FIG Has Now Completed 118 M&A Transactions Totaling More Than
$8 Billion In Transaction Volume
ATLANTA, January 22, 2019 — Citizens Community Bancorp, Inc. (NASDAQ: CZWI) and F. & M. Bancorp of Tomah, Inc., have announced a merger agreement that will bring together their holding companies and subsidiaries in a cash and stock transaction valued at approximately $21.6 million.
Located in Tomah, Wisconsin, F&M Bank is a full-service community bank with two branches in Tomah, total assets of $194.6 million and total equity of $22.6 as of September 30, 2018. The combined franchise is expected to strengthen the presence and capacity of Citizens in the adjacent Chippewa Valley region.
“We are excited about this opportunity to grow our community banking franchise in central western Wisconsin,” said Stephen Bianchi, President and CEO of Citizens. “Adding the Tomah market will allow us to leverage our personnel, resources and knowledge and will allow us to make “More Possible” through enhanced capabilities, operational efficiencies, and community outreach. Our deeper product offerings and increased lending capacity will allow us to better serve our new clients in and around the city of Tomah. We believe this acquisition will enhance shareholder value, as pro forma assets will exceed $1.4 billion.”
The merger is expected to close in the second quarter of 2019, subject to the required regulatory approvals.
More information is available here.
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