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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 27, 1998
IBT BANCORP, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
MICHIGAN
(State or other jurisdiction of incorporation)
0-18415 38-2830092
(Commission File Number) (IRS Employer Identification No.)
200 East Broadway, Mt. Pleasant, Michigan 48858
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (517) 772-9471
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Item 5. Other Events.
Effective the close of business on March 27, 1998, ("effective date"),
IBT Bancorp's wholly owned subsidiary, Isabella Bank and Trust ("IBT"),
purchased three branches from Old Kent Bank ("OKB"). The OKB branches are
located in Mecosta County, Michigan, in the communities of Barryton, Remus and
Stanwood. At the effective time, the OKB branches had approximately $43.1
million in deposits and $233,000 in loans. The real property was purchased at
its assessed fair market value, personal property at net book value. IBT paid a
premium on the deposits assumed. The purchase of the OKB branches by IBT is not
considered an acquisition of a business.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
IBT BANCORP
Date: April 6, 1998 /s/ Dennis P. Angner
Treasurer
