First State in Nebraska to buy Farmers and Merchants

First State Bank in Loomis, Neb, has agreed to buy Farmers and Merchants Bank in Axtel, Neb. 

The $191 million-asset First State expects to complete its purchase of the $11.5 million-asset Farmers and Merchants by the end of this year.

“We have always had a good working relationship with Farmers and Merchants and believe that the relationships we have developed over the years will pave the way for an excellent partnership that will benefit both communities,” Dave Dannehl, First State’s president, said in a press release. 

First State is part of the larger Lauritzen group of banks and affiliates.