Premier Bancshares in Omaha, Neb., has agreed to buy Farmers Bank and Trust in Nebraska City.

The $146 million-asset Premier plans to complete the acquisition by March 31, Chris Maher, the company's president and chief executive, told the Omaha World Herald. Financial terms were not disclosed.

Farmers Bank has one branch and $51 million in assets.

Mark Marcotte, a Farmers Bank vice president, told the Omaha publication that his father, the bank's owner, Arvon Marcotte, is ready to retire. The family agreed to sell the bank rather than transition the leadership to a new generation.

Premier was created in 2011 when Purdum State Bank bought the failed Mid City Bank.

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