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THE CITIZENS LOAN & BUILDING COMPANY AND THE FARMERS BANKING COMPANY TO COMBINE INTO NATIONAL BANK

 THE CITIZENS LOAN & BUILDING COMPANY AND THE FARMERS BANKING COMPANY
 TO COMBINE INTO NATIONAL BANK
 BOWLING GREEN, Ohio, March 3 /PRNewswire/ -- The boards of directors of The Citizens Loan & Building Company, Lima, Ohio, and The Farmers Banking Company, N.A., Bellefontaine, Ohio, have jointly announced their decision to combine the two institutions into a national bank. The combined institution would have assets of approximately $216 million. Both institutions are subsidiaries of Mid Am, Inc. a financial services holding company located in Bowling Green.
 "We're excited about the prospects of uniting these two organizations into one bank serving the Allen and Logan County markets," commented Charles W., Daley, chairman of the board at Citizens. Daley will continue to serve as chairman of the combined board.
 "Citizens has served the Allen County area for 110 years, and Farmers has served the Logan County area for nearly 90 years," added Gene Coffman, president and chief executive officer of The Farmers Banking Company. "Just as our affiliation with Mid Am, Inc. has allowed us to maintain a local presence while gaining the strength of a larger corporation, the merging of Farmers and Citizens will allow us to combine forces while maintaining our local decision-making and community involvement."
 "The combination provides greater opportunities for our employees. There will be no positions eliminated as a result of this merger," stated Edward L. Baumgardner, president of Citizens. "Lima has been our home for over a century, and we will continue to do business here, with local management involved in day-to-day decisions."
 It is planned that the two companies will unite under a new name which is yet to be determined. The home office will be headquartered in Lima. Coffman will serve as chief executive officer and Baumgardner will serve as president.
 "We are excited about the prospects for future growth," added Coffman. "Not only will this combination be beneficial for customers and employees, it will be good for the communities we serve. The prospects of a stronger financial institution with higher lending limits and a wider variety of products and services, with an interest in expanding our branch network to serve additional communities within our market, will provide a more diversified financial resource to our area."
 The parallels in each institution's operating philosophy will be complemented by the expertise each has developed as a lender. As Farmers Banking Company is primarily a consumer and business lender while Citizens Loan and Building concentrates in mortgage lending, the combined portfolio of the new institution will provide significant risk diversification.
 The new banking organization, with its headquarters located at 300 West Market St., Lima, will continue to operate banking centers in Bellefontaine, Hunstsville, Lakeview, Russell's Point, and Lima, Ohio.
 Mid Am, Inc. with total assets of $1.2 billion, currently has three other affiliates: Mid American National Bank and Trust Company, Bowling Green; First National Bank Northwest Ohio, Bryan; and Mid Am Information Services, Inc., Bowling Green, the company's data processing affiliate.
 The combination of Farmers and Citizens is subject to the approval of various regulatory agencies, with the transaction expected to be complete by late summer.
 -0- 3/3/92
 /CONTACT: Gene Coffman, Jr., president & CEO of The Farmers Banking Company, N.A., 513-843-5233, or Edward L. Baumgardner, president of Citizens Loan & Building Company, 419-228-2734/ CO: Citizens Loan & Building Company; The Farmers Banking Company ST: Ohio IN: FIN SU: TNM


KK -- CL007 -- 4332 03/03/92 09:00 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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