News, Notes and Views on Community Banking

Three banks closed across the region

      Farmers and Merchants Savings Bank of Manchester, Iowa, expanded its market territory into Minnesota by picking up the Community National Bank of Lino Lakes, Minn., which was closed Dec. 17 by the Office of the Comptroller of the Currency.

      The FDIC said F&M paid no premium for the failed bank’s $28.8 million in deposits. It also said F&M acquired all of the bank’s $31.6 million . . .

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