F&M Bancorp said Friday it would buy Monocacy Bancshares, Taneytown, Md., for $82 million in stock.

The deal for the $294 million-asset parent of Taneytown Bank and Trust Co. is expected to close by early next year.

The deal would give $1 billion-asset F&M Bancorp entree into southern Pennsylvania and strengthen its presence in the Baltimore suburbs.

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