Peoples Savings Bank of Rhineland, a leading provider of community-focused financial services, recently announced a definitive agreement to acquire farmbank, headquartered in Green City, Missouri, …
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Peoples Savings Bank of Rhineland, a leading provider of community-focused financial services, recently announced a definitive agreement to acquire farmbank, headquartered in Green City, Missouri, solidifying its position as a strong community bank in Missouri, according to a news release.
The transaction, expected to close in December 2025 pending regulatory approval, will bring Peoples Savings Bank’s number of branches to 15 with over $750 million in assets under the Peoples Savings Bank brand. These two institutions share values, local focus, strong customer relationships, and a dedication to supporting small businesses and families the release stated.
“farmbank has a strong reputation and loyal customer base,” said Mark Laune, CEO of Peoples Savings Bank. “This acquisition is about Main Street and aligns with our strategic vision and strengthens our ability to serve communities across Missouri.”
Customers of both banks will benefit from a broader range of products, expanded digital capabilities, continued personalized service and expanded lending capacity. Peoples Savings Bank said it plans a smooth integration, with no immediate changes to customer accounts or branch access.
“Joining Peoples Savings Bank allows us to offer our customers more while maintaining the local relationships that matter the most, this is a win for our customers, employees and the communities we serve,” said Brad Doran, CEO of farmbank.
The combined institution will cover east central and northern Missouri with the combined 15 locations.
Peoples Savings Bank is celebrating 90 years of continued banking services that started in Rhineland in 1935. Peoples Savings Bank currently has branches in Montgomery, Gasconade, Franklin, Pike, Lincoln and St. Charles counties.
farmbank is headquartered in Green City with branches in Milan and Kirksville and serving Adair and Sullivan counties. farmbank was founded in 1943 originally as Farmers Bank of Green City.
Stinson LLP is the legal adviser to farmbank and Sandberg Phoenix is the legal adviser to Peoples Savings Bank in this transaction.
