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Our bank operates 44 banking offices primarily concentrated throughout Western and Central Michigan, most of which are full-service facilities.
−Removed: We also have a banking office in Troy, Michigan, and in late 2020 we opened a residential mortgage loan production office in the Cincinnati, Ohio metropolitan area.
−Removed: We have larger banking facilities in Alma, Kalamazoo, Lansing, Mt.
+Added: We also have a banking office in Troy, Michigan, and residential mortgage loan production offices in Petoskey, Michigan and the Cincinnati, Ohio metropolitan area.
+Added: We have larger banking facilities in Kalamazoo, Lansing, Mt.
Pleasant and West Branch.
The remaining banking offices generally range in size from 1,200 to 3,200 square feet, based on the location and number of employees located at the facility.
−Removed: All of our banking offices are owned by our bank except for seven that are rented under various operating lease agreements.
+Added: All of our banking offices are owned by our bank except for ten that are rented under various operating lease agreements.
In several instances, the banking offices contain more usable space than what is needed for current banking operations.
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In addition, certain functions operate out of our standalone facility located in Alma.
−Removed: As part of our bank’s branch rationalization efforts, we recently announced that our bank and Lake Trust Credit Union have entered into an agreement for the sale of our banking office located in Hastings, Michigan, with the sale expected to be consummated by March 31, 2021.
−Removed: The agreement includes the 4,300 square-foot facility, all associated assets and approximately $16 million in deposits.
We consider our properties and equipment to be well maintained, in good operating condition and capable of accommodating current growth forecasts.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.