Nearly four months after the sale of Integrity First Bank was first announced, the transaction was finalized on Friday. Mountain Home Bancshares, Inc., and its subsidiary, Integrity First Bank, were acquired by Farmers and Merchants Bankshares, Inc., the holding company for Farmers and Merchants Bank, headquartered in Stuttgart.
The completion of the acquisition comes after regulatory approval and approval by the shareholders of Mountain Home Bancshares. In addition to Mountain Home, Integrity First has local branches in Gassville, Lakeview and Flippin and other locations in Jonesboro, Pocahontas, Fayetteville and Bentonville.
Most of Integrity First's branches will be renamed Farmers and Merchants Bank later this fall. The Fayetteville location will be rebranded as the Bank of Fayetteville, a division of Farmers and Merchants Bank. Farmers and Merchants Bank has branches in seven Arkansas communities and eight branches of the Bank of Fayetteville.
The acquisition brings Farmers and Merchants Bank's total assets to over $1.5 billion.
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