ARCHBOLD Farmers & Merchants Bancorp Inc. said yesterday it has an agreement to purchase Knisely Bank of Butler, Ind., which has $46 million in assets at three offices.
The terms were not disclosed. The deal is expected to be completed by early next year, subject to regulatory and Knisely Financial Corp. shareholder approval.
The transaction would give Farmers & Merchants over $765 million in assets, $595 million in loans, and $545 million in loans, the Archbold banking firm said.
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