FS Bancshares, Inc. is acquiring the fellow central Wisconsin-based Farmers and Merchants Bank of Kendall.
The $145 million FS Bancshares is the holding company for Ergo Bank of Markesan, Wis. As of June 30, the bank had two branches, $120 million in deposits, $109 million in net loans and leases and $19 million in securities.
The $80 million Farmers and Merchants Bank of Kendall has three branches, in Kendall, Norwalk and Wilton. As of June 30, the bank had $65.5 million in deposits and $58 million in net loans and leases.
Oak Ridge Financial, Minneapolis, acted as exclusive financial adviser to Farmers and Merchants Bank of Kendall.
