 Level One Bancorp, Inc. LEVLLevel One and Ann Arbor Bancorp, Inc., the privately-owned parent company of Ann Arbor State Bank together, AAB, jointly announced today the signing of a definitive merger agreement. Under the terms of the agreement, AAB shareholders will receive 38.50 per share in an all-cash transaction. Established in January 2009, AAB operates three banking locations in Michigan serving Washtenaw County with two offices and Jackson County with one office. 