Lake Michigan Credit Union (LMCU), headquartered in Grand Rapids, Mich. has signed a definitive agreement to acquire Encore Bank, headquartered in Naples, Fla. The combined entity will have approximately $5.6 billion in assets, over $9 billion in serviced mortgages, with ten branches in Florida and over 40 in Michigan. “We are delighted that Encore Bank.
Encore Bank is pleased to announce that CEO Tom Ray has been appointed to the board of directors for the Florida Bankers Association (FBA), and will serve a two-year term starting this month. Bankers are nominated by their peers to serve on the board and are selected based upon their service to the FBA, community.
Tom Ray, CEO of Encore Bank, is pleased to announce that Ovation Holdings, through its wholly owned subsidiary, Encore Bank, reported net income of $184,000 for the second quarter. Through the first six months of 2014, earnings improved to $493,000, up from $359,000 during the same period last year. As was the case for the.