Published in Finance

Charter Capital advises UP bank in $42 million acquisition

BY MIBIZ STAFF Friday, February 21, 2020 05:00am

GRAND RAPIDS — Charter Capital Partners represented Hancock-based Keweenaw Financial Corp., the parent company of Superior National Bank & Trust, in the $42 million acquisition of North Star Financial Holdings Inc., the Bingham Farms-based parent company of Main Street Bank in suburban Detroit.

Charter Capital Partners was the M&A adviser for Keweenaw Financial Corp. in the deal.

John Kerschen, president and managing partner at Charter Capital Partners COURTESY PHOTO

The combined bank will have 11 offices in the Upper Peninsula and Southeast Michigan with more than $800 million in total assets.

“This a great outcome for all parties involved, including Superior National Bank, Main Street Bank, and all of their customers throughout Michigan,” said John Kerschen, president and managing partner at Charter Capital Partners.

Grosse Pointe Farms-based Olejniczak Advisors LLC, a financial services industry strategic consultant, and Grand Rapids-based law firm Warner Norcross + Judd LLP also advised Superior National Bank and Trust on the deal.

Main Street Bank was advised by Clawson-based McQueen Financial Advisors, and the law firms of Kus Ryan & Associates PLLC of Auburn Hills and Seyburn Kahn PC in Southfield.

EDITOR’S NOTE: This story has been updated from its original version. 

Read 2580 times Last modified on Monday, 24 February 2020 13:36