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Article: KeyBank to buy Sterling Bank's Michigan branches.(Review)(Sterling Bank and Trust F.S.B.)
- Article from:
- Crain's Detroit Business
- Article date:
- April 26, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KeyBank N.A. in Ann Arbor has signed a purchase agreement to acquire the Michigan offices and deposits of Southfield-based Sterling Bank & Trust FSB for an undisclosed amount. The deal is pending federal and state banking regulator approval, but KeyBank said it expects it to close in the third quarter. When complete, the acquisition will add 11 offices to KeyBank's 21 in Southeast Michigan and approximately $380 million to the KeyCorp subsidiary's total Michigan deposits of $680 million.
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