F&M Bank, one of the largest family-owned community banks in central Oklahoma, and Community National Bank of Okarche (CNBO) jointly announced Thursday that they have entered into a defi nitive merger agreement.

“We are elated to partner with Community National Bank of Okarche,” said John Tom Anderson, CEO of F&M.

“We have immense respect for the relationship banking approach Community National Bank of Okarche represents in the markets they operate in. Their well-earned reputation for being stewards of their clients and communities aligns perfectly with ours,” added Barry Anderson, president of F&M.

“This acquisition allows us to enter Fairview and Okarche, a natural extension of our current branch footprint.”

“Joining forces with F&M Bank is a win-win for all of our constituents, including customers, communities, employees and shareholders” said Chris Walta, president and CEO of CNBO.

“Cultural similarities between our two organizations are striking and, combined, we’ll have a greater ability to reinvest back into technology, products, people and Oklahoma.”

Walta, David Craig, Doug Wittrock, Glenda Hill and the entire leadership team of CNBO are expected to remain with the pro forma company. Terms of the acquisition were not disclosed.

Subject to receipt of customary regulatory approvals and satisfaction of closing conditions, the transaction is expected to close in the late fourth quarter of 2025.

With roots dating back to 1902, F&M has a main office in Edmond and branches in Crescent, Guthrie, Kingfisher, Piedmont and Yukon and a loan production office in Oklahoma City.

As of June 30, F&M had approximately $758 million in assets.

Established in 1984, CNBO has its main office in Okarche with a branch in Fairview.

As of June 30, CNBO had approximately $128 million in assets.

F&M was advised by D.A. Davidson & Co. Paul Foster Law Offices, P.C. served as legal counsel to F&M.

CNBO was advised by Performance Trust Capital Partners, LLC. McAfee & Taft, P.C. served as legal counsel to CNBO.