FENTON, Mich., Dec. 02, 2016 (GLOBE NEWSWIRE) -- Fentura Financial, Inc. (the “Company” or “Fentura”) (OTCQX:FETM) announced today that it has entered into agreements for the issuance of 1,071,428 shares of Fentura common stock at a price of $14.00 per share, for an aggregate purchase price of $15 million. The proceeds of the offering will be used in part to fund the previously announced acquisition of Community Bancorp, Inc., to support Fentura’s continued growth, and for other corporate purposes. The closing of the offering is subject to certain conditions included in the purchase agreements. The common stock to be issued will not be registered under the Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Fentura Financial, Inc. is a bank holding company headquartered in Fenton, Michigan. Its subsidiary bank, The State Bank, is also headquartered in Fenton with offices serving Fenton, Linden, Holly, Grand Blanc and Brighton. The Bank offers comprehensive financial services including commercial, consumer, mortgage, trust and financial planning services, and deposit products. The Bank proudly provides services from its community offices in Genesee, Oakland and Livingston Counties and through on-line and mobile banking services. More information about The State Bank is available at www.thestatebank.com. Fentura Financial, Inc. shares are traded over the counter under the FETM trading symbol.