Arbor Bancorp, Inc. agreed to acquire FNBH Bancorp, Inc. (OTCPK:FNHM) (First National) for approximately $100 million on February 4, 2020. The consideration will be paid in cash. Under the terms of the agreement, shareholders of First National will receive $3.65 per share in cash for each share of FNBH Bancorp common stock outstanding, subject to adjustment in certain limited circumstances. The combined organization is expected to have more than 300 employees across 17 locations in Livingston, Washtenaw, western Wayne and Oakland counties, Michigan. Ronald Long, President and Chief Executive Officer of First National, will continue to serve as District President in Livingston County following the conclusion of the transaction. The transaction is subject to satisfaction of customary closing conditions, including regulatory approvals and the approval of the shareholders of First National. The transaction is expected to be completed during the second quarter of 2020. Arbor anticipates the transaction to be accretive to earnings per share in excess of 10%. Performance Trust Capital Partners LLC served as financial advisor to Arbor and Bodman PLC served as legal advisor to Arbor. Donnelly Penman & Partners, Inc. served as financial advisor to First National and Varnum LLP acted as legal advisor to First National.