Fed Approves Isabella’s $54.6M Grand River Acquisition

The Federal Reserve approved Isabella Bank Corporation’s acquisition of Grand River Commerce and Grand River Bank, including Isabella Bank’s merger with Grand River Bank and operation of branches at its locations. Grand River shareholders also approved the deal, which is valued at about $54.6 million and is expected to expand Isabella’s presence in the Grand Rapids area. The combined institution is projected to have roughly $2.8 billion in assets and 33 locations across nine Michigan counties; closing remains subject to customary conditions.