The $665 million-asset Longview said in a
press release Tuesday that it will pay cash for the $66 million-asset Farmers
Bank. Longview did not disclose the price it will pay.
The deal is expected to close in the second
quarter.
Farmers Bank has one branch, $59 million of
deposits and $16 million of loans.
"Our companies share similar values and
our partnership will reinforce the foundation for an extraordinary community
bank that puts our customers, employees and communities first,” David Albin, Longview’s
president, said in the release.
“We look forward to entering an attractive new
market that is a logical extension of our existing operations," Albin added.
Olsen Palmer and Vedder Price advised Farmers
Bank. Hinshaw & Culberson advised Longview.
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