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Fentura Financial, Inc. (FETM), the holding company for The State Bank, provides comprehensive banking services across Michigan. This page offers timely updates on financial performance, strategic initiatives, and community-focused developments for investors and stakeholders.
Access centralized news coverage including earnings reports, leadership updates, product launches, and regulatory filings. Track FETM's commitment to community banking through partnership announcements and service expansions.
Key updates cover commercial lending activities, wealth management innovations, and digital banking enhancements. Stay informed on how FETM balances traditional values with modern financial solutions for individuals and businesses.
Bookmark this page for reliable updates on one of Michigan's established community banks. Check back regularly for objective reporting on FETM's evolving role in regional financial services.
ChoiceOne Financial Services (NASDAQ: COFS) has completed its merger with Fentura Financial effective March 1, 2025. The combined organization emerges as a significant bank holding company with over $4 billion in assets and 56 offices across Michigan.
The merged entity will be headquartered in Sparta, Michigan, with The State Bank's consolidation into ChoiceOne Bank scheduled for March 14, 2025. The consolidated bank will operate under the ChoiceOne name and brand, expanding its community bank franchise into Central and Southeastern Michigan.
The merger enhances ChoiceOne's commercial and consumer lending capabilities while advancing technological offerings. The combined organization aims to provide an extensive range of products and services through an enhanced retail network, including digital and branch banking solutions.
ChoiceOne Financial Services (NASDAQ: COFS) has received regulatory approval from the Federal Reserve System for its merger with Fentura Financial (OTCQX: FETM). The merger will create a combined organization headquartered in Sparta, Michigan, operating under the ChoiceOne name and brand. The transaction is expected to be effective on March 1, 2025, with bank consolidation following on March 14, 2025.
The merger will expand ChoiceOne's presence into several Michigan counties including Genesee, Jackson, Livingston, Ingham, Saginaw, Shiawassee, and Bay. Post-merger, ChoiceOne will become a $4.3 billion-asset bank holding company with 56 offices across West and Southeastern Michigan.
Fentura Financial (OTCQX: FETM) reported Q4 2024 net income of $3,730 and full-year 2024 net income of $9,367. During Q4, gross loans declined by $5,487, while net interest income increased by $382 on a fully tax equivalent basis due to a 0.02% expansion in net interest margins. The company's adjusted net income for Q4 and full-year 2024 was $4,104 and $10,572 respectively, compared to $3,759 and $15,064 in 2023.
The company continues to progress on its all-stock merger with ChoiceOne Financial Services, expected to close in Q1 2025. The combination will create Michigan's third-largest publicly traded bank with over $4 billion in consolidated assets and 56 offices. Key metrics show nonperforming loans at 0.75% of gross loans and a total capital to risk-weighted assets ratio of 12.87%.
ChoiceOne Financial Services (NASDAQ: COFS) and Fentura Financial shareholders have approved their merger at special meetings held on December 12, 2024. Fentura will merge into ChoiceOne, with the combined organization operating under the ChoiceOne name and headquartered in Sparta, Michigan. The merger will create a $4.3 billion-asset bank holding company with 56 offices across West and Southeastern Michigan, becoming the 3rd largest publicly traded bank holding company headquartered in Michigan. The transaction is expected to close in Q1 2025, pending regulatory approvals and customary closing conditions.
Fentura Financial (OTCQX: FETM) reported Q3 2024 net income of $867,000, down from $3,775,000 in Q3 2023. The company announced record total assets of $1.81 billion, with deposits reaching $1.47 billion. Net interest margin decreased to 2.80% from 3.05% year-over-year. Key financial metrics include total loans of $1.44 billion and shareholders' equity of $146.4 million. The company announced a merger with ChoiceOne Financial Services, expected to close in Q1 2025, creating Michigan's third-largest publicly traded bank with approximately $4.3 billion in consolidated assets and 56 offices.
Fentura Financial (OTCQX: FETM) has declared a quarterly dividend of $0.11 per share. The dividend will be paid on November 12, 2024, to shareholders of record as of November 4, 2024.
Fentura Financial (OTCQX: FETM) has declared a quarterly dividend of $0.11 per share. This dividend will be paid to shareholders who are on record as of August 5, 2024, with the payment scheduled for August 12, 2024. The announcement of this regular dividend demonstrates Fentura Financial's commitment to providing consistent returns to its shareholders. As a financial institution trading on the OTCQX market, this dividend declaration may be seen as a positive signal of the company's financial health and its ability to generate cash flow for investor returns.
ChoiceOne Financial Services, Inc. (NASDAQ: COFS) and Fentura Financial, Inc. (OTCQX: FETM) have announced a definitive merger agreement in an all-stock transaction. The merger will create the third largest publicly traded bank in Michigan with approximately $4.3 billion in consolidated total assets and 56 offices across Western, Central, and Southeastern Michigan. Each Fentura share will be converted into 1.35 ChoiceOne shares, valuing the transaction at $180.4 million. The merger is expected to close in Q1 2025, subject to shareholder and regulatory approvals. The combined entity will strengthen ChoiceOne's presence in Detroit's suburbs and add markets in Flint and Saginaw. Both companies emphasize their shared commitment to customer service and community engagement.
Fentura Financial (OTCQX: FETM) reported second quarter 2024 net income of $1,980K and first half 2024 net income of $4,770K. Total deposits increased by 3.4%, and borrowed funds decreased by 11.0% compared to the prior year. The company maintained strong asset quality with a tangible book value increase of 9.9% year-over-year to a record $29.84 per share. However, the quarterly net income fell from $3,226K in Q2 2023 to $1,980K in Q2 2024. Return on average assets is down to 0.45% compared to 0.76% a year ago. Despite these challenges, the company highlighted the stability in gross loans and the increase in total assets to $1,756,629K.
Fentura Financial, Inc. (FETM) announces quarterly net income of $2,790 for the three months ended March 31, 2024. The company experienced challenges due to high short-term interest rates and a yield curve inversion. Despite this, they achieved record total assets and shareholders' equity. Tangible book value per share increased by 10.3% to $29.38. The company reduced borrowings by $80.6 million and increased cash by $12.1 million over the past year.
