trending Market Intelligence /marketintelligence/en/news-insights/trending/MGxILktHFNsnNrs19Bz_Bw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

PL Capital's stake in Michigan's Independent Bank falls below 5%

Blog

Banking Essentials Newsletter: May Edition

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9

Blog

Banking Essentials Newsletter: April Edition - Part 2

Blog

The Evolution of Cloud Banking: Successful Implementation & Frameworks


PL Capital's stake in Michigan's Independent Bank falls below 5%

PL Capital Group's stake in Grand Rapids, Mich.-based Independent Bank Corp. has fallen below the 5% reporting threshold.

The reporting persons, which include Richard Lashley, John Palmer and PL Capital Advisors LLC, entered into a stock purchase agreement with the company May 20. It covers the sale of 660,000 Independent Bank common shares to the company at $22 apiece.

As a result, the investor group reduced its percentage ownership to 4.97%, or 1,167,285 Independent Bank common shares.