Knisely Bank had been a subsidiary of Knisely Financial, a privately held bank holding company based in Butler, Indiana. Knisely Bank’s locations in Butler and Auburn will operate as offices of The Farmers & Merchants State Bank and a new ATM facility has been installed at Knisely Bank’s former St Joe, Indiana branch site.
In addition to giving the F&M two new full service branch locations, the Knisely Bank acquisition should facilitate operating efficiencies, generate economies of scale, and create higher loan limits and new loan products that could lead to increased lending opportunities.
Paul Siebenmorgen, president and CEO of Farmers & Merchants Bancorp and The Farmers & Merchants State Bank, said: The expanded number of F&M locations will allow us to efficiently serve our new customers in Northeastern Indiana. They complement and enhance F&M Ohio-based locations.
