Lodi’s F&M Bancorp has deal to acquire Central Valley banking firm

Lodi-based Farmers & Merchants Bancorp said it has a definitive agreement to acquire Delta National Bancorp and its four Central Valley branches.

Founded in 1916, F&M has 24 offices statewide, including two in Sacramento, one in Elk Grove and two in Galt.

Delta, headquartered in Manteca, has an office there and three more in Stanislaus County.

Financial terms of the agreement, which is subject to shareholder and regulatory approvals, call for Delta’s common shareholders to receive more than 12,000 shares of F&M common stock.

Officials said they expect the acquisition to be finalized early in this year’s fourth quarter.

This story was originally published June 9, 2016 at 9:57 AM with the headline "Lodi’s F&M Bancorp has deal to acquire Central Valley banking firm."