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Cawker City, Kan.-based F & M State Bancshares Inc. is seeking to buy all of the voting shares of F M Co., and thereby indirectly acquire Milligan, Neb.-based Farmers and Merchants Bank ($64.5 million), according to the Federal Reserve's website.
The proposal for the acquisition is simultaneous with FM Group Inc.'s proposed merger with F & M State Bancshares, according to a regulatory filing recently obtained by S&P Global Market Intelligence.
F & M State Bancshares is the owner of all capital stock of Farmers & Merchants State Bank of Cawker City ($17.3 million). Currently, F & M State Bancshares is owned by Paul Chandler Jr. and Melvin Taylor, who are also officers and directors of Farmers & Merchants State Bank of Cawker City.
F M Co. owns all of the capital stock of Farmers and Merchants Bank. Paul Chandler Jr. and his wife Karen Chandler currently own all of the stock of F M Co. Chandler is an employee and...