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Peoples Savings Bank of Rhineland Announces Acquisition of Farmbank
June 23, 2025
Hermann, Missouri – Peoples Savings Bank of Rhineland, a leading provider of community-focused financial services, today announced a definitive agreement to acquire farmbank headquartered in Green City, MO, solidifying its position as a strong community bank in Missouri.
The transaction, expected to close in December 2025 pending regulatory approval, will bring Peoples Savings Bank’s number of branches to 15 with over $750 million in assets under the Peoples Savings Bank brand. These two institutions share values, local focus, strong customer relationships, and a dedication to supporting small businesses and families.
“farmbank has a strong reputation and loyal customer base”, said Mark Laune CEO of Peoples Savings Bank. “This acquisition is about Main Street and aligns with our strategic vision and strengthens our ability to serve communities across Missouri.”
Customers of both banks will benefit from a broader range of products, expanded digital capabilities, continued personalized service and expanded lending capacity. Peoples Savings Bank plans a smooth integration, with no immediate changes to customer accounts or branch access.
“Joining Peoples Savings Bank allows us to offer our customers more while maintaining the local relationships that matter the most, this is a win for our customers, employees and the communities we serve.” said Brad Doran, CEO of farmbank.
The combined institution will cover east central and northern Missouri with the combined 15 locations.
Peoples Savings Bank is celebrating 90 years of continued banking services which started in Rhineland, Missouri in 1935. Peoples Savings Bank currently has branches in Montgomery, Gasconade, Franklin, Pike, Lincoln, and St. Charles counties.
farmbank is headquartered in Green City with branches in Milan and Kirksville, MO. Serving Adair and Sullivan Counties. Farmbank was founded in 1943 originally as Farmers Bank of Green City.
Stinson LLP is the legal advisor to farmbank and Sandberg Phoenix is the legal advisor to Peoples Savings Bank in this transaction.