East Tawas, Mich.-based Huron Community Bank is acquiring approximately $10.9 million in deposits and $1.5 million in loans from a First Federal of Northern Michigan branch in Oscoda.

The branch will be shuttered, and Alpena, Mich.-based First Federal will exit the area. It will have seven branches in northern Michigan once the transaction is complete.

The deal is subject to regulatory approvals.

Huron Community Bank, a Huron Community Financial Services Inc. subsidiary, had $193.9 million in assets as of June 30. First Federal, a First Federal of Northern Michigan Bancorp Inc. subsidiary, had $341.0 million.