F&M Bancorp of Frederick, Md., is buying a rural Pennsylvania branch from the U.S. subsidiary of Allied Irish Banks.

Farmers Bank, a unit of First Maryland Bancorp, runs the Fairfield, Pa., branch. F&M would get the building and $13.5 million of deposits.

The price was not disclosed. F&M owns two institutions, with $1.5 billion of assets and 44 branches in Maryland and Pennsylvania.

The Fairfield branch would become part of its Frederick-based Farmers and Mechanics National Bank, which has three branches nearby.

Faye E. Cannon, president and chief executive officer of Farmers and Mechanics, said the deal is an "opportunity to further strengthen our presence in the southern Pennsylvania market."

The purchase is expected to close this quarter.

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