Jewel Box Financial Services, Inc. (“Jewel Box”), the holding company of Farmers & Merchants Union Bank (“FMUB”), and Ambanc Financial Services, Inc. (“Ambanc”), the holding company of American Bank of Beaver Dam (“American Bank”), have jointly announced today that they have entered into an agreement and plan of merger whereby Jewel Box will acquire Ambanc subject to customary shareholder and regulatory approval. Jewel Box will then merge American Bank into FMUB and the surviving bank will operate under the Farmers & Merchants Union Bank name.
Olsen Palmer LLC served as financial advisor to Jewel Box Financial Services, Inc.
The transaction has been approved by the board of directors of each company and is expected to close in the first quarter of 2026.
Nationwide, Olsen Palmer is one of the top 3 overall bank M&A advisors based on the number of transactions advised upon since 2020, according to S&P Global.