M&A Deal Summary

Farmers National Bank Acquires Cortland Bank

On June 23, 2021, Farmers National Bank acquired financial services company Cortland Bank for 124M USD

Acquisition Highlights
  • This is Farmers National Bank’s 7th transaction in the Financial Services sector.
  • This is Farmers National Bank’s largest (disclosed) transaction.
  • This is Farmers National Bank’s 8th transaction in the United States.
  • This is Farmers National Bank’s 6th transaction in Ohio.

M&A Deal Summary
Date 2021-06-23
Target Cortland Bank
Sector Financial Services
Buyer(s) Farmers National Bank
Deal Type Merger
Deal Value 124M USD
Advisor(s) Piper Sandler & Co. (Financial)
Grady & Associates (Legal)

Target

Cortland Bank

Cortland, Ohio, United States
website
Cortland Bancorp is a financial holding company headquartered in Cortland, Ohio. Founded in 1892, the bank subsidiary, The Cortland Savings and Banking Company conducts business through 13 full-service community banking offices located in the counties of Trumbull, Mahoning, Portage, Summit, and Cuyahoga in Northeastern Ohio and a financial service center in Fairlawn, Ohio.

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Buyer(S) 1

Buyer

Farmers National Bank

Canfield, Ohio, United States

website

Category Company
Founded 1887
Sector Financial Services
Employees550
Revenue 168M USD (2022)
DESCRIPTION

Farmers National Bank is a diversified financial services company engaged in commercial and retail banking. Farmers National Bank was incorporated in 1887 and is headquartered in Canfield, Ohio

DEAL STATS #
Overall 9 of 10
Sector (Financial Services) 7 of 8
Type (Merger) 1 of 2
State (Ohio) 6 of 6
Country (United States) 8 of 9
Year (2021) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-30 Maple Leaf Financial

Chester, United Kingdom

Maple Leaf Financial, Inc. is the holding company for Geauga Savings Bank, headquartered in Newbury, Ohio, in affluent Geauga County. Geauga operates a second branch, in Beachwood, Ohio, in the heart of Cleveland’s east side financial district.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Emclaire

Emlenton, Pennsylvania, United States

Emclaire is a nationally chartered, FDIC-insured community commercial bank operating 19 full-service offices in Venango, Allegheny, Butler, Clarion, Clearfield, Crawford, Elk, Jefferson, and Mercer Counties, Pennsylvania. Emclaire was founded in 1900 and is based in Emlenton, Pennsylvania.

Buy $105M
Mergr

Product

Company

Legal