Wisconsin's F&M Bancorp. has struck another deal to further establish itself in neighboring Minnesota.
Kaukauna-based F&M an-nounced this week that it will buy Financial Management Services of Jefferson (Minn.) Inc., parent of $100 million-asset Farmers and Merchants Bank of Jefferson, for stock. The price was not disclosed. The deal is scheduled to close in the second quarter.
F&M, which has $1.6 billion of assets, is also buying Cannon Valley Bank in Dundas, Minn. That deal, announced in June, is expected to close by yearend.In Wisconsin, F&M has a deal to buy Bank of South Wayne. The acquisition is scheduled to close in January.
"It is part of our strategic plan to continue to expand in Minnesota and Wisconsin, and into Iowa and Michigan as well," said Janet M. Lakso, vice president of administration at F&M.