Vote set for local bank merger

Local News
Money generic

VIENNA, Ohio (WKBN) – Shareholders are meeting later this month to vote on a merger between Farmers National Bank and Cortland Savings and Banking.

Once the banks merge, all Cortland Savings and Banking Company branches will become Farmers National Bank.

A shareholders vote is set for Oct. 26 at Squaw Creek Country Club in Vienna.

At the special meeting, Cortland’s common shareholders will be asked to approve the merger agreement. They will also be asked to approve compensation that may be payable to executive officers of Cortland in connection with the merger.

The Board of Directors of Cortland Bank has already unanimously approved the merger and compensation.

The full merger transaction is intended to close in the fourth quarter of 2021.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending on