Farmers National Banc Corp. and Cortland Bancorp Announce Farmers to Acquire Cortland Bancorp
CANFIELD, Ohio and CORTLAND, Ohio, June 23, 2021 (GLOBE NEWSWIRE) -- Farmers National Banc Corp. ("Farmers") (NASDAQ:FMNB), the holding company for The Farmers National Bank of Canfield ("Farmers National Bank"), and Cortland Bancorp Inc. ("Cortland") (NASDAQ:CLDB), the holding company for The Cortland Savings and Banking Company, jointly announced today they have entered into an agreement and plan of merger (the "Agreement"). Pursuant to the Agreement, each shareholder of Cortland may elect to receive either $28.00 per share in cash or 1.75 shares of Farmers' common stock, subject to an overall limitation of 75% of the shares being exchanged for Farmers shares and 25% for cash. Based on
