Peoples Savings Bank of Rhineland, Mo., is acquiring Green City, Mo.-based farmbank..The transaction is expected to close in December, and will increase the number of Peoples Savings Bank branches to 15 in east central and northern Missouri. The combined bank will have more than $750 million in assets. “farmbank has a strong reputation and loyal customer base”, said Peoples Savings Bank CEO Mark Laune. “This acquisition is about Main Street and aligns with our strategic vision and strengthens our ability to serve communities across Missouri.”farmbank customers will have a wider range of products, more digital options and expanded lending capacity, according to a press release. “Joining Peoples Savings Bank allows us to offer our customers more while maintaining the local relationships that matter the most,” said farmbank CEO Brad Doran. “This is a win for our customers, employees and the communities we serve.”Kansas City, Mo.-based Stinson LLP is legal advisor to farmbank, and St. Louis-based Sandberg Phoenix is legal advisor to Peoples Savings Bank.
