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PULASKI STATE BANK TO JOIN F&M BANCORPORATION

 KAUKAUNA, Wis., Sept. 8 /PRNewswire/ -- F&M Bancorporation, Inc. (NASDAQ: FMBK), and Pulaski Bancshares, Inc., today announced execution of a letter of intent providing for the affiliation of Pulaski Bancshares and its Pulaski State Bank subsidiary with F&M Bancorporation. This agreement to unite the two corporations was announced jointly by Gail E. Janssen, chairman of the board, F&M Bancorporation, Inc., Norbert J. Peplinski, president, Pulaski Bancshares, Inc., and John Johnson, president and CEO of Pulaski State Bank.
 Ms. Janssen stated, "As we are quickly expanding into the northeastern Wisconsin market, through our pending acquisition of First National Financial Corporation and the opening of our new bank office in Green Bay, we expect this affiliation to be a great benefit to us. We are looking forward to working with the employees of Pulaski State Bank and welcoming them to our F&M team."
 This transaction will result in Pulaski Bancshares, Inc., shareholders receiving F&M Bancorporation stock, in accordance with the letter of intent. The transaction is subject to regulatory and Pulaski shareholder approval, with an estimated completion in the first quarter of 1994.
 Pulaski Bancshares, Inc.'s subsidiary, Pulaski State Bank, has two offices in Wisconsin, its main office in Pulaski, Wis., and an office in Suamico, Wis. As of June 30, 1993, its assets totaled over $80 million.
 Mr. Johnson remarked, "We are all excited about joining F&M Bancorporation. The experience which its staff members have in working with banks of our size, its operating philosophy, and the utilization of our local board of directors, will help up provide big benefits to our customers."
 F&M Bancorporation expects to complete its acquisition of Park Ridge Bancshares, in Stevens Point, Wis., later in September 1993. In addition, F&M expects to complete its merger with First National Bank of Wisconsin in the fourth quarter of this year.
 With the addition of Pulaski State Bank and other pending acquisitions, F&M Bancorporation will serve customers through 38 locations throughout Wisconsin, with combined assets of $700 million.
 -0- 9/8/93
 /CONTACT: Linda K. Seefeldt, vice president - marketing of F&M Bancorporation, Inc., 414-766-1717/
 (FMBK)


CO: F&M Bancorporation, Inc.; Pulaski Bancshares, Inc. ST: Wisconsin IN: FIN SU: TNM

TW-OS -- NY027 -- 9757 09/08/93 11:18 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
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