Eastern Michigan Financial Corporation, headquartered in Croswell, Michigan, and Ruth Bank Corporation have entered into an agreement where Eastern Michigan Financial will buy Ruth Bank Corporation and it's wholly owned subsidiary Ruth State Bank. Both parent companies are located in the heart of Michigan's Thumb area and have long histories with the local community. Initially chartered in 1895 as the State Bank of Croswell, Eastern Michigan Bank operates nine branches in Sanilac and St. Clair County. Ruth State Bank was established in 1907 and operates from a single location in Ruth, Michigan. The transaction is anticipated to be completed sometime in 2016.
