Farmers & Merchants Bancorp, a local independent community bank, agreed to acquire Perpetual Federal Savings Bank, a financial products and services provider, for $104m. “The combination of PFSB and F&M creates immediate value for our shareholders, customers, and communities and I am excited to expand F&M’s community-oriented banking services to the Urbana, Columbus, Dayton, Springfield, Piqua, Tipp City, Troy and Sidney markets. This transaction is an excellent opportunity for PFSB to become part of a larger community banking organization that offers customers a wider range of financial services,” Lars Eller, F&M President and CEO.