F&M Bancorp to acquire Peoples-Sidney Financial for ~$27M in stock/cash

FARMERS & MERCHANTS BANCORP INC

Transaction valued at ~$27M based on FMAO closing price of $34.28 on June 14, 2022.
PPSF shareholders elect 0.6597 FMAO shares or $24 cash per share; minimum 65% stock consideration.
Deal expected to be 2.5% accretive to 2023 EPS and 3.9% accretive to 2024 EPS; TBV dilution ~2.1% with 3.25-year earnback.
PPSF had $132.7M assets, $99.9M loans, $114.8M deposits at March 31, 2022.
Transaction expected to close Q3/Q4 2022, subject to regulatory and PPSF shareholder approvals.

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