Farm­ers & Mer­chants State Bank, head­quar­tered in Arch­bold and Croghan Colo­nial Bank, head­quar­tered in Fre­mont jointly announced on Wednes­day that F&M has entered into an agree­ment with Croghan to acquire the Cus­tar, Ohio branch of Croghan as well as the loans and deposit lia­bil­i­ties of the branch. The branch has approx­i­mately $29.5 mil­lion in deposits as of June 2013.

The trans­ac­tion is sub­ject to reg­u­la­tory approval and other clos­ing con­di­tions, and is expected to be final­ized dur­ing the fourth quar­ter of this year. The finan­cial terms of the trans­ac­tion were not disclosed.

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