KAUKAUNA, Wis. - F&M Bancorp has announced a letter of intent to acquire $65 million-asset Peoples State Bank of Bloomer, Wis.

F&M, which will have $920 million in assets after the merger, said Peoples shareholders would receive F&M stock. The company did not disclose a purchase price. The transaction, which is subject to regulatory and shareholder approvals, is expected to be completed during the fourth quarter.

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