Farmers and Merchants Bancorp of Archbold, Ohio, has a deal to buy Knisely Financial Corp.'s $46 million-asset Knisely Bank, in Butler, Ind.
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Knisely Bank would be merged into F&M's $720 million-asset Farmers and Merchants State Bank.
The deal, announced Monday, is expected to close late next quarter or early next year. The price was not disclosed.
"While change at times can be difficult, we all feel that Farmers and Merchants will continue to provide the touch that only a community bank can give to our customers and the community banks that we serve," Sondra Phillips, a longtime Knisely Bank board member, whose family helped found what was then Knisely National Bank of Butler in the 1930s, said in a press release.
