WALDRON, Mich. The Waldron branch of Bank of Lenawee will close in March as part of its parent company s planned merger with First Defiance Financial Corp.
The branch, with two employees and $5.5 million in deposits, lacks sufficient business to justify keeping it open, the two firms said yesterday. Customers will be served by other branches that are 10 miles away.
Seven remaining branches of Bank of Lenawee, owned by Pavilion Bancorp Inc., Adrian, will take the name of First Defiance s First Federal Bank of the Midwest. Officials expect the merger to be completed in mid-March.