Farmers & Merchants Bancorp (FMAO), the holding company for Farmers & Merchants State Bank, completed the acquisition of Peoples-Sidney Financial (PPSF).
“We are thrilled to complete the Peoples acquisition, which is the fifth acquisition we have closed since 2019. Peoples expands our presence in Sidney and greater Shelby County, and we are excited to bring our community-oriented banking and financial services to customers across these markets,” Lars Eller, president and CEO of F&M, said. “Our successful acquisition strategy combined with strong organic growth has helped increase our bank assets to over $2.8 billion. On behalf of everyone at F&M, we are pleased to welcome the employees and customers of Peoples to F&M.”
F&M now operates 33 full-service branches with total deposits of $2.3 billion and total loans of $2.1 billion at June 30, 2022 with the addition of PPSF. F&M provides financial services through its offices within Ohio and Indiana, as well as loan production offices in Ohio, Indiana and Michigan.
PPSF branch signage transitioned to Farmers & Merchants State Bank on Oct. 1, 2022 with the system conversion will occur on Dec. 5, 2022.
