Farmers & Merchants Bancorp (F&M), the holding company for Farmers & Merchants State Bank, completed the acquisition of Perpetual Federal Savings Bank (PFSB).
“I am excited to close our third acquisition in the last 12 months,” Lars Eller, president and CEO of Farmers & Merchants Bancorp, said. “PFSB expands our presence within compelling Ohio markets including Urbana, Dayton and Sidney, with significant potential for customer growth between Findlay and Urbana. We are excited to bring our relationship-driven banking experience and wide range of financial services to PFSB customers. On behalf of everyone at the company, we are pleased to welcome the customers and employees of PFSB to F&M.”
Farmers & Merchants Bancorp now operates 31 offices with total deposits of $2.23 billion and total loans of $1.81 billion. With the addition of PFSB, Farmers & Merchants Bancorp has total assets of approximately $2.64 billion and provides financial services through its offices within Ohio and Indiana, as well as LPOs in Ohio, Indiana and Michigan.
PFSB branch signage will transition to Farmers & Merchants State Bank signage starting today and the system conversion will occur on Oct. 18.
