TowneBank and Farmers Bank Expect to Close Merger in January

TowneBank and Farmers Bankshares, the parent company of Farmers Bank, expect to complete their merger in early January as originally scheduled. The parties have received all required regulatory approvals and the merger received the approval of Farmers Bankshares’ shareholders, with more than 85% of the outstanding shares voting for the merger at its special meeting of shareholders held on Dec. 14.

The closing of the merger remains subject to the terms and conditions of the definitive merger agreement that the parties signed in August, including customary closing conditions in addition to regulatory and shareholder approvals.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.