F&M Bank in Edmond, Okla., has agreed to buy Community National Bank of Okarche in Oklahoma.
The $758 million-asset F&M Bank did not disclose how much it will pay for the $128 million-asset Community National. The deal is expected to close in the fourth quarter.
“We have immense respect for the relationship banking approach Community National … represents in the markets they operate in,” John Tom Anderson, F&M’s CEO, said in a press release. “Their well-earned reputation for being stewards of their clients and communities aligns perfectly with ours.”
Chris Walta, Community National’s president and CEO, and the rest of the bank’s leadership team are expected to join F&M.
F&M was advised by D.A. Davidson and Paul Foster Law Offices. Community National was advised by Performance Trust Capital Partners and McAfee & Taft.