TowneBank and Farmers Bankshares, the parent company of Farmers Bank, expect to complete their merger in early January as originally scheduled. The parties have received all required regulatory approvals and the merger received the approval of Farmers Bankshares’ shareholders, with more than 85% of the outstanding shares voting for the merger at its special meeting of shareholders held on Dec. 14.
The closing of the merger remains subject to the terms and conditions of the definitive merger agreement that the parties signed in August, including customary closing conditions in addition to regulatory and shareholder approvals.
