MergerNov 2, 2026, 04:32 PM
Isabella Bank Corp Completes Merger with Grand River Commerce, Inc.
AI Summary
Isabella Bank Corporation announced the completion of its merger with Grand River Commerce, Inc., effective November 2, 2026. The combined entity will have approximately $2.7 billion in assets, $2.0 billion in loans, and $2.3 billion in deposits. Grand River stockholders elected to receive either $5.71 in cash or 0.1413 shares of Isabella common stock per share, with 65% of shares exchanged for stock and 35% for cash. This strategic acquisition expands Isabella Bank's presence into the Grand Rapids market.
Key Highlights
- Isabella Bank Corporation completed its merger with Grand River Commerce, Inc. effective November 2, 2026.
- The combined company has approximately $2.7 billion in total assets, $2.0 billion in loans, and $2.3 billion in total deposits.
- Grand River stockholders could elect to receive $5.71 cash or 0.1413 shares of Isabella common stock per share.
- 65% of Grand River shares were exchanged for Isabella common stock, and 35% for cash.
- 40.39% of Grand River shares (3,690,634 shares) were exchanged for Isabella common stock.
- 59.61% of Grand River shares (5,445,895 shares) were exchanged for cash.
- The merger extends Isabella Bank's footprint into Kent County and the Grand Rapids market.
Price Impact
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