PARCHMENT — Advia Credit Union would gain a larger market presence in northern Illinois with the proposed acquisition of Golden Eagle Community Bank.
Two pending deals where West Michigan-based credit unions are buying small community banks follow an emerging trend nationally.
Here is the MiBiz Growth Report for Jan. 23, 2017.
• M&A: Bryan Betten and Chris Baker, two veteran West Michigan dealership executives, have acquired Grand Chrysler Dodge Jeep Ram in Lowell from former owner Harvey Koning. Betten-Baker is in the process of acquiring the remaining Grand Auto Family Services Inc. dealerships owned by Koning, which include facilities in Grandville, Allegan and Lowell, said Pete Ricards, division director at Betten-Baker. The company also is acquiring a Big Rapids-based GMC dealership from Gary Trimarco Automotive group, but is waiting on manufacturer approval from General Motors to complete both deals.
Advia Credit Union plans to buy a Wisconsin bank.