2018

The eventual merger between Traverse City State Bank and Grand Rapids-based Independent Bank started with a drop-in. Independent CEO Brad Kessel and CFO Rob Shuster stopped by to say hello to TCSB CEO Connie Deneweth and President Ann Bollinger last May. The simple meeting kicked off what culminated almost a year later in a $63 million deal to acquire TCSB.

This month's Traverse City Business News goes inside the meeting and the deal to hear how it came together, why it made sense for both parties, and what's ahead for Independent in the competitive northern Michigan market. 

The June TCBN also includes a feature on the lesser-known vineyard management companies, specialists working alongside winemakers to plant, cultivate, manage and harvest the vineyards at the region's most well-known wineries. 

The issue also includes a profile of businesses that rely on Grand Traverse Bay for their livelihoods, a look at why credit unions are interested in marijuana, and much more. Click here to subscribe and get your own TCBN copy each month -- because only a selection of all stories are available to the public online. 

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