F&M completes acquisition of People-Sidney Financial Corp, assets reach $2.8B

FARMERS & MERCHANTS BANCORP INC

Completed acquisition of People-Sidney Financial (PPSF) and its subsidiary Peoples Federal as of Oct 1, 2022.
Peoples Federal had $132.5M in assets; combined company assets now approximately $2.8 billion.
Post-acquisition: 33 branches, $2.3B deposits, $2.1B loans as of June 30, 2022.
System conversion scheduled for Dec 5, 2022; branch signage transitioned on Oct 1.
Marks fifth acquisition since 2019; expands presence in Sidney and Shelby County, Ohio.

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