Bank of Pontiac, a community bank offering a variety of financial services, agreed to acquire Paxton, Melvin, and Piper City, Illinois branch locations of Farmers-Merchants' from Merchants Bancorp, a registered bank holding company and the parent company of Merchants Bank of Indiana and Farmers-Merchants Bank of Illinois. Financial terms were not disclosed. "We believe this transaction will be beneficial to both Farmers-Merchants and Merchants by allowing Merchants to focus on its core business of single and multi-family mortgage lending. The agreement strategically aligns Farmers-Merchants with institutions that share a similar business model and will provide Farmers-Merchants the ability to offer additional products to its customers. Both Bank of Pontiac and CBI Bank & Trust, like Farmers-Merchants, are deeply rooted in similar communities and share a strong commitment to serving their local markets. Farmers-Merchants and its employees have played a valuable role in Merchants' success and they will continue to thrive with their new partners," Michael Petrie, Merchants Bancorp Chairman.