HANCOCK AND MARQUETTE, MI— Superior National Bank and Range Bank are merging.
Keweenaw Financial Corporation and Range Financial Corporation on Wednesday announced they have entered into a definitive merger agreement.
Based in Hancock, Keweenaw Financial is the holding company of Superior National Bank, which has approximately $1.05 billion in assets. Based in Marquette, Range Financial is the holding company of Range Bank, which has approximately $635 million in assets.
The parties intend to operate the combined bank under the name Superior Range Bank, N.A. It will be headquartered in Hancock and maintain executive offices in Marquette. The boards of directors of the combined organization will each have seven directors from Superior National Bank and five from Range Bank.
The merger is expected to close in the fourth quarter of this year. The merger of the banks and the core systems conversion are expected to occur in spring 2027.
