More bank branches closed in Michigan than in 45 other states in the years following the most recent financial crisis.
Huntington Bancshares Inc. will layoff 129 workers in Holland to improve operational efficiencies following its acquisition of FirstMerit Corp. in 2016.
Mergers and acquisitions within the banking industry are expected to maintain a steady pace in the new year.
Two large bank mergers affecting the Michigan market are progressing, with one securing shareholder approval and another awaiting a vote in the coming weeks.
FirstMerit Bank branches in Grand Haven, Muskegon and Portage will close following the proposed $3.4 billion merger into Huntington Bancshares Inc.
A pair of deals would give Chemical Financial Corp. and Huntington Bancshares Inc. larger footprints in Michigan and could renew the momentum for bank M&A in the state.
Chemical Financial Corp. plans to acquire Talmer Bancorp Inc. in a $1.1 billion deal that will create one of the largest banks in the Midwest.