ChoiceOne Financial Services Announces Merger With Fentura Financial; Transaction Is Valued At $40.18 Per Share Of Fentura Common Stock, Or ~$180.4M

Under the terms of the merger agreement, each share of Fentura common stock outstanding immediately prior to completion of the merger will be converted into the right to receive 1.35 shares of ChoiceOne common stock. The proposed transaction is valued at $40.18 per share of Fentura common stock, or approximately $180.4 million in the aggregate, based on the closing price of ChoiceOne's common stock of $29.76 on July 24, 2024. For additional information about the proposed merger, please see the Investor Presentation – Merger, filed as Exhibit 99.4 to ChoiceOne's Form 8-K filed on July 25, 2024.