Stuttgart-based Farmers and Merchants Bankshares, Inc., the holding company for Farmers and Merchants Bank completed its previously announced acquisition of Mountain Home Bancshares, Inc. and its subsidiary, Integrity First Bank, N.A.
The completion of the acquisition follows receipt of all regulatory approval and approval by the shareholders of Mountain Home Bancshares. Terms of the deal were not disclosed.
“We are excited to make Integrity First Bank locations part of the Farmers and Merchants Bank family,” said Gary Hudson, President and CEO of Farmers and Merchants Bank. “Our board and officers feel strongly this acquisition provides a combined strength and larger footprint that improves our ability to make a greater impact on all the communities we serve.”
Integrity First Bank locations in Mountain Home, Pocahontas, Jonesboro, Gassville, Flippin, Bentonville and Lakeview will be rebranded as Farmers and Merchants Bank in the fall of 2019. The Integrity First Bank branch in Fayetteville will do business as The Bank of Fayetteville, already a division of Farmers and Merchants Bank.
Farmers and Merchants Bank currently has branches in seven Arkansas communities in addition to eight branches doing business as The Bank of Fayetteville. The acquisition brings Farmers and Merchants Bank’s total assets to more than $1.5 billion.