Hantz Holdings, an affiliate of Hantz Group, a financial services firm with offices in Michigan, Ohio and Georgia, has acquired Flint area Davison State Bank for $2.8m from Fentura Financial with an additional capital contribution to the holding company of $7m.
Davison State Bank is a $40m bank located near Flint in Genesee County. The bank was formed in 2000 and has two offices which serve the banking needs of individuals and small businesses in the Davison area.
Davison State Bank will continue to operate as a traditional community bank headquartered in Davison. Many backroom support services will continue to be provided by The State Bank, a subsidiary of Fentura Financial.
John Hantz, chairman and CEO of Hantz Group, said: “We are pleased to add the Davison State Bank to our family of financial services. This acquisition allows us to provide an even more comprehensive package of services to address our individual and small business customers’ total financial health.
“Our commitment of significant capital to Davison State Bank demonstrates that we intend to be very well-capitalized to not only have the resources to serve our affiliated companies’ customers, but also help new customers throughout Michigan.”