Farmers & Merchants Continues Indiana Growth

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Ohio-based Farmers & Merchants Bancorp Inc. (Nasdaq: FMAO) continues its expansion in the Hoosier state with the acquisition of Ossian Financial Services Inc. in Wells County.

The deal is valued at $20 million and has been approved by the boards of directors of each company.

OFSI operates two full-service offices in northeast Indiana, including Ossian State Bank. It also operates a branch in Bluffton.

Earliest this year, F & M acquired the assets of Adams County Financial Resources. Last year, it acquired the Bank of Geneva.

After the transaction, F&M will operate 11 offices in Indiana with total deposits of $462 million and total loans of $445 million.