Wilson Bank & Trust in Lebanon, Tenn., has agreed to buy a Cookeville, Tenn., branch from F&M Financial in Clarksville, Tenn.
The $5 billion-asset Wilson Bank said in a press release that it will also gain about $35 million of deposits and most of the branch’s loans from the purchase, which is expected to close in the first half of 2025. The price wasn’t disclosed.
“This transaction allows us to deepen our commitment to a dynamic, growing market,” John McDearman, Wilson Bank’s CEO, said in the release. “With this new location, we are well-positioned to meet the needs of Cookeville’s community.”
“As part of F&M Bank’s strategic plan to sharpen our focus on core markets and strengthen our position, we have made the decision to sell our Cookeville branch, C. DeWayne Olive, F&M Bank’s CEO, said in the release. “This transaction is a significant step in aligning our resources and investments where they can best support our long-term growth and serve our customers more effectively.”
Olsen Palmer and Bass, Berry & Sims advised Wilson Bank. Piper Sandler & Co. and Nelson Mullins Riley & Scarborough advised F&M Financial.