ARCHBOLD, Ohio, March 25 /PRNewswire-FirstCall/ -- Paul Siebenmorgen, President and CEO of Farmers & Merchants State Bank (the "Bank"), today announced that the Bank has entered into an agreement with First Place Bank to acquire the assets and assume the liabilities of the Hicksville, Ohio branch office of First Place Bank. The branch has approximately $28 Million in deposits.
The transaction is subject to regulatory approval and other customary closing conditions. It is expected that the transaction will be consummated during the third quarter of 2010. The financial terms of the transaction were not disclosed.
Commenting on the transaction, Mr. Siebenmorgen stated: "We are very pleased to continue our expansion with this transaction. The Hicksville office will complement our existing branch network, including expanding our presence in Defiance County, and allow us to provide the high level of service for which our community bank is known. We look forward to continuing to serve the Hicksville community."
About Farmers & Merchants State Bank
Farmers & Merchants State Bank, headquartered in Archbold, Ohio, currently operates 18 offices within Defiance, Fulton, Henry, Williams and Wood Counties, Ohio and DeKalb and Steuben Counties, Indiana. It is a wholly-owned subsidiary of Farmers & Merchants Bancorp, Inc., a bank holding company also based in Archbold, Ohio. Farmers & Merchants Bancorp, Inc. (OTC Bulletin Board: FMAO) had total assets of approximately $850 million as of year-end 2009.
Farmers & Merchants State Bank
CONTACT: Marty Filogamo, Farmers & Merchants State Bank,
+1-419-446-2501; Debra Bish, First Place Bank, +1-330-373-1221 x-2128
Web Site: http://www.fm-bank.com/
