On June 13, 2017, Wolverine Bancorp, Inc. (“Wolverine”), Midland, Michigan, and Horizon Bancorp (“Horizon”), Michigan City, Indiana, entered into an agreement pursuant to which Wolverine will merge with and into Horizon, with Horizon as the resulting entity. The combined organization will have total assets of approximately $3.6 billion. Upon completion of the merger, Wolverine Bank, the subsidiary of Wolverine, will merge with and into Horizon Bank, the subsidiary of Horizon.  Under the terms of the merger agreement, Wolverine shareholders will receive 1.0152 shares of Horizon common stock and $14.00 cash for each share of Wolverine stock. The aggregate deal value as of June 13 was $91.8 million.

Luse Gorman served as legal counsel to Wolverine in the transaction.  The Luse Gorman team was led by Eric Luse, Ned Quint and Scott Brown (Corporate/M&A) and Jeff Cardone and Brendan Saxon (Executive Compensation).

Wolverine has approximately $379.3 million in total assets and services the Great Lakes Bay Region of Michigan with three full-service banking offices, and also serves the Metro Detroit, Greater Lansing, and Grand Rapids regions.

Horizon has approximately $3.2 billion in assets and operates 59 offices extending throughout northern and central Indiana, southwestern and central Michigan and central Ohio.