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Fentura Financial gets approvals for Community Bancorp buy, closes $15M offering

Fenton, Mich.-based Fentura Financial Inc. has received the necessary regulatory approvals for its acquisition of St. Charles, Mich.-based Community Bancorp Inc., the holding company of Community State Bank.

The transaction, which was previously approved by Community Bancorp shareholders, is expected to close later this month, according to a Dec. 15 news release.

Fentura Financial also closed Dec. 12 its offering of 1,071,428 common shares for $14.00 each, or an aggregate of $15 million.

Donnelly Penman & Partners Inc. was the sole placement agent for the offering, while Howard & Howard Attorneys PLLC acted as counsel to Fentura in connection with the offering.