Farmers & Merchants Bancorp (NASDAQ:FMAO) signs an agreement and plan of reorganization and merger whereby F&M will acquire Ossian Financial Services the holding company for Ossian State Bank, in a cash transaction.
OFSI operates two full-service offices in northeast Indiana and has approximately $122M in assets, $58M in loans, $108M in deposits and $11.9Mn in consolidated equity as of September 30, 2020.
“I am pleased to combine our two strong institutions as OFSI immediately enhances and complements our growing franchise in Northeast Indiana. This is an excellent opportunity for OFSI to become part of a larger community banking organization that will allow us to offer their customers a wider range of financial services. We believe, as OFSI does, that our partnership will still preserve the convenience of local decision makers throughout our office network. On behalf of everyone at F&M, I would like to welcome OFSI’s customers and employees to the F&M family.” Lars Eller, President and CEO of F&M.
