Profinium Financial Holdings in Fairmont, Minn., has agreed to buy F&M Community Bank in Preston, Minn.
The parent of the $533.1 million Profinium Bank did not disclose the price it will pay for the $211.1 million-asset F&M.
F&M has four branches, $184 million in deposits and $148 million in loans.
“Profinium was the best fit for our staff, customers, and the communities we serve,” Dan Christianson, F&M’s chairman and CEO, said in a statement.
Barack Ferrazzano Kirschbaum & Nagelberg advised F&M. Winthrop & Weinstine and Eide Bailly advised Profinium.