Citizens Community Bancorp, the parent company of Citizens Community Federal, announced an agreement Tuesday to purchase F&M Bank of Tomah. Citizens Community Bancorp is headquartered in Eau Claire and operates nine branches in Wisconsin, nine in Minnesota, and one in Michigan. F&M Bank CEO Pete Reichardt will continue his role leading CCF Bank's business activities in the Tomah market. The transaction, subject to approval from F&M shareholders and bank regulators, is valued at $21.6 million. Stephen Bianchi, president and CEO of Citizens, expects the purchase to close by the end of June. It's the second acquisition by Citizens in less than a year. Citizens purchased Osseo-based United Bank last June.

Read more at the Tomah Journal.