F&M Bancorp, Kaukauna, Wis., has agreed to buy Community Bank of Elkhorn (Wis.) in a stock swap deal that is scheduled to close early next year. Terms were not disclosed.

Community Bank, a $100 million-asset, one-branch subsidiary of CBE Inc., also in Elkhorn, would add to F&M's presence in fast-growing southeastern Wisconsin. F&M, which has $2.3 billion of assets and 84 branches in Wisconsin, Minnesota, and Iowa, already owns three banks near Elkhorn in the area between Milwaukee and the Illinois border.

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