Chemical Bank Buys Holding Company of Bank of Holland

MIDLAND, MI (WHTC) – Holland-based Lake Michigan Financial Corporation, the holding company for the Bank of Holland and the Bank of Northern Michigan, has been purchased by Midland-based Chemical Bank for over 184 million dollars. Branches in Holland, Grand Rapids, Traverse City and Petoskey will be absorbed into the state’s seventh largest bank by deposit and the biggest financial institution based in Michigan. The Bank of Holland had been in existence since 1998 and LMFC has assets of 1.2 billion dollars.