Farmers National Banc Corp. has announced that they have an agreement to acquire Maple Leaf Financial, Inc.

Farmers, which is headquartered in Canfield, will also acquire Maple Leaf's Geauga Savings Bank in the merger.

A release from Farmers says the transaction increases their market share in Cuyahoga and Geauga counties.

The transaction is valued at nearly $40 million.

The transaction is expected to close during the fourth quarter of 2019 or the first quarter of 2020.

Once the transaction is complete, Farmers estimates that it will have approximately $2.7 billion in assets and 42 locations between Ohio and Pennsylvania.