Transaction Announcement: Mayville Financial Corporation completes merger with Tri-County Bancorp, Inc.

The Transaction

On August 31, 2026, Tri-County Bancorp, Inc. ("Tri-County"), the holding company for Tri-County Bank, announced the completion of its merger with Mayville Financial Corporation ("Mayville"), the holding company for Mayville State Bank.

The transaction brings together two of Michigan's longest-serving community banks — Tri-County Bank, which opened in Brown City in 1889, and Mayville State Bank, founded in 1885. On a combined basis, the company has approximately $734 million in total assets, $559 million in loans and $631 million in deposits, based on financial information as of June 30, 2026, and operates 14 full-service offices across eastern Michigan and the Thumb region.

FHN Financial Securities Corp. served as financial advisor to Mayville Financial Corporation.

Please contact Andrew Christians, CFA at (313) 701-1463 or Greg Cunningham at (313) 701-6075 for further information.

Mayville Financial Corporation

Mayville Financial Corporation is a Michigan corporation and the bank holding company for Mayville State Bank, a Michigan-chartered commercial bank based in Mayville, Michigan. Mayville State Bank was founded in 1885 and operates 2 full-service branch offices in central Michigan. As of June 30, 2026, Mayville State Bank had total assets of approximately $95 million.

Tri-County Bancorp, Inc.

Tri-County Bancorp, Inc. opened its doors for business in 1889 in Brown City, Michigan. With its corporate headquarters located today in Brown City, Michigan, Tri-County Bancorp, Inc. had approximately $639 million in total assets as of June 30, 2026, and operates 12 full-service locations stretching across eastern Michigan. The bank’s mission is to provide quality customer satisfaction, foster employee camaraderie, and to support the communities we serve with our active involvement and economic support.

For more information on this transaction, please click here.

FHN Financial

FHN Financial is a leading capital markets firm serving a range of institutional, municipal, and corporate customers across the globe. As a division of First Horizon Bank, FHN Financial combines enterprise-scale resources with specialized expertise. FHN Financial's various business lines deliver a full suite of

fixed income products, strategies, services, and balance sheet management solutions.

Financial Institutions Group

Andrew Christians, CFA | Managing Director | andrew.christians@fhnfinancial.com

Greg Cunningham | Managing Director | greg.cunningham@fhnfinancial.com

Chandler Lail, CPA | Associate | chandler.lail@fhnfinancial.com

Tim Xia, CFA | Associate | tim.xia@fhnfinancial.com