Farmers & Merchants Bancorp, Inc. Announces Agreement to Acquire Peoples-Sidney Financial Corporation, Sidney, Ohio

ARCHBOLD, Ohio, June 14, 2022 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. (“F&M”, “FMAO”, or the “Company”) (Nasdaq:FMAO), the holding company for Farmers & Merchants State Bank, announced today that it has signed an agreement and plan of merger (the “Agreement”) whereby F&M will acquire Peoples-Sidney Financial Corporation (“Peoples” or “PPSF”) (OTCPink:PPSF) and its wholly owned subsidiary Peoples Federal Savings and Loan Association, in a stock and cash transaction. Peoples operates from its main office in Sidney, Ohio, two full-service branch offices located in Anna, Ohio and Jackson Center, Ohio, and a drive-through facility in Sidney. At March 31, 2022, PPSF reported $132.7 million in total assets, $99.9 million in loans, $114.8 million in deposits and $15.4 million in tangible common equity.