Farmers Bank to acquire Cortland Bank

CANFIELD — The holding companies for Farmers and Cortland Banks announced today that Farmers National Bank will acquire Cortland Savings and Banking Company.

Cortland President and CEO James M. Gasior will join Farmers executive team as senior executive vice president and corporate development officer. Timothy Carney, Cortland's executive vice president and COO will join Farmers as senior executive vice president and chief banking officer.

When the transaction is complete, Farmers estimates it will have approximately $4.1 billion in assets and 48 locations in Ohio and western Pennsylvania.

"We are thrilled to announce the acquisition of Cortland and to have Jim and Tim join our executive management team," said Farmers President and CEO Kevin J. Helmick in a release. "We have known and competed with Cortland for a long time and this acquisition will further solidify our market share in Trumbull and Mahoning Counties as well as expand our presence in the greater Cleveland area furthering our strategy of building local scale throughout Northeast Ohio."

This story was originally published June 23, 2021 at 9:00 AM with the headline "Farmers Bank to acquire Cortland Bank."